If you're watching this video, you're going to learn three big things.
Number one, why saving in a bank can still make you poorer.
Number two, why Bitcoin isn't just an investment.
Number three, what you can actually do with Bitcoin today.
Today's guest is Tom Tom.
He's a brand new Bitcoiner with some brand new Bitcoiner questions.
So if you're brand new to Bitcoin,
Come on inside the world's biggest Bitcoin welcome center for today's show.
Welcome to Sat Chats, the Bitcoin podcast where we chat about sats.
Sats are the smallest part of the Bitcoin the same way pennies are the smallest part of a dollar.
With Sat Chats, we are building the world's biggest Bitcoin welcome center to serve as your gateway to generational wealth.
So, if you are brand new to Bitcoin, we want to chat about Sats with you.
Head to satchats.com to grab your slot in the studio today.
I'm your host, Stuart.
And I'm your co-host, Anna Bevan.
And with us today in the studio is 165 TomTom.
Hello.
Okay.
So, TomTom, high school friend.
High school friend.
And now again, which is a lot of fun,
tell us exactly what is holding you back from stacking your first sats.
I would say what's holding me back is the lack of knowledge.
I need to learn more about it.
Is there no fear there?
There's no fear.
There's just like, hey, I just don't even know what it is.
Correct.
I think what comes to mind is that meme of a guy at a bar telling a girl he is a billionaire,
and she asks him for a drink, and he says,
Oh, it's Bitcoin.
And that's what I think of.
Okay, okay.
Like he can't actually get her a drink.
He can't actually get her a drink.
Okay, okay.
And by the way, I'm still working to get the guy on the show,
one of my old cybersecurity sales buddies, Eric.
He was in California at a bar a long time ago,
and he was with a dude who was trying to impress a girl
that they were both at the bar with or whatever.
So he bought the girl's drink using Bitcoin and he spent 12 Bitcoin.
What?
He was like, yeah, I got it.
12 Bitcoin.
Obviously, the drink was probably $12 to $15 out there in California.
And so at the time, Bitcoin must have been $1, $1.20, whatever.
He was trying to impress her.
Of course, now that's like a $1.2 million drink that he bought.
Yeah.
So squadoosh.
But, you know, when you think of Bitcoin, you're thinking of maybe you can have money, but you can't do anything with it.
Yeah, and I know you can use it and it's applicable all over.
So I'm definitely interested.
Can you remember the first time you heard about it?
First time I heard about it, I had a friend who loves Bitcoin, has Bitcoin, uses it,
and has been talking to me about it,
and I'm just kind of in the learning phase.
I've heard about it, but, again, don't know a lot.
So this friend started talking to you when?
Has this person kind of ramped up recently?
No, probably five or six years ago.
Okay, okay.
And at the time, you're like, what, I don't have time for this?
or yeah i was just kind of listening yeah okay yeah so do you let's kind of figure out who you
are are you a saver are you a spender are you an investor are you a gambler you know where what do
you think your vehicle to making it is right because all of us dream about like getting to
a point where we can stop working are you going to gamble correctly on the football game are you
going to be a wall street bro who's constantly checking his phone for reds and greens or or
what you know yeah i think i'll be a saver and i'll just watch um the ebbs and flows um
yeah saver i'm a saver too abes would you say you're a saver an investor slash builder
a gambler i think you know the answer to that question i'm well you know i try to
I mean, I would say that I'm probably an investor builder.
Yeah.
Noise.
Yeah.
AD.
I actually, so I was listening, slight sidebar.
I'm listening to Lex Friedman's interview with Saif Adina Moose.
Oh, dang.
It's like four and a half hours long.
So good.
Oh, my gosh.
So good.
And I'm actually wondering if I could, like, make that count as one of my books because it's four and a half hours.
Totally, totally.
And the Michael Saylor one he does is insane as well.
Oh, dang.
I love how pointed his questions are.
That seems so easy, like so simple to ask,
but he's doing such a great job of asking safety and all these questions.
But anyway, safety and talks about how investing and saving are not the same thing.
Saving is actually buying the future and investing is a risk.
and I was like
save it
and blow your mind
but you don't know who that is yet because you're brand new
so he wrote the Bitcoin Standard
and then he not too long ago
wrote the Fiat Standard
which I want to read that
next because I think that's going to be really
fascinating
but anyway his whole point is that he
talks about
like what
is money
and then getting to like why is hard money valuable?
Why is that not what we have now?
But again, that's probably way further.
But I was thinking the whole point of bringing this up
is not to confuse you or go further than Stuart's line of questioning,
which is going to be great,
but is this concept that investing and saving are very different.
And I love the idea that saving is buying the future,
which is what we actually think when we say like,
hey, I'm going to save this and not do, I don't know, not buy the thing now, but I'll save and buy it later.
So like all the reward points you get at coffee shops, they say like save it for a rainy day.
Like at this point, I've got like $45 saved up for a rainy day for the coffee shop that I go to.
And I'm like, I don't know if I want to buy anything right now.
Like I don't know if I want to pull the trigger and do anything with it because I'm saving.
I'm buying my future, whatever.
Mm hmm. Well, that's all really interesting. And a lot of people do talk about like investing in the future.
But really, like saving is the real investment in the future.
And investing is like trying to make more of what you got or.
But but I'm a saver, too, because I don't want to mess with all that business.
And I ain't got time for all that business either. Right.
Like I'm a dad. I got two kids from the minute I wake up to the minute I go to bed.
I'm just working on stuff. Right.
Yeah.
What am I going to do?
Examine a company's financials to determine if it's a good investment?
Well, let me ask you something.
What are the options to do with it?
Because when I think of having Bitcoin, I'm only going to be sitting on it.
I'm only going to be watching it.
I'm not going to be tempted to spend it at the mall or buy a car with it.
I guess I can choose to save or invest it, diverse it.
What is the bigger question of what can I do with it?
Okay.
Actually, that's a good question.
First, we're going to get you to the point where you want to get some.
And you understand that hanging on to it, simply to hang on to it, is the galaxy brain move.
Then we can move on to what you can do with it.
So let's start with that first, if you don't mind that pathway.
I'm going to give to you.
And I'm open to it and I'm interested.
Yeah.
Okay.
Yeah.
So you're a saver.
How do you save?
Are you putting dollars in a bank account?
Yeah.
Just honestly trying to spend as less as I can.
I love to spend though.
Don't get me wrong.
So you like to buy stuff?
I like to buy stuff.
I have zero interest in buying stuff.
Oh, I love buying stuff.
I literally can't stand it.
I love that.
I love buying stuff with cash.
But I feel like in the Bitcoin world, it's going to be saving.
So I'm learning.
Okay.
Well, the good news is, too, in my mom's episode, she teaches us that, you know, Bitcoin is for savers.
Bitcoin is for spenders.
You can save your money by buying Bitcoin or you can spend your money on Bitcoin and it's saving.
Yes.
It's an amazing alchemical substance.
You get the dopamine hit.
Yeah.
You buy the Bitcoin.
And I do love buying Bitcoin, actually.
I love buying Bitcoin.
but I do that automatically
right on river
so then I'm abstracted away from that as well
so anywho
alright so let's imagine
you're putting dollars into a bank account
cool
if you're anything like moi
then your bank account
pays you like a hot
1% or something
ridiculously low and not cool at all
can I add something real quick
yeah
that friend
years ago did talk me into
buying Dogecoin.
Yeah.
Well, there was a point in time where
Elon Musk was like,
because I was listening to a Jack Mahler's Mailbag
Monday. Elon
Musk was like hyping up Dogecoin
at one point and was like, dude, this is superior
to Bitcoin. To the moon or something. Exactly.
Right. So you did buy some
Dogecoin. I did. Yeah. How much
money did you spend
on this Dogecoin.
I can pull it up.
All right, so this is your Robinhood account.
Yeah.
All right, and it actually,
there's an area called Altcoins.
Mm-hmm.
All right, now, is this list
the list of coins that you have?
Correct.
So you have Dogecoin, Chainlink, Litecoin,
Shiba Inu, bro.
Let's go.
God.
Almighty.
Asgard.
Yes.
And then he, where's Jamie at?
Where's Jamie's episode?
And then you have something called compound.
What in the world?
What in the absolute world?
I don't think he knows.
I was influenced.
I mean, Doge, if I click on this, I mean, your position, total return, negative 55%.
Cool.
Numbers.
We got Chainlink.
I love real numbers.
Real numbers are great.
Yeah.
Chainlink, nothing in Chainlink, actually.
Okay, good job.
Nothing in Litecoin.
Okay.
Nothing in Shiba Inu and nothing.
Okay, for some reason, they're just on your list.
So basically, you have Dogecoin.
All right.
So it looks like you might have bought a couple hundred dollars worth.
That's right.
And now you're down around $150.
So, bro.
So it could be worse.
Could be worse.
Could I transfer it all into Bitcoin?
A hundred percent.
Definitely.
That's the move?
Yes, it is the move.
And it works no matter what the size is.
We spoke to another guy.
His name is Jamie.
He put $120,000 into coins like Doge.
One of them was Doge-A-Lon Mars.
Doge-A-Lon Mars.
Doge plus Elon.
Doge-A-Lon.
Yeah.
Mars.
Wow.
Yeah.
And at the time, it was years ago during the crypto craze of 2017 or so, the $120,000
went up to $400,000.
And he was like, I'm the absolute man.
And then he watched it drop to $15,000 total.
He still didn't do, like, what gets me is he didn't do anything about it.
He was like, I sort of counted it off as a loss anyway, so I don't really care.
Right.
He should have recalibrated when he was up.
He should have never done it in the first place.
Correct.
He should have bought $120,000 worth of Bitcoin.
Because if he had bought $120,000 worth of Bitcoin at that time and done literally nothing else,
we calculated that he would have had several million dollars today.
Yes.
At least over a million.
It's like, dude, stop trying to be clever.
All right.
Only a specific person can jump into this world of the crypto casino and do all this insanity.
Right.
And it's not most of us.
Right.
So.
So anyways.
The move there for you, my recommendation would be to sell on Robin Hood your Dogecoin.
You'll get 150 bucks is what it looks like.
And then you can buy some Satoshis.
You can go stack some sats.
You'll probably be able to get like 150,000, 160,000 Satoshis,
which is there's 100 million sats in a Bitcoin.
Same way there's 100 pennies in a dollar.
So you can buy a penny worth of Bitcoin, 10 cents worth of Bitcoin,
$1, $10, $100, $1,000.
It's beautiful.
It can accept any amount, big or small, that you want to put over into Bitcoin.
But let's get to why you should get some Bitcoin as a savings vehicle, all right?
just because it's a good savings vehicle.
Then we'll talk about what you can do with it,
which is actually quite a bit.
Yeah.
And we're planning to do some heat this year as well,
which we'll get to.
So the savings account.
All right, let's go back there.
Good job.
You're putting money aside for the future
and the bank is hanging on to it
and they're giving you like 1%.
Maybe if you put it into like their money market
or whatever, you get 3% or 4%.
I think my checking account gets like 0.01% or something like that.
Nothing.
Nothing, right?
So let say you put 10 dwillers for the future Love that The bank like cool thanks for letting us make 6 off of this right
So we made $600 as a bank just for hanging on to your $10,000.
You get 1%, right?
So you get $100.
So now you have $10,100.
And you're like, okay, check it out.
I'm saving.
Meanwhile, the government has printed $2 trillion additional dollars, right?
Because they collect $4 trillion in taxes each year.
They spend $6 trillion each year on stuff.
And actually, the largest thing they spend money on, do you know what it is?
Glitter.
Ooh, I love that.
I mean, that's basically what they're spending it on.
They're spending it on the interest on their debt.
we spend more money each year the single our single biggest expense as a country is
interest on our country's debt it's not even defense anymore it's not even health care anymore
it's not social security dodd it's interest pay not even the principal dog we ain't even paying
down the principal dog that's on the that's the interest so and these guys are telling us what to
do with our money oh my god so short story long what they tell you is hey you know the cost of
living has increased two to three percent and that's a we that's our our target is two percent
your target is two percent so like that's like that's like a doctor saying
my target is for you to operate around 99.9 degrees
like your body's supposed to be 98.6 degrees. Why would a slight fever be the correct choice?
Why would operating around the clock with a slight fever be the correct choice for a human body?
Somehow the economy needs to be just a little bit not good in order to be good. Anyways,
So let's imagine that they are telling the truth.
Well, dude, you just lost because you earned 1% by saving in a savings account, but things
are now 2% to 3% more expensive.
So you just fell behind.
And quite frankly, those aren't the numbers.
The real numbers are like 7% to 8% to 9% as an average.
you know certain categories like groceries and gas dog 40 50 insanity percent like you're you're
you're you're you're basically trying to deal with this like rising levels of water you know
in a tube you're you're you're kind of trapped in a canister and the water's just going up
and you're trying to stay up above it but it's going to you're going to get underwater eventually
Right. So saving in America doesn't work if you are saving in U.S. dollars.
It just does not work. Period. The math. Just mathematically. Correct.
I mean, anybody can look at that. Yeah. So people figure out, OK, what should I do?
and some people become investors but it's like a degenerate form of investing where you know
they're on robin hood trying to like run game stop up to the moon or there's just full-on gambling
activity where and who was i talking to oh we did a new year's day mahjong over at my wife's
girlfriend's house i absolutely had no desire to be around anybody husbands were invited yeah there
was a husband table and a wife table wow and the four of us husbands sat down i was like look boys
not a single one of us wants to be here hanging out with each other that's good awareness right
Like, let's just acknowledge that.
Well, that sort of speaks to the whole, like, you guys don't really want to be friends.
No.
Some of these dudes, I'm like, what's your name?
I already forgot it.
I already forgot it, dude.
We're not friends.
I got my friends, dude.
I got my friends.
And then there's a guy being like, why is this guy talking to me right now?
Exactly.
He's like, I just want to drink.
Dude, they're so fascinating about this.
This is so interesting.
But then the wives are like, y'all make it work.
Exactly.
Because we want y'all to be around us, but not playing with it.
I'm like, dude.
Oh, my God.
It's like.
If you didn't have the one thing I wanted.
So the guy at the table.
Meaningful companionship over time.
He was like, dude, check out all my sports bets.
That's a classic move, dude.
Because there was a sports ball game on the screen.
Could have been basketball.
I couldn't tell you.
Stewart's great with sports.
You either have to lean in or lean out when they're.
so so i i had actually been like on in rest mode for the for the because we anna bevan and i busted
butt in december and like i went out into the holiday season i was just like i was steaming
dude i was like i was absolutely toast so i hadn't been talking about bitcoin at all
and i had just been kind of chilling and doing the holidays whatever this dude pulls out his phone
He's like, see, I need this team to do this thing in this moment.
It's not even betting on the outcome of the game anymore.
It's like betting on individual elements of the game.
I'm like, dude, so degenerate.
That's why I got out.
Dude, it sparked, and I was like, guys, why would you ever spend money on sports gambling when you can just buy Bitcoin?
And the women's table, they go, oh, here we go.
What?
Because Stuart's always talking about Bitcoin.
I'm like, hey, if we were suffering from a bacterial infection and I said, y'all, there's penicillin, would you roll your eyes at me?
It's like I'm talking about the solution to the problem.
Why is this annoying you, right?
Why is this annoying you?
Because I think it's not sexy when you – after the game, they win.
They're getting the 300 bucks or whatever.
It's also more socially acceptable, I think.
there's like I definitely
am getting the whole like my family
is like can we be done with this like are you
why is everything a bitcoin conversation
I've like tried to use different
words like hard money
or
like that's going
over really well
yeah or
like if they didn't like
print more money we wouldn't
really have this problem
that's also going over well
but it's just trying to find other ways to talk about the same problem uh yeah but i think sports
gambling is sort of like there's a there's a community aspect around it because if you
if you lose another person also loses you can like bond in the loss like you're not really
bitcoin buying bitcoin is a very individual thing sports betting is a yes you do it individually
but it's also like a community thing.
Yeah, and it's not glamorous.
You know, you're throwing one brick on the pile at a time.
And there aren't any fireworks.
No.
You know, there isn't any dinging or celebration on the phone.
There's no rush of chemicals from the brain.
It's just slow and steady.
And it really only means something over time.
And most people don't have that.
Yeah.
They're not ready for that, right?
So some people invest.
Some people gamble.
Other people try to find somewhere to put their money where it's not going to get destroyed.
So they buy a second home.
And they're like, a home is a good investment.
You know, the government can't print homes as quickly as they print money.
Right?
And as soon as we get 3D printers in the mix, they'll probably...
Yeah.
I mean, we're kind of close.
Right?
Yeah.
So then, like, homes become monetized.
And, like, you're paying for more than just the roof and the walls and the doors.
You know, like, Raleigh's home prices are insanity.
We moved here in the 90s.
Well, at least my mom moved back here in the 90s with us.
And their home from 1995 until today has increased in value well beyond the actual value of the home.
It's still the same dumb house that it's ever been.
But so so you have options, right?
But but like I'm not going to Robert T. Kiyosaki my way into having passive income through multiple homes.
That's definitely not going to be me.
I'm not going to Wall Street to try to trade the market and be that kind of dude.
That's too high energy for me.
And I I literally cannot gamble.
I am logically incapable of gambling because my brain is like, dude, this is literally not designed to work in your favor.
Like we went to Las Vegas for the Bitcoin conference.
I did not do a, not even like one on red.
I literally, I mentally, for some reason, I'm blessed with the inability to gamble.
I cannot do it.
Even with my son.
My son's like, hey, I bet you.
I'm like, oh, I don't get it.
I don't, I don't, I don't accept that bet.
Stupid generation.
You know what I mean?
Like, so, Lion's going to be counting cards in Vegas, like, talking them.
Yeah, exactly.
Talking to them the whole time.
So, when I look at all my options, my best option is just to save.
It's so easy.
You just don't spend it, and then it's there for later, right?
But we've established that the U.S. dollar is not it, correct?
So then where else can I save?
Some people save in gold, right?
Some people save in silver.
They go to the older form of money.
They're like, this new form of money is not good.
Let me go to the old form of money.
And actually, that's not a bad idea at all.
I talked to a gold bug who was like, yeah, back in the 60s, my dad was a gold bug.
we ran this gold shop and he said yeah yeah i like that he was like every two weeks son i want
you to take a little bit of your paycheck and use it to buy gold he's been buying small amounts of
gold for 60 years how's that done great of course yeah yeah yeah yeah where is he storing his gold
i don't know right like that's that's a little tricky problem number whatever right he's wearing
it in jewelry could be you know what i mean so so so you can there's like older forms of money
right but now there's a newer new form of money it's called bitcoin right and even though
that billionaire from the meme can't buy the girl a drink with his bitcoin he can save up
an enormous amount of wealth and then in today's world convert it over to the money
that is being accepted at the moment that he needs it.
So if you're willing to abstract yourself one layer
from the money you use to buy stuff,
you can save in a form of money that is just flat out superior.
No government controls it.
No single individual controls it.
It's money of the people.
It's run as software on individual computers.
like 25,000 of them worldwide. If you want to shut down Bitcoin because you're a government
that doesn't agree with it, where, where do you shut it down? Right. You got Rome marches to Greece
and says, show me Spartacus, the leader of the slave rebellion. And every single member says,
I'm Spartacus. And they go, it's one of you is Spartacus, you know, it's distributed,
it's decentralized. It's beautiful. It's amazing. Right. And so without getting too far into the
weeds. Bitcoin is a form of digital money that just works. And more and more people are realizing
this to where for the past 16 years, it's gone from being worth nothing to $96,567 a coin.
That's how useful it is as a way to pay one another and store value without needing anyone's
permission and without any other person being able to take it away from us, right? You hear
about people getting frozen out of their bank accounts or debanked or do you, you know, do you
really need $10,000 in cash today? Well, yeah, I do. It's in my account. Yeah. But what do you need
it in cash for? You know, do you need to, can we ask some questions? We don't even have that much
here. Like it's a mess. So, so, um, over the past, and we just did this math over the past nine years,
it has averaged an increase of 222%.
Over the past how many years?
Nine.
Okay.
So each year, each year, 222% increase.
And some people are like, bro, stop being...
Last year, Bitcoin like 71 or something?
Last year, Bitcoin was at all kinds of different prices.
But it was mostly around here.
It hasn't gone up 222% over the past year.
And my wife's always like, stop being a total.
But that's why you get the average.
So like there are outliers.
Like there are years where Bitcoin goes up.
A lot.
Like 500%.
Yeah, yeah, yeah.
And then there are years where like last year didn't.
Just kind of didn't do nothing.
It didn't.
Right.
I think it might have gone down 7%.
It hasn't tanked?
No, no.
Not like the tankings before.
Yeah.
Right.
And again, well, we'll get into that.
Relative.
But over the past five years, it has gone up an average of 50% per year.
So let's not even worry about the 222.
Let's worry about 50% per year for the past five years.
And we get over the past 12 months and hasn't done much.
You know what the dollar has done over the past 12 months?
Gotten worse.
So I'll take the not do much in exchange for not getting worse.
But anyways, compare 50% to 1%.
Like which one of these is a better savings vehicle The one that goes up 1 per year while everything is getting 3 to 9 more expensive Or the thing that goes up 50 per year while everything is getting 3 to 9 more expensive
Yeah, I'm in. That's beautiful.
You know what I mean?
Yeah.
So it doesn't matter what you can do with Bitcoin
because the one thing you want to do with Bitcoin is have some
so that you can protect yourself from the money that we have to use in this country, right?
Like, we don't really get a choice of what money we use,
but I at least have a choice of savings vehicles.
And it turns out Bitcoin, for a million reasons,
that will take you 10,000 plus hours to understand.
is the best of all of those possible savings vehicles.
So let me stop there for a second, check in with you here.
Yeah.
That sounds really good.
I've never heard it explained in a way of such clarity.
Thank you for that.
Atlantis.
And I totally see how it is a much better vehicle.
And what's really cool is, you know, right there from Robinhood, you could start getting some, right?
I don't know what the rules are for Robinhood in terms of what it would look like to get it off of Robinhood into your control.
But it's okay to get started wherever you get started.
I got started on Coinbase, which is like the McDonald's of Bitcoin.
And I got about 100,000 Satoshi strong on there.
And then I was like, uh, I want, this is my Bitcoin.
So you give it to me and I put it into my own little wallet and haven't looked back ever since.
But let's talk a little bit about then.
Well, let me ask you this.
Are you interested in other things you can do with Bitcoin or have we gone far enough?
You're like, dude, you know what?
I'm just going to save in Bitcoin.
Or do you still, do you still have that question?
I think I still have the question, but I think I can rest at saving it is the best.
Okay.
Well, now that we've locked that into place, let's push it a little bit further.
Let's do it.
Okay.
So let's go out into the far future real quick.
In the far future, you'll be able to do every single old thing with Bitcoin, period, because
the world will be on a Bitcoin standard.
As soon as all 8 billion people on earth realize that Bitcoin is for them, it's game over for all of the nation state currencies that are swirling around out there in today's world.
You're telling me I can protect myself from your degeneracy as a government simply by buying this stuff that you can't make?
Sweet.
You know what I mean?
No man should work for something another man could print.
Could you imagine working all day for me at my house?
And then when it comes time for me to pay you, I just grab a handful of pine needles and say, here you go, brother.
And you're like, man, that was a lot of hard work.
I'm so glad I made all these pine needles.
But you look around and realize I have like 30 pine trees on my lot.
and I have a never-ending supply of this stuff
and it's completely worthless to me,
but you're busting your butt for it,
that's not cool.
Like if you worked all day at my house
and then I went to my printer
and just pulled out printer paper
and was like, here you go,
here's 60 sheets of blank paper.
Like you did it, brother.
Yeah.
You did it.
That would be ridiculous, right?
So you choose the form of money
that they cannot create.
And that's why you have gold bugs
because the government can't make gold.
All they can do is find it.
Same as the rest of us, you know?
Nobody can make Bitcoin.
All you can do is mine it, work for it.
You know what I mean?
You have to spend energy and computing power to create it, period.
It doesn't matter if you're a person, corporation, government, alien, time traveler, mermaid.
You know what I mean?
Kaiju, you could be a Kaiju.
From Atlantis.
From Atlantis, exactly, right?
Like there's no way except to follow the rules.
So in the far future, everyone has Bitcoin.
I believe the world will be on a Bitcoin standard.
And you will spend Satoshis.
You know what I mean?
Like instead of a Coca-Cola costing $4, it'll be four sats.
You know what I mean?
So it's really cool to stack Satoshis right now because you can get like 1,000 Satoshis for a dollar.
But you can imagine in a far future world, those 1,000 Satoshis having the same purchasing power as $1,000.
So you can kind of like gobble up this future money at a discount.
A crazy insane discount.
Could you sell like your house or your car?
For Bitcoin?
Trade it, yeah.
In the far future or right now?
Right now.
Yes.
Technically, yes, right?
since the Bitcoin network allows me to send my Bitcoin directly to you,
you could sell your home directly to me
and I would send Bitcoin directly to you.
Transaction's over.
You know what I mean?
It's just like handing you a $100 bill in exchange for a bicycle.
You got the bike.
I got the $100.
The deal is done.
It's like every Facebook marketplace deal ever.
Yeah.
We don't need a bank to get in the way.
We don't need a credit card company to get in the way.
We don't need an escrow to get in.
We don't need somebody to settle it.
There's no third parties, right?
So you absolutely could.
And some people do sell things for Bitcoin.
Saif Adina Moose sells his book for Bitcoin.
And he sells it for less if you pay in Bitcoin.
It's like $20 in fiat, but it's like $17 worth of fiat in Bitcoin if you pay him in Bitcoin because he knows Bitcoin is more valuable.
Yeah.
So in the far future, you can do whatever you want.
What can you do today with Bitcoin?
All kinds of stuff.
the biggest thing we've been talking about across season two is you can get a loan against your
Bitcoin. This is not something I've ever been able to do in my life because I'm not rich.
But Jeff Bezos or Elon Musk can say, hey, I have an asset. Okay. It's a thousand shares in my
company. Or it's this big tract of land or it's, you know, bars of gold or a home, whatever.
You can go to a company and say, hey, if I give you this asset to hang on to, you'll let me borrow against its value, correct?
And like 100%.
You know what I mean?
We like to call those B-locks.
B-locks.
Bitcoin equity line of credit.
Just like your home equity line of credit.
They say, hey, your home is worth $400,000.
You can't spend your living room at the grocery store.
Yeah.
So what we'll do is we'll give you $200,000 against the $400,000 value of your home.
And then you can spend that at your discretion.
It's a safer loan than an unsecured loan because if something goes sideways, well, the house is the collateral for the loan.
You'll just sell the house, pay off the $200,000, and then you have $200,000 left over to go make a down payment on another home or what have you.
The same is true for Bitcoin.
So Bitcoin is money, but Bitcoin is also an asset.
The same way light is a wave and a particle.
It can be two things at one time.
So you could go and say, hey, I have one Bitcoin.
All right.
And instead of $96,747, thanks to the UTX Oracle, we'll just say it's $100K.
So we could go to a lender like Salt, for example.
Hey, Salt, I have one Bitcoin.
They're like, cool.
You hand them the Bitcoin.
they say it's worth $100,000, you can borrow $50,000, right?
Technically, with SALT, you can borrow like $70,000.
But different lenders have different like thresholds that they're willing to.
So some 30% of the value, some 50, some 70.
Either way, you can get money out of your Bitcoin.
That's what I'm trying to say.
You can get money out of your dang Bitcoin.
And by the way, the sucker goes up 50% per year on average over the past five years.
Yeah, no brainer.
It means that at the end of the year when your loan is due, because by the way, most of these lenders don't charge you monthly interest.
They just record that it has occurred and you need to pay it all at the end.
And they say, hey, listen, you gave us $100,000 worth of Bitcoin last year around this time, and you took out $50,000 worth of cash.
Now you owe us $55,000 because of the interest.
Do you want to pay that off?
Or since your Bitcoin is now worth $150,000 and you can borrow up to $75,000, do you just want to roll it in the next year and get another $20,000?
Yes, I would.
It's that Jeffrey Bezos buy, borrow, die madness where they have an asset and they kind of siphon U.S. dollars out of it as it's growing and they never really ever pay it off.
But they never sell their thing either.
It's insane.
And I've not ever had access to that in my life except for through the HELOC, which is kind of the same but not really.
With Bitcoin now, you can make it happen.
So you could take $10,000 worth of Bitcoin,
give it to a company like Salt,
get $5,000 back, pay your tax bill.
And then next year it's worth $15,000
and you pull out another $2,500,
pay the next tax, like crazy.
You can do that, right?
Yeah, it lets you have your cake and eat it too, I guess.
So you don't have to sell the thing
that you want to buy your future.
And let me tell you an example that Jack Mahlers gave on his most recent episode of Mailbag Monday.
He's the CEO of Strike.
He's like a total Bitcoiner.
He does like a little podcast from this gigantic closet in his house that like my wife would love.
There's like a central bay in it.
There's room for shoes.
There's room for clothing.
like it would be every girl's dream walk-in closet there is literally no items in that closet
because for him nothing is worth more than owning bitcoin he doesn't have anything at all in there
i'm like dude you're the man anyways he has and we need to meanwhile i'm like that seems like a
real big waste of space anna bevin has been exploring strike for us she's been buying some
satoshi's weekly on strike i've been exploring river he's come up with a suite of products where
when you get paid by your employer you can actually have it sent to strike instead of your
bank strike takes the fiat currency which is fiat is basically government money fiat is is
is like a latin word for by decree okay when a government says this is money they're just saying
it's money. It's by decree. They're like, let it be so, bro. Like, okay, I guess these slips of
green paper mean something. So fiat money is government paper. So when you get paid in those,
when you get paid in government pine needles, strike will automatically convert it to Bitcoin.
So you can kind of dollar cost average and fat chunks every two weeks into Bitcoin.
So here's what I learned last night, which is really cool.
Because I knew on strike you could get, you could convert your paycheck into Bitcoin.
Then you can use your Bitcoin to pay all your bills.
Like you hook it into strike and then like, okay, your credit card payment is due.
They'll convert some of your Satoshis back into dollars and pay your credit card.
But now, and this is insane.
Ready.
Now they can automatically create a line of credit off of your Bitcoin.
so you can imagine let's imagine you convert thirty thousand dollars worth of your paychecks
into bitcoin um but this month you have a three thousand dollar credit card bill
instead of selling off three thousand dollars worth of satoshis and now you have twenty seven
thousand dollars left they'll just give you a loan for three thousand bucks off of your thirty
thousand dollars worth of bitcoin and pay it so they basically automate the buy borrow die process
where instead of taking out a loan as a chunk they just kind of scooch it whenever you need it they
just automatically generate a little bit more a little bit more a little bit more it's crazy
balls so last night i was like wait are you telling me it would be possible to buy bitcoin
with my paycheck
and then never spend the money that I earn
because I'm just borrowing against it.
Each time I need to spend the money I've earned,
I automatically borrow against it instead.
If you ever get upside down,
that's money you've already saved.
So you just sell the Bitcoin to get yourself true
and whatever the remainder is, you still have.
And you're back.
That is wild.
And I was like, what?
I was like trying to like handle it.
I was like, what am I?
Where am I?
You know what I mean?
Like, is this real?
Wow.
Is this real Wow Could you imagine that I mean technically you would need to only live off half your income because I believe Strike will only let you borrow up to 50 of the value of your Bitcoin versus Salt will let you borrow up to 70
And they will let it ride up to like 90 or 91 or 91.16%.
and then if it gets to that level where it's getting about to be one-to-one,
they, like, convert it over to a stable coin before you get wrecked.
And then when Bitcoin figures itself out, they, like, put you back.
Anyways, short story long, like, you would need to maybe live at half your, you know,
which I don't know.
As a dad with a wife and two kids, I'm currently not living at one half the money I'm making.
Yeah, so I think that figuring out how to do that, one, it's awesome that there is a way to do that.
It's easing the friction of people doing more with their life in Bitcoin and thinking about more things in Bitcoin terms.
But I wonder what that sample size looks like.
I mean, you're already dealing with a lot of people.
It sounds like he's just trying to keep people on his platform using his tools over like a salt.
Yeah, he's definitely trying to create like a modern bank for the Bitcoin standard, which is nuts.
But point is you can do some stuff.
You can do some incredible stuff that's kind of hard to understand.
But there are people out there that are pushing and pushing and pushing to make it easier and easier and easier for people to do this stuff.
Like we just had a lady on yesterday from a company called Canaan.
This is the last example before we jump over to the hummus.
They make space heaters.
And like when you plug in the space heater to heat your feet, it mines Bitcoin.
Yeah.
And it was quiet.
Like that's the part that I like can't get over.
It was underneath her table.
Couldn't hear it at all.
Dude, get paid to heat your feet.
Actually, that's the first time I ever heard about Bitcoin.
There was a guy heating his house.
Yeah.
With it.
Dude, I totally want to do that.
I definitely want to do that.
Get paid to keep your home warm in winter?
Yeah.
Get paid to take a hot shower?
Yes.
You know how many hot showers I would take if I got paid to take a hot shower?
A lot.
More than the amount I'm currently taking, right?
Okay.
So let's back it all up, though, to the big breakthrough for today.
Even staying away from all the possibilities of Bitcoin,
the single best thing you can do in today's world is save with it.
Because, by the way, I guess if you're converting your paychecks into Bitcoin
and then you're spending against it, it's also increasing.
So you don't necessarily need to live at half your income
because your income is going up by 50% a year.
Insane.
Like, I got to figure this out, dude.
But you got to start that way.
Like, you have to start at the more conservative approach.
Yes, yes.
And then you have to have the ability to be able to flex
when Bitcoin does what it did at the end of last year.
Yeah, yeah.
I definitely believe that.
Me, personally, I'm going to need to start small with my wife
and say, hey, look at the Bitcoin we've already built up over the past two years.
Half of this is the same as our tax bill this year.
Let me, let me, what I'm going to do is I'm just going to put this with salt,
get half back out, pay the tax bill.
Now the money, you know, that the money for that tax bill never left our account
because we borrowed it against Bitcoin.
But this is not at risk because if anything ever happens to it,
It's literally we already have that money.
We would just sell it and get the remainder back.
How do we feel, y'all?
You know?
And then maybe two years from now, I'm just like getting paid in Bitcoin, taking small loans against it as I live on.
Insanity, right?
Like there's a part of Bitcoin that makes you want to dive in with both feet and get all the way down to the bottom because of how powerful and life-changing it is.
But you have to pull back and say, hang on.
How about I try buying $50 a week?
Right?
And we saw recently that if you bought $50 a week, right now,
and Bitcoin went up 80% per year, every year for the next 10 years,
which again, 222% over the past nine, 50% over the past five, you'd choose.
$50 a week?
$50 a week.
Yeah.
Every single week for 10 years, 80% annual growth.
by 2035 you would have 700 million dollars what is that what it comes out to yes yes i think i can
find 50 a week so right even 50 a month over that same time period at 80 growth is 120 plus million
bucks or something 128 128 million like dog what am i even doing forget the gambling app forget
forget Wall Street, bros.
Forget monetizing homes or chasing after gold coins.
I'm just going to buy $50 a month worth of Bitcoin
and see where this sucker goes, right?
Because as it proves itself,
you can get more confident in it.
And you also get more options.
That's really cool.
Yeah.
The possibilities in the future
to actually get out ahead in life
are amazing.
And the possibilities to protect yourself right now
is super dope as well.
So we love Bitcoin.
We also love Ithaca Hummus.
Yum.
Yeah, so this brings us to our
Buy the Dip sponsor, Ithaca Hummus.
And so to...
Here's the contact info for Ithaca Hummus.
It's IthacaHummus.com.
Yes, it is.
So we are going to taste this all together
as an ASMR experience.
and you have selected the...
You can take a real piece.
You can take a man cracker.
I take a small piece.
All the half pieces are hers.
Oh, okay.
And a little bite.
Okay.
Do I need more?
You can have as much as or a little as more.
I mean, in fact, this...
We'll do it all at one time.
All at one time.
I'm going to get a fat glob, dude,
because I love this flavor.
Ready?
One, two, three.
Mmm.
That's immediately delicious.
Mm-hmm.
Wow.
Literally first.
It's incredible.
So good.
Mm.
God, there's some lemon in there.
Man, I was so.
Oh, my gosh.
This mess is a good batch.
That is yum nation right there, dude.
This, we are.
Wow.
This is our gift to you for coming on the show.
Y'all are so sweet.
Yeah, that's your tub right there if you want to go in.
I'd like to go in for another one.
I'd be grateful.
Thank you.
Absolutely freaking delicious.
Have you had it before?
I've not.
Oh, man.
Yeah.
So here in Raleigh, it's everywhere.
Yeah.
Wegmans, Costco.
I think you can get the big tubs of grasa maybe.
Make sure you get that T in there.
Whoa.
Cost.
The Cost Company.
You can go down to the Cost Company.
Uh-huh.
Definitely.
Is it at Harris Teeter?
Maybe.
Uh-huh.
Whole Foods for sure.
Yeah.
You can throw a rock.
Everywhere except for Trader Joe's pretty much because they're kind of insular.
Yeah.
I also forgot to ask you
if you would be willing to come back on in nine months
to give us an update on your Bitcoin baby.
I would be honored.
100%.
We're going to get rid of that Dogecoin.
I know.
That Dogecoin is going to be gone.
That's going to be a great update.
It's like a little novelty coin or something.
We're going to sell it off Robinhood.
We're going to buy.
You can just leave the money on Robinhood,
buy some Bitcoin with it.
That'll be better.
That's something you can do at a red stoplight here in Raleigh.
Okay.
Maybe a little more attention than that.
Like a yellow one or something?
Yeah.
Sure.
Just as you're cruising through it, you can be like, ooh.
Right.
Exactly.
And then you can explore ways to buy more.
Maybe it's on River.
Maybe it's on Strike.
Maybe it's on Coinbase.
Maybe it's on Bitcoin.
Well, whatever.
Right.
Just find a bit.
Crack in.
Yeah.
There's a lot of places out there.
Okay.
Just stay.
If the exchange offers you other options, like, hey, yeah, here's your Bitcoin.
But did you know Doodoo coin is up 1,000%?
Don't do it.
Don't go for the Doodoo coin.
Don't do it.
There's literally a coin called Fartcoin.
So don't do it.
All right.
Just Bitcoin.
Yeah.
All right.
And so this brings us to another gift.
Okay.
We have our Cash vs. Sats giveaway moment brought to you by Salt.
Wow.
Yeah.
I know.
Very exciting.
And our very own.
123 Sean.
Let's go.
She's getting it.
I thought you just like saying that part.
I do.
Yeah.
But I want, but it's, what do you call that?
Where like two people train on the same thing in a company?
Cross?
Doubling up?
No, there's like a word for it.
I don't know.
Either way.
Here at Tatchats, we believe in value for value.
And in exchange for your time and coming on our show,
we'd like to give you your choice between $50 in fiat or $50 in Bitcoin,
which at today's exchange rate is 51,387 satoshis.
What would you like to choose?
Bitcoin.
Yes.
Choose Bitcoin.
Excellent.
High five.
Choose Bitcoin.
Excellent.
High five.
Come on.
Yes.
Get the Bitcoin, man.
We will stack your first 50 bucks for you.
Yes.
You get to decide if that's your first month or your first week or what, right?
but either way
things will work out
over time
you also get one more
gift from us here
hang on
I know
so this is a
this is a pack
of trading cards
wow
and
they kind of
break down
concepts
into
little bite sized
pieces that you can
trade and shuffle
and have fun with
yeah
this is from
number 83
Aladdin
over here
I love how people
on our show
people come on our show
and they're like
we love what you guys
are doing so much
we want to help
support it
here's stuff
here's trading cards
you can give out.
You know,
here's salt helping us out.
We're having a really good time.
Here's hummus
that you get to taste
and take home.
Incredible.
Pearl Collective.
Yeah.
Sponsoring our production.
Okay.
So,
TomTom,
do you want
to send our
satillionaires
in the audience
any old way or online
to spend more time with you?
Are you all good?
What's your situation there?
Trying to plug
something up in here?
Yeah.
Instagram, I guess.
TomTom233.
Were there really 233 other Tom Toms?
No, but it was like an address or something.
Oh.
Tom Tom actually, and I just learned this like two seconds ago, can sing really well.
Wow.
Did you learn it on the show?
Like last week, he told me to look up a certain song on Spotify.
Was that him?
It was him.
Casual love.
It sounds like it was something you developed for, is it like the Aldert Root fun run?
Correct.
Dude, that's so crazy because we do a fun run at Lynn Road.
And I went home.
I was like, Kristen, check this out.
This is an entire song about the fun run at Aldert Root.
What?
Okay.
And it's called Running with Rudy.
It was freaking amazing, dude.
And his voice is amazing.
Well, thank you.
And I was like, dude, we're clowning over here at Lynn Road.
I ain't got no song.
I know.
I was more like maybe TomTom should sing our, like, should do like an intro for us.
Oh, nice.
Yeah, like maybe a song.
Or maybe that turns into like a short stack
where we do like a music video acted out version of TomTom's song.
I will say that I want to do a video called Bitcoin is a Girl's Best Friend.
Yeah.
Right, kind of like diamonds are a girl's best friend.
They're not.
Diamonds are just engineered to be scarce.
It's a lie, y'all.
Bitcoin is a girl's best friend.
yeah i will say i've amended my thought i did some more thinking about if someone proposed to
me with a bitcoin because i originally i originally said i would want the ring as well
i think i would be okay with like a like a fake diamond yeah yeah i still want something there
but i think i'd be okay with a fake diamond because i'm gonna jump on that moissa night
yeah i thought you were gonna say you you'd rather him propose with a bitcoin
Well, yeah, if he's proposing with the Bitcoin, I'd still want a ring, but I would accept a fake ring.
100%.
Yeah.
Do you accept me and my one Bitcoin to be your lawfully one?
Yes.
That has beyond.
Yes.
That's a good investment.
Yeah.
So.
So I've come around on that thought.
If you guys are trying to figure out how to win Anna Bevin's hand, it may or may not include one Bitcoin.
A full Bitcoin.
Get your dowry.
Get that dowry right.
Yeah.
Just jot it down.
Exactly.
Yeah.
Excellent.
All right, Cotillionaires.
If you have enjoyed today's show with TomTom, click subscribe at your chance to win 2 million sats when you get to 10,000 subscribers.
If you would like to find out more ways to support, to sponsor, and even grab your slot in the studio, you can do so in the show notes below.
And Sat Chats is for educational purposes only and should not be construed as financial advice.
Our guest views are their own.
And until next time, keep stacking them sats.
Stack them up.
Thank you.
Thank you all.
So subscribe for 2 million sats and then go get a loan for 1 million sats worth of purchasing power.
Totally.
Come on, dude.
We'll get you started.
Yeah.
All right.