i was craving more like advice and tips on personal finance and so that's something that
i'm trying to do more is just push out more of like the way that i think about personal finance
because i think i think it can be helpful the way because we're all constantly having this thing of
like how much fiat do i hold how much bitcoin do i hold and price prediction any thoughts
i think i think we are i think the price is gonna be so high the bitcoin is the money
hey welcome back everybody to altcoin daily do not tune out tune in we're preparing you for 2022
in this video we have bitcoin lead at choice brian harrington also volunteer at oc bitcoin
network a bitcoin meetup in southern california today we're talking about budgeting with bitcoin
what you need to know going into 2022. brian how are you doing today what is up guys merry
christmas happy new year happy holidays yeah just trying to bring the energy new years fire
me up i'm already just a very planning person but as as i see that blank slate i just like
continually like write down bullet points and write down bullet points and so yeah i brought
you four tweets today that i just want to tee up how i'm thinking about the new year i love it guys
smash the like button send this to your dad send this to your wife send this to whoever because
i don't know about you but i stack bitcoin i have a you know it's all relative but i
feel like i have a nice little chunk of bitcoin and it's just like now what i have the bitcoin
like i just like is there is there a point number two yep brian i'd love like what do you think yes
no and i love that you brought up like sending it to your parents and sending it to your spouse
send it to your partners because i'm all about that like families that stack bitcoin together
stack more and so that's what i'm teaming up with here is we've all heard about the macroeconomics
we all understand the fundamentals we all watch all coin daily all the time and we understand
cryptocurrency investing we're dialed in we're dialed in and now what i'm interested in
is watching bitcoin take ground in the real economy and take ground in people's
minds and in their personal finances and that involves our families that involves our families
and our spouses and so yeah first tweet is i just want to highlight this i think ben cartwright
here asked a brilliant question this is off the back of this preston pitch thread great thread
on just kind of how like how we're measuring the growth of the stock market since 2009 wrong and he
corrects it and then shows how the growth is way lower than the top level numbers are predicting
and ben says this is all great info where do i go now i've reached what i consider my max bitcoin
allocation i'm dollar cost averaging but what else can i do and i said this look now's the time for
us to work on using the tools that help bitcoin move more and more into our personal finances
and you can look for ways to have bitcoin replace fiat in your life like literally go through your
accounts and go through the financial apps that you use and go through the conversations you have
with your um everyone in your family about where you're buying dinner and like what you're doing
for fun just all those conversations and just say can bitcoin replace fiat in this conversation
and just start to take ground because as we transition as individuals transition it'll
help the whole world transition i think that's a big point that i've been like thinking about
more and more recently is that we don't need the world to jump first we like the individuals can
jump first and so that's what i believe is uh is the now what and so kind of trends that i
believe are backing this up are this look in 2020 the oc bitcoin network we were able to sign up
one restaurant to start taking bitcoin okay and then in 2021 what happened starbucks pizza hut
um and mcdonald's are all taking lightning network like that all happened in 2021 and so the fact
that for and they're doing that in el salvador and the fact that fortune 500 companies are running
lightning network payment processors in 2021 i think super speaks to like we all talk about
this gradually then suddenly and so i think but we all kind of have a little bit different opinion on
like when the suddenly is going to happen what the suddenly is going to look like and one of
the things that my brain keeps coming back to is if three fortune 500 companies are already using
lightning payment processors in 2021 that that's kind of a signal that this suddenly is going to
come faster than i believe a lot of people give it credit for so that's on businesses accepting
bitcoin okay let's go on the people getting paid in bitcoin in 2019 russell o'conn nfl player
famously tweeted out like paying me in bitcoin and but he couldn't get it done that year
it took till the next year and because the tools weren't there yet the establishment wasn't willing
to negotiate wasn't able to do that but in 2020 like the um in 2021 what happened aaron rodgers
one of the most famous players in the same league tweets out i'm being paid in bitcoin so then again
that's another signal that the suddenly is gonna happen way faster than we're giving credit for
and not only is it possible for like famous people to be paid in bitcoin the direct deposit products
for regular people got rolled out to everyone so now almost everyone at scale can go type in
their checking account in their routing account from multiple apps now and be paid in bitcoin
so that's enough so so the uh proliferation of being paid in bitcoin and businesses accepting
bitcoin leads to this in 2022 i'm really trying to rethink like bitcoin has been savings and i've
been using bitcoin like as my savings account for multiple years now and that part is solid
like you can go on bitcoin twitter you can go on bitcoin youtube see bitcoin has one savings it's
one savings very hard and is continuing to chunk down it and the ramp at which people understand
the bitcoin in savings is getting into like high high percentages of people understanding that
what i think those other signs are starting to show is how much people are moving over
other elements of their personal finances into bitcoin and so in 2022 this is how i'm trying
to structure my accounts before we get into this before we get into this just to recap everything
we just said i guess the my takeaway from the knowledge bombs you were dropping is you know day
to day it could seem like nothing's really going on with bitcoin it's kind of boring especially
with the price volatility just chop it around but really so many green flags have been popping up
whether it be fortune 500 companies you know using bitcoin lending network whether it be
you know a series of nfl players saying pay me in bitcoin and i'm getting paid in bitcoin
all of this stuff is you know little green flags that shows us the suddenly is about to pop off and
you know get ready for it and i think a lot of people in our audience are saving in bitcoin
right now but saving in bitcoin it's only getting more popular and you know eventually you have to
think about well i have my one stack of bitcoin how do i level up my game how do i you know price
my life in satoshi's rather than price it in fiat because you said in our on our show once that
you know maybe like the s p the stock market is up versus uh uh you know fiat or seemingly but if you
price it if you price it in um i i i can't recall how to explain it but if you price your life in
fiat basically it's like you don't realize that you know it's getting devalued you know year after
year and if you start pricing your life in bitcoin um that really like helps you save a lot better
yeah no fiat is like a like a bucket with a hole in it and we're just leaking value like
at a personal level we're looking value at the company level at the country level at the county
level and so that's like what i'm starting to like think is happening more and more is that you know
how bitcoin like moves in classes like there's everyone that adopts in 2013 and then everyone
that adopts in 2015 that everyone in 2017 and how those groups get bigger and bigger i i think
a lot of what happens on twitter is people from different classes like talking past each other
and i think what's happening is that we're getting to the point where it's like people in each like
kind of this is super over generalizing but it's like people in every class are kind of meeting
others that are facing the same kind of questions that they're asking and i think people are asking
hey what should i do with this emergency fund that's like sitting in fiat or what
should i do with this retirement account that's like sitting in fiat and people are searching
searching for tools and so the fact that there's tools now to get paid in bitcoin or there's tools
now to move your retirement account that's stuck in a place that doesn't let you invest in bitcoin
into bitcoin the tool that's that's an overarching theme of 2021 in my brain is that
the tools are now here the tools are here
for if you're leaning into bitcoin in one element of your life but you're asking the now what you
there's so many other tools out there and so if you haven't played around with all of them
that's what i think is um i just think that trend is going to continue to take off in 2022
is people finding tools that solve the little pit little bits of their like personal finances
i love it brian let's jump into that tweet man i want i'm interested it seems like you have like
a few different buckets that you're putting your bitcoin in yeah i want to see it yes so i'm i'm
i just want to use bitcoin as my money and i don't know how this will go next year but i'm setting
myself up mentally to do this and because i haven't used the paycheck um feature products yet
for to like take my like paycheck in bitcoin but i want to and i'm like talking to my family and
whiteboarding it out and thinking about how budget could look next year of like doing this because
to be honest it comes from like a financial place but it also comes from kind of a like an activism
place and it's like i don't want to use fiat money anymore like i don't want to just retweet
these like stories of like negative things that are tied to fiat like i actually want to lean
into that like i think i think bitcoin is changing the world and so i want to be a part of leaning
into that and i believe the tools are here that anyone can go on bitcoin and move more and more
of their life onto bitcoin i don't think it's just for cypherpunks i don't think it's just
for nomads i don't think it's just for single people like i think it is for people that have
families and people that have mortgages and people that are just people like you know sitting like
on the other side of youtube as i often do so much and so yeah i just wrote this down of like
i'm gonna use a product that lets me deposit my paycheck into bitcoin and i'm gonna hold bitcoin
in lightning wallets to use as my checking account and then this one this one's easy like i've been
doing this one for a long time like i i use casa like and i use unchained and i use these
like savings products to protect the stats and then like stats on their retirement account this
was a big one that switched for me this year i like and i admitted this on spaces the other day
like i started this year thinking that it was too hard and too complicated and thinking that
fidelity was just going gonna turn it on and then i wouldn't have to switch anywhere else
and what has happened if we've been watching the news what happens with the banks they only turn it
on for rich people and that's super annoying and so there has to be custodians and there has to be
tools like choice that allow people if they have fiat stuck in investments that they're not happy
with anymore they can transfer them over and they can roll them over and so the tools exist for that
and that's a big thing that like i learned this year and then and what brian's talking about is
choice ira uh you can use our affiliate link in the description set up your retirement account
fifty dollars in free bitcoin and i encourage everybody to follow brian on twitter linked below
because he drops gems like this all the time and if you have questions specifically about
any of this stuff don't waste his time but if you got a quick question he does answer which is cool
the dms are always open i've said that like um i'm not sure the establishment answers the dm's
but bitcoiners do answer their dms and i i love like talking to people because this this matters
to me a lot of like seeing people switch off the legacy apps and switch on to um the bitcoin apps
yeah and all uh here's the link right here of what it looks like but yeah so then and
then here's an example of thinking in sats and we only we're going there a little bit but it's like
i actually am from an investment perspective like i actually do still like really believe in real
estate like i think there's a lot of things that bitcoiners and people that invest in real estate
can learn from each other because i think the way that um real estate investors have kind of just
gotten like very favorable treatment and they've almost be seen as like too big to fail and like
kind of good for america and like things like that i actually like believe that that's the direction
that bitcoin is going like i do believe that bitcoin is gonna solve a lot of issues that the
country's facing and so i the way that i'm doing that is i do invest in real estate i do own my
home and i do have a uh rental property and i like but when i think about the equity in those i think
about the equity in terms of stats so like my wife and i have an excel sheet and we convert like that
amount the dollar amount on paper of equity like over into sats so that we're just continuing to
work that muscle of thinking about that and then so instead of holding like a fiat emergency fund
in the new year i'm real like i'm going to just hold fiat lines of credit like as the
emergency fund so that's kind of from a budgeting perspective the way that i'm i'm thinking about
2022. i love it and is there one of those that you set up first like one that's easier to get
started with i mean i think that obviously the retirement account is pretty easy with choice
these two for sure like the state yeah like saving the bitcoin and retirement accounts in
bitcoin are for sure the easiest and they're the ones that i'm the most familiar with and
like people do can move in stages in this like if you're if you've if you're still working on your
thesis of bitcoin and you're still researching cryptocurrency and you're still like dabbling and
dollar cross averaging in and like doing it that's awesome like that's extremely awesome and um
one thing that i think when i was like kind of trying to come up
through bitcoin twitter and like find other bitcoiners to um follow i i was craving more
like advice and tips on personal finance and so that's something that i'm trying to
do more is just push out more of like the way that i think about personal finance um
because i think i think it can be helpful the way because we're all constantly having this
thing of like how much fiat do i hold how much bitcoin do i hold and so there's not there's not
a one-size-fits-all answer on that um but so saving savings the bitcoin is the easiest and
that's why so i'll just like move over to the retirement account real fast because i promised
you guys we would do it we would do a fast episode but i love talking about personal finance and so
like once you're dialed in on your savings thesis and you realize that you still have
money at schwab you still have money at fidelity you still have money at td ameritrade it can be
like finding a bucket of money that you can still move into bitcoin if you want because they aren't
giving you the choice and so that's what's awesome about that is that you can transfer over penalty
free if it's in a 401k of a job you've already left you can roll it over penalty free and it
stays in that kind of account and then you can get it into the kinds of investments that you
want so that's um yeah if you have funds stuck in the legacy world there's you have no like
reason to hold them anymore if you don't want to is uh that's the cap on that totally also if you
invest or trade crypto and don't you want to trade with zero capital gains tax government
lets you do it with zero capital gains tax with a choice or any retirement account yeah my i i don't
really have a question but just my summation of like what we talked about me personally i
don't feel i have enough bitcoin yet i still feel even though you know it's all relative
you hold some oh my god you wish you had some more just because there's such a finite supply
what i related to the most is the savings and anything that lets me accumulate more obviously
the other the other half of that is the spending for you but i think one of the easiest things
that anybody can do is just set up their life you know how can i be passively accumulating morbid
there's we've been exploring this this year and there's this connection between
the checking mindset and the like ira mindset and it's like i've i've called it this my ira
locked up the end game like you know we talked about how fast things are happening 30 years from
now when i retire i then have those bitcoin that i'm gonna like with like distribute in kind and
move into the bitcoin economy and i completely agree with like spending bitcoin is just funny
for some people and we get like caught up in a little bit i kind of have this thesis and we'll
see how it plays out next year that if you're getting paid in bitcoin and like living on bitcoin
you're actually going to end the year with more bitcoin than if you were kind of keeping a foot
in both worlds and i think the software is going to start automating that more and more and so it's
like the ira is simple you like can do that today and you lock up the end game and the software of
like doing the medium term i think is going to come a long way in 2022. i love it guys again i
encourage everybody to follow brian harrington on twitter below everybody check out choice and
um my final question brian is as we're gearing up to 2022 we're even thinking into the 2020 decade
javane predictions you have any hot takes you have any things you think might happen
yeah no look my my big idea and i just like bold i guess like um not prediction but just like the
way i'm seeing the future is honestly i don't buy that like this kind of dual path of like bitcoin
backed like fiat loans like rolling people's lifestyle i think those are transitionary tools
i don't believe that's the end game because i actually think that producers like businesses
and like employees if we're already seeing this payment bitcoin movement happening so fast in 2021
i just don't understand why a producer why an nfl player in 2028 would be like oh yeah pay me
in dollars from your bitcoin backed loan so i just think there is kind of gonna be this like
like hammer that's gonna come down where people are gonna say
uh no i'll take the other one thank you very much and price prediction any thoughts
i think i think we are i think the price is gonna be so high that bitcoin is the money
damn and i totally relate to what you're saying that i think humans in general have trouble
um visualizing um not parabolic but what's the exponential exponential movements you know a lot
of people see it can totally understand a linear move up but if we look at the value of money i
think turtlemeester's even tweeted this out you know it goes a little bit and then all at once
yup yes yes exactly all right brian all always awesome to have you on um
everybody check out brian linked below final thoughts for the altcoin daily audience
that's it shout out to all coin daily shout out to everyone who watches
every day um hope you had a great year so plan for next year and we'll see you then