For us bitcoiners, the FIRE mentality makes sense. FIRE means Financial Independence Retire Early, and it’s a group of people online talking about investments and stocks and dividends, making plans on staying thrifty and figuring out ways to game the rigged system we’re living in to retire early and live on what you have.
Low time-preference, saving up, investing in appreciating assets, that should make total sense to a bitcoiner.
And yet, FIRE guys never seem to grasp bitcoin.
They’re too focused on the fiat way of thinking. They want dividends, and because bitcoin doesn’t pay dividends, they dismiss it.
An epitome of ignorance is this FIRE guy’s post: https://x.com/TheTrueFIREGuy/status/1819837123253391721
I’ve spent a lot of time over the last 7-8 years learning about the tech. There’s nothing of value there.
It’s digital gold and nothing more, which is fine but we shouldn’t lie about what it is to convince others to buy it
There’s nothing wrong with it being a risk asset
— FIRE Guy (@TheTrueFIREGuy) August 3, 2024
Read the comments by the other bitcoiners too, they’re a thing of beauty.
He claims to have studied bitcoin for 8 years and is still not convinced. He’s ignoring the fact that if he had invested in BTC 8 years ago, it would have vastly outperformed any other stock or business investment he has done during this time.
And it still doesn’t seem to click for him, arguing in the comments, being bitter because he missed out on an easy way to do the exact FIRE thing he’s aiming for.
Someone linked him this article and it’s truly an amazing read, you should send it to all your TradFi friends and frenemies
https://www.citadel21.com/why-the-yuppie-elite-dismiss-bitcoin
In short, FIRE guys never like bitcoin because it gives you no dividends.
Their mind is stuck on fiat.
Oh well…
Here’s a way to earn dividends on your Bitcoin if you really want that https://loveisbitcoin.com/infinityhash
