For most of you reading this, I get that you could probably care less what the value of Bitcoin is. And normally, if I was in your shoes, Id probably say the same thing. But I think that people really need to start paying attention to Bitcoin and other cryptos that are out there.
Let me be clear that I am NOT an economist. I am also NOT an investment advisor. So, DO NOT take what I say as advice. I am merely stating my opinions. If you want to invest, go find an advisor.
It didnt take to long after I made the offer on the house for my brother to tell my mom and dad, and then for them to spill the beans with the rest of the family that we are close with. And the backlash has started.
Ive already seen and read comments that I must be some sort of drug dealer, or that I must be doing something illegal in order to buy a house at my age, in cash. Ive also seen a few from one Aunt in particular that I knew it would come from that if I have that much wealth, why was I hiding it, and that I should help my family out so they dont have to deal with the “struggles”.
I have only two words for that particular aunt, and they are not very nice: Fuck You! I do have plans to take care of my family. My immediate family that is. My parents are OK with my idea to set up an account for them, in conjunction with their existing retirement accounts, that pays out interest only so they can live happyly in their retirement years. They are also OK with that plan for my brother, Shawn, as well after he graduates from high school.
I dont want to get into a position where I help one part of the family, but another part feels slighted by it. I cant help everyone, and Im not about to try. Id rather seem a little selfish and only help when someeone is worthy of it, rather than help when it was mostly their fault they got into the position their in now.
My dad, like myself, cant wrap his head around the idea of the size of the account. To be honest, neither can I. I can comprehend that BTC had a value in 2021 of $50,000 per unit at one time and is now down to roughly $41,800, a difference of $8,200. When you think of it that way, it isnt hard to comprehend a loss of $8,000. But in my account that is a difference of $82,000,000. Five years ago I never thought Id have $1M. I cant even fathum Ive lost that much in value over one year.
So we will see how this continues to play out.
A Little Bit of This and That 