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INSIGHTS FROM AN OLYMPIAN BY JOHNNY QUINN | @JOHNNYQUINNUSA

Archive for the ‘Finance’ Category

How Much Bitcoin is Enough? Putting 21 Million in Perspective

Thursday, December 19th, 2024

Bitcoin’s fixed maximum supply of 21 million coins is often touted as one of its most defining characteristics and for good reason—it’s an unmatched feature in a world of endless money printing and inflation. But how much Bitcoin is enough? That question is deeply personal, depending on your lifestyle, risk tolerance and future financial goals. Whether you aim for 1 Bitcoin, 0.1 Bitcoin, or even just a few Satoshis, the fact remains: Bitcoin is extraordinarily scarce. With a supply cap so small, owning even a fraction could hold significant value in the future. To truly grasp how limited 21 million is, let’s put it into perspective by comparing it to some everyday global metrics. If you haven’t secured your share of this finite resource yet, now may be the time to consider it. Read Where My Family Buys Bitcoin: Our Go-To Platform and Why 1. Global Millionaires There are approximately 59.4 million millionaires worldwide. If Bitcoin’s supply of 21 million coins were distributed equally among all millionaires, each would receive just 0.353 Bitcoin. Here’s the math: Total Bitcoin Supply: 21,000,000 Number of Millionaires: 59,400,000 Bitcoin per Millionaire: 21,000,000 / 59,400,000 = 0.353535354 (Credit Suisse Global Wealth Report) 2. Global Population The world population is around 8.15 billion people. If Bitcoin’s 21 million coins were distributed equally among everyone, each person would receive approximately 0.00258 Bitcoin. Here’s the math: Total Bitcoin Supply: 21,000,000 World Population: 8,150,000,000 Bitcoin per Person: 21,000,000 / 8,150,000,000 = 0.00257668712 (Country Meters) 3. Ounces of Gold The estimated total above-ground gold supply is approximately 212,582 tonnes. Given that 1 tonne equals approximately 32,150.7 troy ounces, this equates to about 6.83 billion ounces of gold. That’s around 325 times more ounces of gold than Bitcoin’s max supply. Here’s the math: Total Gold Supply: 212,582 tonnes x 32,150.7 ounces/tonne…

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Why My Family Buys Bitcoin Every Day

Sunday, December 8th, 2024

In our household, Bitcoin is more than just an investment—it’s a savings technology. After a hundred plus of hours of research—reading books, listening to podcasts, and watching interviews— I concluded that Bitcoin is the apex predator of financial systems. I believe all capital will eventually flow through the Bitcoin network, not by wishful thinking but by the superior monetary properties of Bitcoin. Watch this three-minute video on Why Does Bitcoin Have Value? Understanding the Problem Bitcoin Solves When I first started this journey, I didn’t have a financial background or education in finance. To fully appreciate Bitcoin, I had to educate myself about money—what it is, how it works and its history. Here are the resources that helped me the most: How Money and Banking Work (and Why They’re Broken) Lyn Alden’s explanation of the flaws in our current monetary system was a game-changer for me. Watch the video here. Government Confiscation of Gold in 1933 I learned about Executive Order 6102, issued by President Roosevelt in 1933, which allowed the U.S. government to confiscate the public’s gold. This history is critical to understanding the vulnerabilities of traditional monetary systems. Read more here. The Bretton Woods Conference in 1944 The Bretton Woods Conference of 1944 was a pivotal moment in global finance. Delegates from 44 nations agreed on a series of new monetary rules following World War II. Understanding this event gave me insight into the birth of the IMF and the World Bank. Read more here. The Gold Standard’s Collapse in 1971 In 1971, President Nixon took the U.S. off the gold standard, fundamentally reshaping the global financial system. Learning this history clarified why Bitcoin’s fixed supply is so significant. Read more here. What Makes a Good Monetary Asset? Vijay Boyapati’s The Bullish Case for Bitcoin is an excellent,…

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Where My Family Buys Bitcoin: Our Go-To Platform and Why

Saturday, February 6th, 2021

Over the years, my family has purchased Bitcoin on several exchanges and we’ve learned that two features are absolutely critical to us: low fees and ease of use. Why Fees and Ease Matter Since we use a dollar-cost averaging (DCA) strategy to build our family’s Bitcoin position, we want the lowest fees possible. Over time, even small fee differences can significantly impact your returns. We also prioritize a user-friendly experience, especially with the ability to automate our Bitcoin purchases. A clear dashboard and intuitive tools save time and reduce frustration, making it easier to stay consistent with our investment plan. Our Recommendation: River Financial The best way we’ve found to accumulate Bitcoin through automatic recurring buys is River Financial. Use this link to create an account on River Financial and we can both earn up to $100. Here’s why we recommend River Financial: Automatic Recurring Buys River makes it simple to set up daily, weekly, or monthly automatic Bitcoin purchases. This feature is crucial because timing the market is incredibly difficult. Emotional decisions often lead to buying when prices are high (greed) and selling when prices are low (fear). With a daily recurring buy, my family steadily grows our Bitcoin position without the stress of market timing. Dollar-cost averaging smooths out price volatility over time, helping you build your Bitcoin stack more consistently. Auto-Withdrawal to a Secure Wallet One of the most important rules of Bitcoin investing is never leave your Bitcoin on an exchange. River Financial offers an auto-withdrawal feature that sends Bitcoin to your secure wallet automatically once you hit a preset threshold. This ensures your Bitcoin is safely stored in a wallet you control. Why River Financial Works for Us River Financial offers a seamless way to accumulate Bitcoin with low fees and top-notch automation tools. It’s…

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