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In this episode of bitcoin magazineMeet The Taco Plebs,” sat down with active Twitter and Clubhouse Bitcoin pleb Mike Hobart (hetheemikehobart on Twitter), to discuss his journey in the Bitcoin rabbit hole, how Bitcoin has affected him since he discovered it and the role Bitcoin plays in the current macroeconomic environment.
Hobart explained his unique process of fully diving into a rabbit hole after military deployment and the beneficial impact that bitcoin had on his life, as well as the potential for bitcoin to create human civilization.
Finally, we discussed the inevitability of Bitcoin taking up a significant portion of the global bond market and the ultimate monetary value of the Bitcoin explosion.
Here are some of the thoughts Hobart shared during the interview. Be sure to check out the full episode for more.
What is the story of the Bitcoin rabbit-hole?
The very The first time I heard about Bitcoin was many years ago, I had heard rumors of players in Runescape raising energy levels and selling it for bitcoins. I had no idea what it was like at the time and had no understanding (and therefore no value) of money or investments – I just wanted to chase girls and party.
I didn’t participate until many years later. As I was getting ready to finish my spring semester of college, (which I’ve been super focused on while preparing to spread to the Middle East), I saw a news headline saying that Bitcoin had broken $1,000. It was at this time that I accidentally realized that successful, wealthy and powerful people do not Just Work for a salary – They have their money (aka capital) working for them to earn a return while chasing income and opportunity at the same time. Therefore, I told myself that I would be watching it as a desirable investment vehicle for the publishing income that I would soon generate.
About three months later I was getting ready to head to Fort Hood and saw that Bitcoin had quadrupled to $4,000 already! I told myself I should pull the trigger and put something in it. From that point on, I went down every rabbit hole – I created a Twitter account just to get Bitcoin info because I realized pretty quickly that Twitter was a mecca for BTC veterans. And the Relevancy with new BTC information and new updates as they happen. I’ve been following people like Lynn Alden, Preston Beach, Bomb and Marty very Early on, I was risking money on cryptocurrencies and everything.
I was losing money on altcoins at a fast pace, but I was learning faster. I’ve been researching the history of Bitcoin, looking forward to understanding How It worked, what was the problem with the Byzantine generals, etc. But I was also reading on technical analysis (I read “Technical Analysis of Financial Markets”), economics, what is diversified portfolio theory etc. And to paint a true picture of how motivated I am, all this was done القيام While I was doing my military duties overseas, lol. I would study on the job, go to the lift for three hours a day, and then every night I would read and listen to podcasts for two to four hours before I went to bed.
How has Bitcoin changed your life?
Bitcoin changed my life because throughout the process of working to understand what it really is [it] You have come to develop a wealth of knowledge in finance, what is money and a better understanding of group thinking and market psychology.
Besides, Bitcoin changed my life in a more intimate way. When I got home from the spread, I ended up rushing to see my friends the next day to land on Ewan land. When I went to a bar with my friends, had two or three hard drinks at the bar, I passed out and ended up with a DUI. At this point, I had fully used Bitcoin, and had to liquidate my holdings to deal with the costs involved.
distance Which was January 2019 and bitcoin has been grinding around $3000 for some time… at this point I had nothing financially left. I sat down with my mom (who is my mentor in just about everything, who’s also in the bitcoin business now, btw) and told her, “I I know, deep in my soul, if I don’t get what I can do now and stick to it… I’ll regret it for the rest of my life.”
Now that I’ve made that small amount of money over 10 times over, it allows for an incomprehensible level of peace of mind.
As a member of the middle class, and being a millennial who has bought into the student loan debt trap, knowing I have this asset to keep my savings in has growth potential that rivals the likes of Amazon, Apple, Google….Bitcoin has changed everything for me.
What is the most amazing thing about Bitcoin to you?
The most amazing thing about Bitcoin is that it cannot be forcibly removed. If you are a nursery, the Which An individual/entity in the world can put pressure on you to give up your money – if you hold on and resist… there No A way for them to get what they want without you. who – which he is The most revolutionary Which Existing cash asset:
I. Dollars can be removed
Second. Money can be digging
Third. Safes can be broken into
Fourthly. can take gold أخذ
v. Bitcoin can’t
What are you most looking forward to in the bitcoin space?
This is actually kind of a crossover with the previous question for me. I am very excited about the future that Bitcoin makes possible. This is actually what prompted me to write the article which was my first job with you guys Bitcoin MagazineWhich I cannot appreciate enough. Shout out to Will Clemente III to get me with you, Tyler.
But what makes Bitcoin possible is a complete paradigm shift for human civilization. Can resist forced seizure And the It provides power generation a means of generating income enjoyed by the human race never experienced before. By generating income and competing with the free market for power generation, you reduce costs. As more around the world understand Bitcoin and the mining process, the competition for cheap energy sources and the most efficient use of that energy… then things get very exciting.
For those who do not understand basic economics, the cost of a good is determined by the amount of energy and effort involved in producing the good And the Acquisition of materials used in the production of the commodity. If the cost of energy goes UnderThen the cost of everything else drops. And as a civilization becomes better able to capture and use energy, that civilization gains momentum to “upgrade”.
Price forecasts for the end of 2021 and the end of 2030?
Uhhhhh… I’m not big on trying to make hard predictions because I don’t like the amount of people who would rather be lazy and tie their wagon to someone else’s thoughts without doing the work themselves.
But…I have a graph, I doubt how accurate it is going forward…but it’s been accurate for about years…say about $350,000 for the top in the winter of 2021.
For 2030, I bet we’re taking a big chunk of the bond market and working towards the multi-million price point that Greg Voss talked about.