Bitcoin is simulation money
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Jake Woodhouse
jakewoodhouse@primal.net
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Helping Australian small businesses start with AI. I assess 5-10 weekly and share insights. Host of The Jake Woodhouse Podcast.
Started building something new
Early days
But it’s exciting
More of a pivot than totally new
😜
Another thing the Q1 bear is hammering home
I need to create a higher yield on my time
Cashflow from that is a natural defence from Bitcoin volatility
OpenAI and US Gov doing a deal to spy on people
No surprises there
One upgrade for my future that I will make sure is true
Next time I won’t be forced to sell at the dip
The last six weeks have exposed many areas of my life that I didn’t realise needed work:
• liquidity discipline was thin
• volatility leaked into home life
• operating capital and investment capital were blurred
• ego was still attached to prior highs
That’s tuition fee’s. Expensive tuition fee’s. But tuition fee’s that will pay in the long run.
Financial capital balance: DOWN
Intellectual capital balance: UP
My father handed me capital.
Life handed me volatility.
The market handed me humility.
That combination is not a curse.
It’s apprenticeship.
Painful, yes.
But real.
Biggest lesson of this bear market:
When using Bitcoin as your primary means of value storage, the volatility to the downside is a risk to never forget, so if you’re ever considering large capex opportunities, such as a renovation, if, and only if, you feel wealthy enough in that moment of decision, you proceed, and you take all the money off the table to ringfence for the project, and manage a predictable cash flow
I didn’t so this… I wish I had
I know a guy running a TG group with technical analysis market commentary
Talk in through “strategy”, good time to buy or sell
Nowhere have they mentioned selling any Bitcoin
But behind the scenes they’ve taken 65% off the table at strategic points on the way down
Each to their own of course
But be careful out their friends
This week, I spoke with David Parkinson, an entrepreneur deep in the Bitcoin journey, turning his passion into a reality. No-one said this was easy, but it sure is interesting! Musqet is a very exciting business, and an example of where I see things going long-term, with practical implementations of Bitcoin in the real world. In particular keep an ear out for his experience fundraising, an area I have more and more interest in.
**Timestamps:**
**0:00** Introducing David and Musket
**0:29** Musket Bitcoin Payment Demo
**2:56** Explaining How Musket Facilitates Bitcoin Payments
**5:44** Defining a Bearer Asset
**10:35** The Intersection of AI, Bitcoin, and Energy
**15:34** David's Origin Story with Bitcoin
**22:37** Adoption of Bitcoin Payments
**32:51** Musket as a Trojan Horse for Bitcoin Adoption
**41:51** Bitcoin Is Inevitable
**47:10** Advice for Aspiring Entrepreneurs
Thank you
Best,
Jake
The same technical analysts that had a chart saying 180k was inevitable
Are now, mhaving said we were in a bull market a few weeks back, are pointing at charts saying it’s going to 40k
More and more I think of it as pointless noise