DTHT Episode 12 – How To Leverage Bitcoin For Cash Flow And Mortgage Payments
Welcome to Do The Hard Thing Episode 12. I am Jason Archer… creator, freedom seeker and leader of self | full time student and part time teacher of self mastery, and today’s theme is “How To Leverage Bitcoin For Cash Flow And Mortgage Payments”.
I know that’s a huge claim… So, turn up the volume, put down the distractions and let’s kick this off…
[NOTE: Insert some intro music here | Insert brief description here]Summary Description:
Have you ever started down a path that you felt held a great deal of meaning for you, and then for whatever reason you could not move toward the outcome you wanted to create. Whether it was a Mental, Physical, or Spiritual target you sought, it didn’t matter… there was some part of you who refused to move. This podcast is born out of that specific idea. Do The Hard Thing is an exploration in human movement.
In the last 2 episode of Do The Hard Thing, I talked about Money and then spoke about responsibility. And, today I am going to combine those two ideas into one method I’m using to generate cash flow from the the crypto currency market using several services.
I want to preface this by telling you up front that I am not a financial advisor nor am I recommending that you do this. I am simply sharing with you what I am personally doing and what my results are at this point. The Crypto currency marketplace is highly volatile and I fully expect 95% of the also ran crypto coins that keep popping up seemingly everyday to be gone in less than a few years.
I have lots of reasons to believe this to be the case, but in the interest of time I will simply give you the relevant information I can regarding the system I’m using so that you can investigate and do your own due diligence to decide if a crypto currency speculation is right for you.
Notice, I said speculation… not investment. There is a difference between those two ideas primarily around how you can exit the trade or receive funds from the trade.
Only you know your financial situation and this market is very risky… so I don’t recommend this strategy because the nature of most people in the modern world is to operate from “I’m not responsible”… for more on that, just listen to episode 11. However, you are responsible for all you do. And, if you invest in a highly volatile market and you lose your hat, shirt, and overcoat as my grandfather would say. It is entirely your fault. You chose into the game, you chose to be subject to the rules of the game.
OK, that said… hopefully, I have sufficiently repelled all the irresponsible, free shit mentality people who might be listening… I’m sure there is a Bernie Sanders podcast awaiting you out there on the interwebs. I wish you well, but this is not for you.
For the rest of you guys, let’s jump into this.
Now, I have no intention of claiming to be an expert on the underlying technologies that run any of the blockchains… whether are a fan of bitcoin, ethereum, ripple, dash, monero, litecoin, or any of the rest based on their technical presence is irrelevant to this discussion.
The reason being is I want to focus on cash flow.
Lots of people want to be better off financially, and few people want to Do The Hard Thing and move themselves to understand how money works and how they can multiply their assets in a way that provides stability and freedom.
And, this is a good thing. You should want to be wealthy. You should not hate on people who have made or are making more money that you have seen in your lifetime. Making money is a skill. And, unfortunately its the one skill that is taxed for the purposes of giving the gains of one individual to another individual who is “less fortunate”. There are many skills that require energy and effort as well as a great deal of failure to acquire which are not held in the same light.
The “smart girl” in your chemistry class who gets straight A’s, has put in more reps than you at solving chemical formulas and understanding the basics of the Bohr model. Yet, she is not forced to give you 30% of her points because you chose to drink beer and play quarters in your dorm room with porn playing in the background.
That would be considered unfair, yet we do this type of thing with money and don’t think twice about it. My business partner recently told me that her mother said this during a recent conversation, “Well, the rich just keep getting richer.” And, there is some truth to that. But the smart generally keep getting smarter… It just comes down to where you invest your time. If you learn about money you may never be Warren Buffet, yet you may just get a few rental properties and live a cash flow lifestyle where you own your days.
This is my desire.
Cash flow. Cash is not king… Cash flow is king. And the more cash is flowing your way the freer you are in this life. Cash flow buys you options and allows you to be more of who you are. And, today’s strategy is all about creating cash flow using Bitcoin.
So, I’m going to introduce 2 services to you to pull this off: Coinbase and BitConnect. And using the BitConnect platform, we are going to loan the cash value of our BitCoin to BitConnect’s trading robot which uses the movement in BitCoin Price to generate profit which is then paid out. A portion of which is paid out to you on average at the rate of about 1% a day currently.
Here’s how it works:
- You need to buy some Bitcoin. Not to hold and hope it goes up in price… but because you’ll need it for the next step in the chain.
- You’ll transfer your Bitcoin to BitConnect.
- Once you’re Bitcoin is in your BitConnect Wallet or account, you’ll then use it to buy BitConnect Coin… Their proprietary Coin.
- Once you’ve done that, you’ll lend the BCC to the BCC robot for a specified term.
- Daily, you’ll receive payouts in cash
- You can then take that cash, convert it back to BCC, convert that to BitCoin and sell the BitCoin for cash that you can deposit into your bank account and spend.
So let’s look at some numbers.
I personally have loaned about 7 thousand to the BitConnect Robot. So at an average of 1% paid out per day… it varies. So at this investment level, I should receive somewhere in the neighborhood of 70 dollars a day on average. This will pay my mortgage and all bills provided the company holds and is not regulated out of existence or a total scam.
Either of those thing can happen.
But let’s say you have only 1 thousand to invest… At 1% on average per day, that’s 10 bucks you got for doing nothing which will cover your morning coffee or your lunch and allow you to keep more of your earned cash in your pocket.
My mentor once told me that the definition of financial freedom is owning assets which pay you. And, when they pay you enough to support your lifestyle you are free. So if you break that down, and just look at your bills. Then each bill you no longer have to pay brings you one step closer to freedom.
As an example, 2 rental properties that I own pay me about 700 a month in cash flow after bills and before taxes, that 700 covers my electric bill, gas bill, water bill, car insurance, home insurance, and some groceries. Those 2 properties required an investment of 100k in cash and debt.
The strategy I just shared with you requires 95% less money for 300% more cash flow in my example using 7k.
And, this is where you have to really Do The Hard Thing… You have to gain control over your mind and all the fears it throws as roadblocks to your advancement. I personally started with 160 dollars just to test the water and have slowly added more funds over time. I won’t add any more ever until this is completely paid out and I have my money back.
Again, I don’t recommend that you do this. This is just an example of what I am doing…
No matter which path you choose in terms of wealth, base your decision on results and move accordingly. My wish for you is that you are successful beyond all your most extravagant dreams. Especially if you’re a good person. Money will make you more of what you are. And, even if you’re a rich asshole… who just loves to buy things and show off. Good! The things you buy and the services your use, keep people employed and their families provided for. And, there is nothing wrong with that.
That’s it for today! Thank you for listening, and if you found value in this message be sure to subscribe on iTunes, Google, Castbox, or Stitcher | Share this with those you know need to hear it on social | And I’ll see you back here in the next episode | This is Jason Archer signing off | Now… go, and DO THE HARD THING.
Listen at dothehardthing.net