A couple weeks ago, I told you about my new years resolution to Become My Own Bank (BYOB) in 2021. This week I took the first stab at what a self sovereign BYOB crypto bank might look like.
You can see the first draft of The BYOB Playbook below. It's pretty dense, but I plan to chip away at each topic, consult expert feedback, implement and share with you everything I learn along the way.
Your feedback from last week's chart and accompanying video was epic. I'll definitely do more as this bull run continues. This week we were blindsided by our first dip! Did you use our limit order strategy to scoop up some cheap bitcoins? I know a few people in our group chat did.
There were three 30-40% dips like this during the 2017 bull run (see here), so don't let the volatility shake you into selling. Price seems to be recovering fast but anything could happen - dips can reverse fast or last for weeks.
Reply with any crypto questions or feedback you've got - it's been awesome hearing from you guys.
To the moon 🚀 — @GΞR฿Z Founder & Creator @ BitLift
The BYOB Playbook (1st Draft)
A public and private account structure separated by unique passphrases and methods for privately and securely transferring funds between them.
Redundant bridges to the legacy financial system including the best crypto banks for converting fiat and highest rewarding crypto debit cards for spending.
A map of all accounts and step-by-step operating procedures for every transaction and investment made.
An investment thesis and financial plan including for growth investing via crypto equity investments, large/small cap allocations and fixed income investing via lending, staking and contributing to liquidity pools.
Tools for monitoring investments day to day, tracking transactions for taxes and reporting, charting, price notifications and a calendar of events to stay on track.
Tweet of the Week
In case you've been living under a rock, @jack is the founder/CEO of Twitter. His Twitter bio says it all. Jack also happens to be the founder/CEO of Square, a public company who recently invested $50m of it's treasury in bitcoin and their Cash App is a great place to buy/sell small amounts of bitcoin.