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From Brain Eating Mold, To Crypto Proving Assets > Income

Decentralization of wealth + health + Assets > Income

Ah Contrarians, we got a good month for you. This is the free newsletter, premium click here for our monthly playbooks and FB community. 😳

What Do You Have if You LOSE YOUR HEALTH?

A lesson on: Decentralization of wealth + health + Assets > Income

Have you heard of my bud Mike Dillard? Well…

He is a reigning name in the world of the internet. He has built multiple 6, 7, 8 figure businesses. He’s going to blush when I call him a genius but I think it’s true, his mind just spins differently. Which is why I always ping him on everything from how to scale an e-commerce business, to a mastermind, to a podcast, to media business, and beyond.

But Mike has a cautionary tale. He was at the height of his game. His businesses were doing multiple millions in revenue, his podcast had hundreds of thousands in downloads and then he started slowly but increasingly not feeling very well.

He shuffled from doctor to doctor trying to figure out where his energy, his mental capacity, his vigor had gone. No one could tell him what had happened? No one could figure out how this guy with formerly limitless energy now was struggling through workouts.

In his words:

“On June 12th, 2018 I was on top of the world and living the dream.
24 hours later on the 13th, I felt a little “click” in my brain while playing a game of PUBG. That was the last time I could naturally fall asleep for over a year.
After 6 days and nights without a single minute of sleep, my body started to shut down.
Doctor after doctor couldn’t figure out what was wrong.
My brain started to deteriorate. I couldn’t sleep. I couldn’t think, and the medications I was given made me suicidal.
I had to walk away from my business, my friends, and everything I used to do in life as I could barely function or leave my house for almost a year.”

After dozens of blood and DNA tests, months of providers prodding, he figured out that toxic mold had gotten into his brain.

Essentially according to Mike what that means is:

“Mold’s job in nature is to eat, break down, and recycle organic substances as is often seen in food like this orange…

Well in my case, the mold had gotten into my brain and was chowing down on my brain’s myelin.
This put my brain and body into a constant state of fight-or-flight, making it impossible to fall asleep, and dumping massive amounts of cortisol and adrenaline into my system 24/7.

Long story short, his brain was being eaten alive by mold. Horrifying. And oddly, not that rare. In fact, 25% of the population has a genetic predisposition to suffer from toxic mold and 70% of homes are estimated to have some sort of mold.

*Looks around the new house I just overpaid for in Austin like…

Pixar Look Out GIFs - Get the best GIF on GIPHY

That said, it got me thinking… Mike couldn’t really work for YEARS. If Mike had had a normal job that came with a trading time for money mentality he would have been screwed. Then I started thinking, well how many humans at some point get incapacitated from work?

60% of American adults now live with one chronic illness
42% have more than one chronic illness
1-4 Americans at some point in their life will have a disability (That’s 61 MILLION PEOPLE)
More than 1-4 of of today’s 20-year-olds can expect to be out of work for at least a year because of a disabling condition before they reach retirement

Ok, those are scary numbers.

Then pair that with our abysmal savings rate and you’ll really have a jolly good time.

65% of households lack a mere six weeks of take-home pay on hand.
Another found that 37% of respondents would be unable to cover more than a month of normal spending.

Yet, when I met with Mike - despite not being able to work for months if not years he was crushing it. I not so appropriately asked…

What’s the secret bud?

His answer? Assets.

Namely cryptocurrency.

He’s made multiple 7 figures from investing in bitcoin and alt coins, again and again.

While I AM FAR from an expert in the space I’ll tell you what Mike taught me and give you some questions to contemplate after all:

As the saying goes, “what got us all here, may not get you there.”

My Progression on Crypto:

This is a scam
This is confusing
This is actually hard to buy and the fees are RIDICULOUS
I’d rather invest in the platforms than the coin
Wait a second the FED IS BURNING DOWN THE HOUSE, maybe I’ll buy more crypto.

Thennnnn I wrote a whole article about how this ship was gonna burn soon. #sorrynotsorry

I LOVE the long term trend, I hate speculation it always burns the little guy.

But this week since this baby halved and everyone from not so Teflon Elon to Munger ain’t got no bitcoin hunger hates the BTC, it’s the perfect time to talk about it.

Lessons from the Rational Non-Euphoric Dillard:

In summary: First, you dabble in Bitcoin on Coinbase, then you go to Gemini, then you learn about Staking, then you get into second-tier coins, then you figure out wallets, then you go down a deep dark rabbit hole.

Five thoughts on the old BTC, ya you know me.

1 - The average investor who lost money in this BTC cycle?

Those who held $10-100k. Aka retail investors. Aka me, you, Chad, Nance.

Those who get emotional, typically lose.

Mike’s recommendation… if you’re a beginner, weight your portfolio on 100 % bitcoin. Slightly more advanced? 50% Bitcoin, 50% Ethereum. Leave altcoins for money to play with. And never invest in sh*t like Dodge… it’s only funny and memey when you’re up.

Investor Psychology Illustrated: Where Are We in the Cycle? ~ market folly

2 - The hardest thing is to know when to sell, and actually selling.

It’s really all just a guess. But an interesting rule of thumb from Mike, is to follow the indicators of Colin Talks: https://colintalkscrypto.com/cbbi/. When 3-4 of these confidence indicators hit 70-90%, it’s likely Bitcoin is at a peak. Start thinking about your plan for exit and re-entering at a downturn.

3 - Security should be one of your TOP concerns.

Keeping your assets safe, not a given.

Mike himself was actually the victim of an exchange scam back during its first bull run spike. He lost 100’s of thousands in assets when the exchange shut down and ran away with his crypto (worth millions today). No bueno.

The TLDR - get it off the retail exchanges if you’re holding for long term AND you’re not going to trade it.

1,557 Bitcoins being pulled off exchanges a day, or ~$88m at today’s prices.
There are only 900 Bitcoins that can be mined a day after the supply halving in May of last year, or ~$51m at today’s prices.

We broke down his intense security plan in its entirety in the Contrarian Cashflow Playbook this month. He also dropped a gift for the Cashflow community if you were interested in learning more from his crypto course.

4 - Own your tracking.

You can track cost basis on apps etc but most have flaws. We like to track it in private spreadsheets with dynamic pricing included, here’s our spreadsheet below. Because money runs away from those who don’t track it.

And are you even an investor if you don’t have red and green excel graphs glaring at you?

5 - What is Old Is New Again, Except It’s Not

I see a lot of charts like this in bitcoin. In fact, POMP wrote an article with this doozy of a sentence, “Due to the open-source transparent nature of the Bitcoin blockchain, investors can analyze the capital flows of the market in ways that are not possible in traditional financial markets.” In English - I see the future, thanks.

Here’s the thing, this type of charting is not magic, it’s called Point and Figure (P&F).

And sorry kiddos, while BTC may be new, Charting is over 100 years old.

It’s even older than the BTC haters Buffett and Munger.

It’s so old they used to draw the charts... with pencils.

So basically take everything we’re talking about with a giant grain of salt.

Knowledge is power, but only as powerful as your ability to question it.

_____

Long story short. Whether it’s crypto, real estate, businesses, etc, make sure you optimize for assets, not just income.

Income requires your time.

Assets don’t.

So we like big ass-ets.

Question everything…

From Brain Eating Mold, to Cryptro Proving Assets > Income

From Brain Eating Mold, To Crypto Proving Assets > Income

Decentralization of wealth + health + Assets > Income

What Do You Have if You LOSE YOUR HEALTH?

Ok, those are scary numbers.

Then pair that with our abysmal savings rate and you’ll really have a jolly good time.

Yet, when I met with Mike - despite not being able to work for months if not years he was crushing it. I not so appropriately asked…

What’s the secret bud?

My Progression on Crypto:

Lessons from the Rational Non-Euphoric Dillard:

1 - The average investor who lost money in this BTC cycle?

2 - The hardest thing is to know when to sell, and actually selling.

3 - Security should be one of your TOP concerns.

4 - Own your tracking.

5 - What is Old Is New Again, Except It’s Not

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