Introduction: Kimberly, a self-proclaimed ambassador for Bitcoin, shares her Bitcoin journey on the Orange Hatter podcast.

Kimberly discusses the concept of 'paralysis by analysis' and draws parallels with choosing from a wide range of options in Bitcoin hot wallets and cold storages.

Kimberly shares her initial Bitcoin experience and the role of her friend in walking her through the various steps, from understanding the concept to investing in Bitcoin.

Understanding the importance of Bitcoin, Kimberly talks about how her conviction towards Bitcoin has grown over time, leading her to invest a significant portion of her savings.

Kimberly touches on the socio-economic factors influencing Bitcoin and how understanding the macroeconomic environment is critical to comprehending the market trends.

An advocate for Bitcoin adoption, Kimberly shares her concerns about possible hurdles from governmental agencies and emphasizes the need for quick and easy transition.

Kimberly highlights the importance of understanding Bitcoin before investing, as many who did not fully comprehend it suffered losses during the price drop.

Sharing her personal life, Kimberly talks about how she discusses Bitcoin with her family and how she guides her children about financial decisions, including investments in Bitcoin.

Kimberly concludes with a reflection on her background in financial planning, her current position in Bitcoin investments, and the need to reassess what diversification means.

In the next episode, Kimberly will continue sharing her Bitcoin journey, delving deeper into her understanding of Bitcoin and her plans for the future. Tune in tomorrow to hear the rest.

Resource:

Why 'A' Students Work for 'C' Students and 'B' Students Work for the Government: Rich Dad's Guide to Financial Education for Parents by Robert Kiyosaki

Please email questions/comments to Tali@OrangeHatter.com

Mentioned in this episode:

Free Market Kids Short

Get your HODL UP ("The best bitcoin game ever!") at www.freemarketkids.com.

Hi, everyone. Welcome to Orange Hatter.

Today, you will listen to part three of my conversation with Kimberly.

If you study social science, I think they compare a grocery store in Russia

to a grocery store in America. We walk into a grocery store, and there's not one kind of pasta. There are like 25 different kinds of pasta and then 10 more that are gluten-free. Whereas if you go to Russia, maybe you get one choice. The point is that sometimes the energy it takes for us to make a decision paralyzes us more, or it makes us it makes us more stressed.

Paralysis by analysis.

Paralysis by analysis. If I walk into a grocery store, there's one kind of pasta

I'll take it and put it in my cart. But now I stand in the eye. I'm like, OK, do I need to read all the labels? Do I trust all the labels? Should I go gluten-free? Should I go with the kids eating it if it's gluten-free? Should I go with brown rice, or should I go with quinoa? Do you know what I'm saying? So and it's like that with Bitcoin stuff like, oh, you have hot wallets. You have like 25 different hot wallets, and then you have one hot wallet that's coming out every six weeks. And then you got cold storage. But then you got all these different kinds of cold storage. Just so much information. So you have your friend. He walked you through all the steps, and you were putting the two things together, the Jekyll Island book and the Bitcoin. So now, like fast forward through that one year, how did getting involved with Bitcoin with some conviction change the way you live your everyday life, or did it at all?

Well, I would say it does or has because I've become, you know, an ambassador for Bitcoin. Right. Like, I mean, a self-proclaimed ambassador for Bitcoin. Whether Bitcoin wants me or not. Yeah. I mean, now it's like I talk about it all the time. I mean, I let people know that I'm invested. I'm constantly throwing it out there to see if I can find people that either

like, oh, yes, you know, they're interested, or they have, you know, I'm trying to find people that I can make some connection with indefinitely. Right. As my conviction has grown, my allocation to Bitcoin has grown. So a bigger percentage of my of our savings has gone into it. And I stack stats constantly now, like, you know, rearranging our budget. Right. So we can save more. And I've gone down that rabbit hole. I'm just I'm so curious about it. I want to learn so much about it. I'm so hopeful for it. I want to increase my education and my knowledge, and my understanding of it. I mean, you know, I'm constantly listening to a podcast or reading about it and not just about Bitcoin, but understanding the macroeconomic environment, too, because I come to understand now that that's probably more important than an individual company's financial statements. You know what I mean? Like, you can explain probably 98 percent of what happens in the market just by the macroeconomics going on. So between kind of this obsessive desire

to understand more about the macro side of things and then also Bitcoin and then how it's going to fit into it, it's changed me a lot. It really has because I feel like I've kind of got something, a cause that I'm fighting for. Cory Klippsten from Swan Bitcoin, says we're in a race and hopefully we can we can get that adoption before we have a war. Right. Because we don't want, you know, the U.S. government is probably the only agency that is big enough and powerful enough to make access to Bitcoin difficult. I don't think they can stop it, but they can certainly slow it down. I feel like we are in a race to help people understand it, know about it, and know what it means

so that we don't have to we can transition quicker and easier. We don't have to fight the causes that don't want it to happen. And I think there's a lot that don't want it to happen.

Yeah. I mean, we're threatening the status quo. So, yeah, I can't I can't see them lying down and rolling over, go, yeah, sure, you guys go do Bitcoin stuff. I can't see them doing that. Yeah, definitely that race. But also, I don't know about your experience; my personal experience when

I talk about Bitcoin to people in general is if I raise the issue, they don't want to hear it. Their guards are up. It's like when you tell your kids to go take a shower, they don't want to, but they got to want to go take a shower themselves. And then you don't even have to say anything kind of

thing or, you know, same thing like they were about to go take out the garbage. But if you say go take out the garbage, they're going to be like, I'm not going to do that right now. You know, kind of like that.

Yeah. People have to be ready. Yeah. Right. To be ready. And that's why I guess I keep lobbying it out there, right, ust seeing who will want to go farther with it. Because little by little, as I talk to people, eventually I find, you know, I start to find some people who want to go a little deeper. And I think so many people have been burned. Right. Because of what the whole

industry has been through; because there has been that conflict between Bitcoin and cryptocurrencies-the rest of them like FTX, Luna and Celsius. And,

If you truly understand what Bitcoin is, aside from the fact that it is a money substitute, you understand that it is a protocol. It takes a little bit of time. But when the price started dropping Scott and I were like, oh, my gosh, Bitcoin is on sale. You know, we're so excited. We're like, what else can

we sell? What else can we sell to generate some cash so that we can take advantage of it when it's on sale? So we were celebrating. But a lot of other people were like, oh, my investment's going down. But we believe in the entire structure around Bitcoin. We believe in the ecosystem and

all the people who are involved. And so as the price was going down, we're like, yes, more, more. Eventually, of course, we would like for it to go back up.

But that's where it's bad if people haven't managed their risk well or their liquidity well. If they had [invested] money that they need and they bought [Bitcoin] at the high, they they don't have time to ride it out. and they have to liquidate. And that's what caused it to keep going down, down, down. There are probably a lot of people in it that don't really even understand it. Right. They don't even understand why they're in there, to begin with.

Yeah, exactly. Exactly. So you're studying all the time, listening to podcasts, and you're reading books, are you able to talk to your very close, like the people in your closest social circle, your family, your close friends about Bitcoin openly? Or is that something that you have to kind of tread carefully?

No, I'm really fortunate. My husband and I are completely in sync. You know, I lead the way on that just because probably my background. I'll just kind of feed him information as I go and he listens and absorbs and thinks about it. But we're in sync, so that's good. My kids are, you know, they're coming of age and coming along. And, you know, I've got my oldest saving in Bitcoin now. You know, it's interesting because I had her do the Dave Ramsey financial peace course. We really need to get him [Dave Rampsey] to understand, take the time to understand Bitcoin. So because she came out of that ready to save. And I'm like, where do I tell her to put her money? Because right now, the only thing I feel is valuable and worth putting your money in is Bitcoin. He [Dave Rampsey] doesn't address it. I hope that he takes the time

to research it.

Yeah, I did the same thing with my kids. We did the financial peace curriculum with them. And so I know that at least when we studied it, he was very against people buying real estate properties and renting them out because he says most people don't understand what they're doing and lose a lot of money. So at one point, I think in his book, he said, if you have a rental property, sell it right away. I don't know if you remember that part, but you know, Rich Dad Poor Dad, we taught that to our kids as well. The cash flow for kids, we used to play with them once a month.

Oh, wow.

Yeah. We would say, if you get out of the rat race, here's a bowl of jelly beans. You can go have your jelly beans. And so we would play Rich Dad Poor Dad. And when they were graduating high school, one of the required books that I made them read was a Robert Kiyosaki's book called Why A Students Work for C Students and B Students Work for the Government.

Oh, I haven't read it.

Yeah. That's a great book for you to have your kids read. It's thick, but it goes fast. And so I think because of that influence, my kids think when they want to safeguard the value of their savings, it means real estate because, you know, Robert Kiyosaki is a real estate person. And he talks about that extensively. Um, Dave Ramsey doesn't. So my kids are saying if you spread out the risk, from their young people's point of view, if you spread the risk, you shouldn't put all your eggs in one basket. You should put it in

at least two more baskets. And in their mind, that means rental properties and possibly Bitcoin. I don't know. One of of kids is convinced the other three are sitting on the fence right now. How do you address that with your kids from a financial planner's point of view?

I guess I'm still trying to figure that out, right? Because I've only got one, my old one right now, that is ready or in a position, and she's still in college. So she only has a little bit of money to put aside. So I'm just trying to get her started on having some money just into the, in the habit, of putting her 10% aside every little paycheck. As you first get going, you don't really have enough to diversify with anyways. Right. So it's not really, it's not something I've approached yet. At some point I will need to have that answer because again, with my financial planning background, I've, I'm not diversified right now. I'm way over allocated in Bitcoin, but I think I have to reassess what diversification means too.

Thank you for joining us today. We will continue this conversation tomorrow.

Be sure to come back and hear the rest. See you next time.