Your Parents Used Property to Build Wealth and Help You - Bitcoin Is How You Do the SAME for Your Kids (Invest, Wealth, Bitcoin)

0:00Most people after spending a bit of time with me eventually figure out that I wake up every day and lift weights at 5am. And this is not me bragging about how energetic I am or anything like that. This is just the bedrock of my daily routine and people kind of work it out. The discipline of doing that and lifting weights is what taught me a ton about Bitcoin. Welcome to Should I Invest in Bitcoin, making Bitcoin simple for millennials serious about growing their wealth? Whether you're on the fence about it or just starting your Bitcoin journey so you could secure your financial future, even in a system where working hard never seems to be enough. I'm Miles Dillham, let's get into it for this week. This episode isn't really about fitness, it's about why most people struggle to build real wealth even when they earn a well because the traits that build strength in the gym are the exact same traits that build capital over time. And lifting weights taught me three principles that completely reshaped how I think about Bitcoin and money. The first is delay gratification,

1:01compounding and the third is responsibility. And in this episode I'm going to unpack how those three things connect and if you listen all the way through you'll understand why discipline matters more than income and why consistency beats hype. And why Bitcoin isn't really about getting rich, it's about growing up. And honestly you might even feel inspired to lift a little heavier tomorrow morning. This first part I like to talk about delayed gratification. Now the gym teaches you something most people never learn and it's that you don't get stronger immediately, you get stronger later. And often here people say I just can't put muscle on, I never gain muscle, it's difficult for me to put weight on. Yes I understand that, there are lots of people who maybe physically and genetically find it difficult to gain weight and to gain strength but I really believe that most of the time these people have only trained for like six months or nine months or a year. That's not long enough to really build a strong body. Similarly it's not long enough to build a strong wealth portfolio of assets that are valuable that grow over time.

2:05You can quit early if you want but you'll never find out the real benefits of betting in and doing something long term and being disciplined. And for me I went in and out of different fitness hype so I was quite into weightlifting in my teenage years and early 20s and I got fairly strong, you know I was okay, I was just an average weightlifter but I never really hit into it super hard and understood what it meant to build muscle over many years and to build strength over many years. I got quite into boxing and I got into marathon running and then I got into calisthenics and but you're just training with your body weight doing chin ups and press ups and dips and that kind of stuff and ring movements and then it was only when I hit about 30 that I realized right what am I actually going to do and how do I actually want to be as a fit man going into the rest of my life and I decided after listening and learning and researching that weightlifting was actually the most beneficial thing that I could do for myself and the longevity of my life and my ability to be able to be around my kids and potentially my grandkids I think about a lot now I want to be able to

3:08throw my grandkids in the air I want to be able to sprint around with my grandkids and I realized that weight training was one of the things that I would incorporate constantly consistently into my life and for me I had small children at that time there was a lot of space to be able to go to the gym and have an hour to do stuff by yourself so I started waking up at 5am and hitting the gym it's dark there's no dopamine hit there's no one saying well done there's no visible change for weeks even months and I really know now that strength is built in private and the reward is delayed and most people quit before compounding even begins because they want the evidence too quickly it's the same with investing it's the same with Bitcoin people who have bought Bitcoin recently will be saying oh man it's not a good investment I'm not seeing any returns I saw someone on the internet saying how is your Bitcoin investment going for you and I said going great actually over the last eight years fantastic investment over the last eight years and they're like oh what about last year is totally flat you haven't made any gains in the last year like well no I haven't really made any strength gains in the last year either but this last year I've been

4:09lifting weights in a sort of medium way because I've been traveling quite a lot I'm just trying to keep my strength at the same level right now and I know that once I get back into a routine where we're living in one place and we're not traveling around the world I'll be able to hit some massive strength gains because I've been maintaining and giving my body this stimulus that allows me to then push it to another level in a few months time potentially it's the same with Bitcoin I'm putting money into Bitcoin I'm not seeing any gains right now but I know that if I bed in it's going to grow and right now it's kind of boring and just want to add this in in terms of delay gratification I remember when I started doing CrossFit actually don't really train CrossFit as much anymore but I was combining some CrossFit with some regular strength training and I was feeling like quite strong dude anyway I'm a fairly good lifter now I've been consistently lifting weights for about eight or ten years without much gap or break when I started going to CrossFit we started doing overhead squats and sort of a lot of overhead lifts that you'll see in CrossFit like push pressing and clean and jerk clean and press those kind of things I asked the coach dude so

5:13how long till I get to this kind of weight which was I was just looking at some of the professionals and thinking I wonder if I'll ever be able to lift that weight not compete with those guys but just lift the weights that they do maybe not at the same intensity but at least get it above my head he was like oh man maybe like five to seven years of consistent weightlifting and I was thinking what five to seven years that is hardcore commitment and he said yeah but it takes that long to be able to slowly build muscle on muscle on muscle on muscle and get your joints and your ligaments used to that kind of stress and that load I thought flip that is intense that is delay gratification and for me weightlifting in this way has has prepared my mind for a low time preference to do longer compounding and understand that it's not going to happen tomorrow and if you quit now in weightlifting or in Bitcoin you're not going to see the gains that you might see in the next four five six seven eight years and that is not popular in today's society it's not popular to say yeah start hitting the gym and you might see some gains over the next year or two or three years

6:17but if you want to see real strength or real wealth built it takes a long time this next section I like to talk about emotional control in relation to volatility in Bitcoin and probably need to do with weightlifting it's it's emotional control around your ego right the barbell doesn't care how you feel doesn't care if you think you're badass and you're strong it makes no difference the barbell doesn't lie the weights do not lie to you if you're not strong you can't move them if you haven't put the work in you cannot move them true some days you do feel stronger but based on what you've been doing the week before the couple weeks before how you've been eating how you've been sleeping depending on how heavy you've been lifting in other exercises some days you're not strong the weights days are same and it's absolute truth it doesn't lie to you and it doesn't care about your feelings and your ego you cannot approach a barbell with an ego and say I'm going to lift this so I look cool in front of my friends or the other people in the gym but it doesn't care Bitcoin equally doesn't care about

7:22your emotions either and with Bitcoin the thing that spikes our emotions is the volatility in the market now we know that Bitcoin is volatile we talk about that all the time but when it hits how are you really feeling about that and your reaction to it is actually the problem not the volatility now I train with my brother-in-law sometimes I lift weights with them sometimes and I train some other dudes that are super strong a friend called James he's really strong and sometimes when I go there I want to put more weight on the bar just to try and keep up and some of that competition is healthy like it's actually good to train with other people because it pushes me a little bit but sometimes I can put too much on the bar and I've injured myself because I'm being impatient and because my ego is getting in the way and it's the same with Bitcoin you can become impatient and you can panic when you want to sell stuff or you can over trade selling when you're fearful buying a hype all these things signal emotional maturity and potentially some ego and I feel like now for me lifting weights for quite a long time and I'm building strength over a

8:26long period of time kills your ego and actually I feel like I have less ego around weight lifting now than I did when I really started focusing on lifting weights eight or nine or ten years ago strength is physical maturity holding Bitcoin through volatility is emotional maturity and both of them kind of compound into each other and I really understand now that the gym has taught me how to stay calm under heavy weights and if it doesn't move or I was something not right I've not trained correctly for it and I haven't put the work in that's okay you can stay calm in that but Bitcoin has taught me how to stay calm under volatile market environments this last section here is about responsibility and what the gym has taught me about responsibility and what Bitcoin has taught me about responsibility the reality is no one can lift the weight for you in the gym you cannot outsource weightlifting even the richest people in the world they cannot outsource doing hard things in the gym and taking responsibility for their bodies you can outsource

9:31a lot of stuff the richer you get the more help you can get the more staff you can get the more life may become easier as you get richer but you cannot outsource weightlifting it just doesn't work like that there's no way you can avoid doing hard things if you want to get strong you can read about weight training you can watch videos about weight training but at some point you have to step under the bar and start lifting and money is the same you can learn about money and study money but eventually you've got to start working and earning some money so you're able to save and invest that money and very often I find in this current climate in this current society a lot of people don't want to take responsibility for their finances and they're very quick to attribute blame to someone else for the reasons why they haven't got enough money or they haven't got access to the housing opportunities that they want or access to the jobs they want or they've got too much student debt and it's not their fault of course it should bloody fault you went to university

10:33what do you expect to get your debt paid off there's a lot of stuff in the UK around having student debt paid off right now and I can't really understand why we're doing that it's it's a lack of responsibility and people need to know no one is coming to fix your finances yes in western developed economies there is the welfare state there is social security to some extent you can get a bit of help and there is a bit of a safety net for most people but it's not a good safety net do you really want to be be complaining and not taking responsibility and wanting to to have someone come and scoop you up when things go wrong no that doesn't feel good and I can really fall into this as well I can really fall into it and look around other people and see how well somebody else is doing and the house they're moving into and you know it can start feeling like oh like you know look at them they've managed to get this thing and I can find a reason why they've done that and I haven't done that and you can start

11:34blaming other outside factors for why you're not progressing in the way that you would like to and it can be like a real pity party and I need to really avoid that and it's a terrible situation to get into no one is coming to fix your finances and actually feel like most people listen to this podcast are not in this category I'm just addressing it for a bunch of people that may have tuned in and are a bit of a complainer Bitcoin really removes the excuses it totally removes the ability to blame other people for your situation right now we like to blame the rich the super rich for the fact that housing is too expensive in the UK and inflation is popping off things are getting more expensive and they used to be we love to blame the rich and we want to tax the rich but Bitcoin removes all the excuses you must take responsibility for your own finances in Bitcoin there's no one else to blame you are responsible for your Bitcoin once you buy it and you custody yourself you take ownership of it yourself there is no one else to blame if you lose it you can't

12:34blame anyone else if it goes down in value don't get in touch with me and say are you talking to buy Bitcoin it's gone down I always say to do your own research to to to find out for yourself whether you would like to buy Bitcoin I'm just here saying that I believe it's the best thing that you should invest in but you must take responsibility for your own finances and that is something people find very hard to do and I really believe that weightlifting built my ownership of my own body it built my understanding that I have to put in hard reps I have to put in hard work not just for a couple of months before I go on a summer holiday every single day for years and years and years and people will often look and say oh it's easy for you isn't it you're already fit no I'm not already fit it didn't just happen it took years of responsibility years of waking up at 5am years of eating the right food years of saying no I'm not going to come out on a Tuesday late and drink too much I'm going to go to bed because I'm getting up tomorrow morning years of saying no

13:39to unhealthy food to fear crappy food and also years of saying no to pudding I do eat pudding and sweet stuff sometimes but you've got to get a balance and really take responsibility to think if I eat that it has an impact on the rest of my body and the way I train most people want to have freedom but very few want responsibility but they are the same thing freedom and responsibility go in hand and hand and Bitcoin taught me this and weightlifting has also taught me this so when people ask what my 5am gym sessions have to do with Bitcoin the answer I think you'll see now is quite simple the gym taught me to delay gratification and it taught me to stay steady when things get heavy and it taught me that no one can do the work for me Bitcoin rewards the exact same traits delay gratification emotional control and responsibility and when you realize that Bitcoin stops looking like speculation and it starts looking like discipline hey y'all if you want to

14:44connect with me you can check out my website is milesdillon.com you can get in touch with me that way you can see the stuff that I do stuff that I've done and you can find other episodes this podcast cool see you later guys bye