12min chapter

Coin Stories cover image

Dr. Susie Reilly: We Sold Our Home and Bought More Bitcoin

Coin Stories

CHAPTER

Late to the Cryptocurrency Market

The speakers discuss the concept of being late to the cryptocurrency market and give advice on what to do if someone feels they are too late to invest in Bitcoin. They emphasize the importance of studying and learning about Bitcoin, and they believe that it is inevitable.

00:00
Speaker 2
Yeah, no, that's, that's for sure. I mean, coming in when you did in 2019, did you feel that sense? Like, I'm late. And what do you say to people who are watching this, who feel that they're too
Speaker 1
late now? Yes, I just feel like I was like, I definitely, especially since I did start to get into these like, you know, micro all chip coins that were sent, you know, fractions of a cent. And you know, you get you the Greek creeps in pretty easily and quickly. And you just think I'm going to find the next Bitcoin before you study anything. And so, it, all I say is just study, study, study. And I think the more you read and learn about Bitcoin, the more you'll realize that it, it's, I think it's inevitable.
Speaker 2
I agree with you. You know, I know that this answer might be a little bit complex and we don't have to get into the weeds. But you know, having studied Bitcoin and knowing your industry, dentistry, and how the incentives have sort of been broken and have led to things like, you know, small offices being gobbled up by these other companies, maybe less focus being put on actual patient care, which you and I have talked about offline because I've had some issues with the dentist recently. I mean, how do you think and how would you explain simply how Bitcoin could address things like broken incentives in things like dentistry, but also, you know, really any industry in corporations?
Speaker 1
I think having sound money will allow things like us to get rid of insurance, which I think just brings the whole system when, when we're not paying the actual value of goods and services, because our money has no value. It just undermines everything. And so, you know, I think for example, in dentistry, the amount that most insurance pays, maximum per year is $1,500. So people who feel terrible about not having dental insurance, I usually tell them, well, your insurance would only pay $1,500 a year. So you're probably better off just putting away $1,700. But that $1,500 amount hasn't changed since the 70s, the 70s, whereas dentistry has become astronomically expensive compared to that. And I think it's, and so who's the benefit of that? It's not patients. It's not dentists. It's the corporations because that is how our, you know, that's how our money works. It just, it doesn't benefit. I don't think it benefits the true producers or the people who need services. Yeah, well, I had
Speaker 2
an issue with what I thought was a small family dentist office. It turns out, no, there's a corporation that owns it. There's a corporation behind it. And now I end up wondering if they actually really had, you know, my best interest at heart or if they were trying to make money. And I think a lot of people feel that way in a ton of different fields and industries.
Speaker 1
Yeah, it, I know it's happening in medicine. I know it's happening in veterinary medicine. It's definitely happening in dental offices. We were approached by several of these large BC, you know, hedge fund owned dental chains. And it's intentional in its that they don't want you to know that they're owned by these corporations. So the fact that you did not know that was by design because what they do, for example, they went into by our office and in the contract, they had, and we did not sell to the large corporation. We sold to a solar dentist in the end, but it was in the contract that the office would keep our name. We had to agree that it would stay riley dental because they wanted the public to believe this was still a small office.
Speaker 2
Right. Well, I want to ask you about your retirement because you decided to go to Hawaii. And right now I know Hawaii is just facing one of the worst tragedies in history. I mean, this wildfire, I know someone that you know close to you was impacted. Can you share just a little bit of an update and and how people can help because it seems like everyone knows someone, right? Everyone has a friend there. Maybe a loved one, a family member. What exactly happened because this is just I've covered fires for many years as a reporter. I've never seen anything like this in the amount of of lives lost. So what do you want to share?
Speaker 1
What we are hearing from friends there, we have several friends who are over there helping with the relief after my sister went over and was covering some of the news about it. It is so much worse than the public knows right now. The number of children and elderly who've lost their lives, the number that's coming out now is minuscule compared to what's going to happen. And that's a certainty. So it's beyond tragedy. And what we're seeing over there is that the most health is coming from locals. It's not that there's a huge mistrust of FEMA there. And there's a lot of blockade of aid going on. So most of the meaningful aid that we're seeing is private citizens who are getting star lengths and distributing them or starting food in soup kitchens and delivering them because a lot of people don't have cars. They don't have access to gas. They don't have so I think Red Cross was setting up places to go pick up food, but people couldn't get there. But it was locals who are getting on bikes and delivering it. Or I know here on a wahoo where we are that there's people flying over themselves. They're taking boats themselves to deliver aid. So my wish is that everybody, if you do want to give to this tragedy that there's still immense need there is to give to one of the local funds, not the Red Cross, not the United Way, but to something like if you go to lahanafirefund.com, it takes you to a go fund me. And it's a local who's done incredible work on the ground. And he also puts out the YouTube channel that you can see. I mean, he shows what they're doing and the impact that they're, you know, the difference that they're making.
Speaker 2
I completely agree. I'm sure that a lot of those big nonprofit organizations are well intentioned, but there's a lot of bureaucracy and some of the money does not end up where you want it to go. And I think that if you can donate directly, if you can find the smaller on the ground organizations or the people themselves or the small businesses, it's so much better to send directly. And with something like Bitcoin, you can literally just send it and instantly it'll settle, you know, in their in their wallets. And so I think that that's incredible. Do you want to share the story of wildland and the gallery and some of the good that's come from from that tragic situation?
Speaker 1
Oh, yeah. So my sister's friend, Wyland, Robert Wyland, he's an artist. He's had a when his first gallery, then his first gallery in Hawaii was on Front Street in La Jaina, burned to the ground. But his bronze sculptures, they all survived, even though everything else was just devastated. And so he just on Friday had an option for the bronze pieces that survived the fire and they were able to raise 37,000 for the for the relief efforts there. So yeah, but so many of the things just that downtown anyone who's been knows what a special place it was. Those buildings were many 100 years old and older and it just will never be able to be replaced.
Speaker 2
No, it's so historic. And it was beautiful to see some of the the statues that survived in this rubble and the fact that they can go to do do so much good. I am so grateful that so much money was raised and and so much more is needed. So I'm in a link in the show notes just in case we'll put some of the the organizations that Susie mentioned just in case anyone wants to donate. I know Haley Lennon, she's in the Bitcoin community, her family lost a historic and so a lot of people really, really impacted. And just because the news changes does not mean that they're not dealing with this because I know that sometimes you know the story changes and we turn to the next tragedy, but those people are still there dealing with it. So anything we can do to just remember and honor the people that that are lost. Hopefully people can can help in any small way. So thank you for sharing that. I want to turn to you know another effort that you have in order to help. And that's a clinic in El Zante in El Salvador, which is the first place to legalize Bitcoin as tender. Can you talk a little bit about that and what you're doing there, why it's needed.
Speaker 1
So yeah, I was able to go to El Salvador for the first time in 2021 and just fell in love with it. Fell in love El Zante. I've been fortunate to get down several times since, but there is an enormous need in the El Zante area, which that surrounding Bitcoin beach and the surrounding areas is about 12,000 people. And there's no medical clinic. So I know a few, I've met a few Bitcoiners who've spent time down there and there's been some sort of accident, you know, beach cut or something. And they had to go back and drive all the way back to San Salvador to get medical attention. Which is ours. Yeah. And so and or if you need a prescription, you've got to go to the next town to fill a prescription. So there's no medical clinic. There's no place. There's a dentist there who's doing restorative work for patients, which is wonderful, but no just care, no dental care in terms of paintings and things like that. So no dental clinic and no pharmacy. And so fortunately, I was able to hook up through Hope House with this wonderful group of women, three sisters. The oldest is a physician. The youngest is in Dallas School and the middle one, I believe, is she's in a biology program. So that came up with them to build and run this medical clinic there. So we have the site that is right in in the El Zante area for the clinic. And because it has to serve so many needs, we will they will run it, they will operate it, they will own it, but then we'll have people like my husband and I who come a month or two out of the year and just donate our time and and treat locals. And so the idea is is that it will be state of the art and can treat people who are visiting and expect to live there. But for the local community, it will offer reduced fee care. And that'll be done through the help of volunteers.

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