I'm a bit fed up with the cope. Bitcoin's true USP is self custody outside of the regulated financial system and the ETFs were a wrong turn. We might just be decades early. I think Bitcoin is still the best simply because there is no better alternative. Gold is great until you get 6102d. But if the rest of the world doesn't get it then Bitcoin could underperform other financial assets for years. There's no guarantees around short to medium term price appreciation. Black swans like a hot war between the US and China could put back adoption decades. Or speed it up. But a paper wrapper around Bitcoin custodied in the tradition financial system. Really? It's been great for OGs enjoying their "Bitcoin IPO moment" and trading their corn for, what? Fiat? Probably they are buying property and other assets. Probably buying plan B and C houses in different jurisdictions if they're smart. But many of them are probably fed up with all the drama and are just happy to take the blue pill and live in comfort with a paid off house, car, dividend paying stocks, and some global travel. Can't blame them really. But all this cope from Bitcoiners is depressing. There's people on my timeline pretending they are looking forward to the return of the "58k gang". Really? The happy mask covering a crying face meme was made for these people. Well I hope Odell/Mallers, etc., are right and Bitcoin is still the apex asset and the true signal from the world's last free market. But nothing would surprise me at this point. The world is insane.
Discussion
to be clear $58k would suck
> But nothing would surprise me at this point. The world is insane.
yes
Would suck for those who are:
1 BTC = x USD
But not for those who are:
1 BTC = 1 BTC
😏
1 BTC = 1 BTC is so retarded.
It's freaking money guys. So even if you want to be cheeky and route around dollars there is still a ratio of Bitcoin to real things which matters.
Way different world if 1 BTC = 1 House versus if it takes 100 BTC to buy one. People who celebrate moving backwards are either extremely underexposed or enjoy destroying progress.
this is a UoA problem
accurate pricing is impossible with a fiat UoA because of speculative distortion
one Bitcoin doesn't equal one Bitcoin until everything is priced directly in Bitcoin
And that’s the hope of many. That it becomes a global reserve currency. An inverse of it now. Only fiat maxis hate “1 BTC = 1 BTC”.
these things are never linear and the world is complicated
could be decades
could be regulatory capture
nobody knows
It sucks that probably 99.9% of merchants value your Bitcoin in USD terms. So we can also say 1 USD = 1 USD
Yes
$58K and $85k, if it happens, let’s buy like crazy!
Lots of newly minted plebs who have only stacked over $100k.
$58k would be a gift for them. It’ll seem surreal.
Humans gonna human. LFG
💯