Bitcoiners value bitcoin far higher than the current market price. The hodler bedrock is rising all the time. The times of available supply at these ridiculous levels is coming to an end.
Discussion
and it’s because we understand two things:
1. Bitcoin is the best money the world has ever seen
2. ***Money becomes more useful the more people use it**.*
This is the opposite of how most investments work.
- If the price of a stock goes up, then the value decreases because its dividend yield is smaller in proportion to its price. If the price goes up too much, an investor would eventually want to sell for something cheaper, as they can objectively see it is overpriced.
- By contrast, $100 worth of bitcoins today has a better value than $100 worth several years ago, even though the price of Bitcoin is much greater. The reason is that the utility of bitcoin (money) has increased! There is more **optionality** for each dollar. There are more opportunities to unload the bitcoins at the owner's discretion.
It is precisely this positive feedback between price and value that means that the growth of money can be self-sustaining. *(Unfortunately, it equally applies to the downside too - its demonetization can be self-sustaining.)*
Money, through network effects, group psychology and social beliefs can therefore drive its own value into a practically-unlimited top value.
This is incredibly unintuitive to most people - everybody looks at assets like a business, expecting it to require hard work and prudent strategy in order for it to grow. Some even go as far as to critique Bitcoin as worthless because it doesn't produce income. This only exposes their fundamental misunderstanding of what money is.
Bitcoin drips into bitcoiner hands slowly but inevitably.
Absolutely. I never cared what market thinks 😀 My price floor is millions of USD per bitcoin. Bitcoin represents such a massive shift of so many paradigms that it cannot cost less. It is pure nonsense!
I think about this all the time! The Bitcoiners I know would not sell at any fiat price!
I’ve wondered about that point in the future, where no one is willing to trade sats for fiat. They are too valuable to trade for worthless promises.
Instead of giving all to charities, I buy bitcoin to support a fair future for all. I see bitcoin as the best charity of all. Each buy helps all that hodl and can see a bright future
I can’t help but wonder how much of the “available supply” up to this point has been on paper only.
Probably a lot but I was reading some numbers and estimates are there are roughly 500M people who own bitcoin and only probably 600k heavy users. Out of a global population of 8B that’s nothing. Where is all the bitcoin? Are we in a echo chamber or are we still really that early?
Both.
If we really are only 6% global penetration then we are still in the innovation stage
Don't look at the entire globe. Most people probably won't touch Bitcoin until they're left with no choice. Look at that adoption chart you just posted on a per country basis. Realistically, Bitcoin organizers inspired by Bitcoin beach are only just now at a per city basis.
"When I was a young man, I wanted to change the world
I found it was difficult to change the world, so I tried to change my nation.
When I found I couldn’t change the nation, I began to focus on my town. I couldn’t change the town and as an older man, I tried to change my family.
Now, as an old man, I realize the only thing I can change is myself, and suddenly I realize that if long ago I had changed myself, I could have made an impact on my family.
My family and I could have made an impact on our town.
Their impact could have changed the nation and I could indeed have changed the world."
I agree naut
Who would seriously trade truth for lies? To me, that’s what it all comes down to. I keep some lies around for the normies to provide services for me, but my truth is only available for those who espouse truth, which is why I love it here. My truth money can be spread far and wide on a platform supporting truth for truthful purposes.
couldn't agree more☘️
And post halving that pressure will only build more.
Bitcoiners value bitcoin at infinity relative to fiat.
Man, your commitment to Bitcoin and fortitude is incredible given the adversity you’re going though. I commend you whole heartedly for what it’s worth. Wish you calmer seas moving forward. You have my full support. Kudos man 🧡
Thank you 🧡
The more opportunities they give us to stack cheap sats, the faster the path to hyperbitcoinization.
All things find their way eventually. The universe balances out. 🖖🏻
All good things come to an end. Including these really nice bitcoin prices... :(