Bitcoin is never too expensive. But at a certain point, neither you, me, nor Michael will be buying it.
You will either earn it through work or receive it by selling goods.
Sometimes I see posts like new nostr:nprofile1qqs2xs05tluhtr6hpgsmqqxp04898gayjlyrjlexcrndv8j6el784xqpp3mhxue69uhkyunz9e5k7qg4waehxw309ajkgetw9ehx7um5wghxcctwvs0vd8n5 statement at news- I will buy Bitcoin at $10M. It makes us all bulish and shows his great confidence in Bitcoin. But is it really so bullish? I'm not talking about numbers now but about realization of facts.
Fact is we all who gets Bitcoin will buy it at ANY price, even if it would be $1M for 1 sat.
I just realized it's not a matter of price at all - it's a matter of in which system you want to store your labour. If you want it to be saved you can work whole day for few sats, it's just numbers and only thing that matters is if your sats will buy you the same(or more) amount of goods tomorrow.
Bitcoin guarantees that, competition and creativity of human race keeps prices to fall slowly. No matter the number I'll buy Bitcoin for as long as I'll have any FIAT in hand.
Discussion
Will we see this in our lifetimes ?
There are different ways to look at it. Bitcoin may become the preferred money or there may be laws preventing future CBDCs from being converted to bitcoin.
I'm on the fence about the whole thing. Bitcoin could be the dominant money in 15 years. Or it could be 50 years. I am having a hard time reading the tea leaves. Clearly the current powers that be would prefer to recapitalize the dollar on bitcoin, but the banking elite want cbdcs. I expect both to get pushed aside by sound money eventually. But I can't say when.
What I'm trying to encourage is a change minset.
Exactly that's why I wrote - I'll buy it when I've FIAT in hand.
No FIAT no problem 😁