Bitcoin is about to get so expensive that most people will have a hard time rescuing any significant of their personal wealth from being destroyed by inflation and everyone is like "YAY LFG!!"
Amazes me. It's almost as if people have accepted the fact that they'll never do better for themselves so might as well just give up on it and let wall street and governments stack Bitcoin instead.
Most people have not done the self reflection required in order to love themselves enough to let in Bitcoin. This is a journey of self above all.
Indeed.
It takes courage & humility to admit that the current pervasive system isn't just wrong, it's backwards.
Most folks have neither by default
My aunt knowing that I'm into this "crypto stuff" set me up WSJ podcast about how volatile and risky they are.
This is my response:
(Dramatic "duh duh")
"Keynesian economics is just communism with extra steps. I don't do "crypto".
I specialize and create value.
Then I save in Bitcoin,
But only after I invest in myself, My business, and my family's infrastructure."
I think it went over her head.
How is it going to be harder for individuals to rescue a significant amount of their personal wealth?
For example if a person has $500k in an investment property. They think the house is always going up in value so they keep it. Bitcoin goes to $1m and their house is still worth $500k. Having realised that RE is a ponzi & having seen various govts buying it, they sell their house for 50 million sats.
They've still rescued 100% of their wealth but they waited until it had lost 90% of it's value.
The problem with adopting Bitcoin is that you can't get the people you care about to value it as much as you do.
You also can't stop the people that you don't like from buying it.
We all get Bitcoin at the price that we deserve.
None of our opinions matter.
Let them be. I've tried to help as many as I've could.
We push forward. They'll catch on.
Isn't the value of bitcoin determined by fiat? I cannot get an answer to this question.
