i think the theory about 21 million bitcoin and 60 million millionaires is even worse, because i would only count the 2 million bitcoin on exchanges for sale to the 60 millionaires
i also believe that there will be a time when there will be no more bitcoin on exchanges. the local demand will be so huge that you dont need to use a kyc exchange
but maybe i am wrong
what do you think?
#asknostr
Folks better get their 0.01btc, and fast....
the stay humble part is clearly the difficult part
not the price when you buy in
Hard to remain humble knowing for a fact you'll be a millionaire in the next 10yrs when the 1st 30 yrs of your life was trash....
yeah but what do you need? maybe a home or a car but i wouldnt fold to much of my stack only for this. for a home i would maybe pay only 10% of my stack but i would prefer to wait some more years and maybe only pay 2% of my stack for a home.
I'm not selling my stack when that time comes. I don't need a nice house, etc.
I have a 1996 trailer, 1987 motorhome, and an 2002 prius that gets 50mpg.
I'm gooooood to go boi!
I'm Ready to buy sats @$1m
i am ready to buy stuff with fiat
then do a little add value practise
and sell it for sats !
Not wrong, but as that happens the ETFs will face the temptation to fractionally reserve and the millionaires who want a dozen bitcoin each will all but demand it.
Almost none of these millionaires will have any interest in self custody, any will demand legally fractionally reserved ETF coin with the maximum amount of government regulations.
And this will dampen the effect of ngu for the rest of us.
People will always sell sats based on their marginal utility. Outside of technical issues with an exchange, there will never be none available. Any “shortage” of sats on exchanges will be punctuated and met with higher prices. Geo arb will knock out any localized shortages.
2M-5M lost coins is more interesting and makes the calculation even more extreme.
Pienso igual tuvok 👏
I certainly hope you are correct, and soon!
I think échanges (middlemen between miners and users) were a temporary distribution system in the early days of bitcoin and will fall by the waste side as the supply becomes more widely distributed.
Custodians or bitcoin banks will always exist, as long as they offer a better service then self custody and don't go to crazy with fractional reserve since history has shown with a digital asset that can be completely withdrawn overnight you need to keep majority of deposits on hand, in kind, ready to withdraw.
