Bitcoin doesn't compete with gold, fiat currencies or cRaPtOs on transaction speed or throughput.
It competes with all of them on security and decentralisation.
Then it pretty much destroys all of them on L2 (lightning network).
Fiat currencies would find it hard to compete with Bitcoin as the money of choice, if there was no capital gains tax on BTC.
You can't begin to understand how though Muay Thai fighters are until you try to kick someone and land your shin into their knee cap.
All while having a shin pad on.
It's freaking brutal π
Time for an ice pad.
On a positive note, the combos landed nicely today πͺπ»
Yes, exactly. Personally, I'm not looking to buy a home until Bitcoin hits $1M.
There's very little incentive to do it before that.
If Trump really wants the U.S. to have an energy revolution, "drill, baby, drill" isnβt enough.
He needs to free up nuclear energy and cut the red tape to build nuclear plants fast.
Bitcoin is currently trading at $105K per BTC.
Over the last 10 years, it grew at a CAGR of 83%.
Looking forward, over the next 10 years, these are my growth expectations:
β’ Optimistic: 70% CAGR β‘οΈ $21.2M
β’ Conservative: 50% CAGR β‘οΈ $6.05M
β’ Base case: 30% CAGR β‘οΈ $1.45M
What I'm trying to say is, you are NOT late and you are also NOT stacking hard enough.
It is highly unlikely that most governments and entities will skip shitcoins and go straight to holding only Bitcoin.
You don't see most people do that.
Why would you expect that from governments and entities made up of, you guessed it, people?
It's hilarious to see so many Bitcoiners disappointed by the US government with regards to the SBR and crypto assets stockpile.
Did you actually believe that one of the most fiscally irresponsible entities ever would avoid shitcoining and go 100% Bitcoin straight away? π
In order to begin understanding the value of Bitcoin, you need to start with the following conclusion.
All Fiat currencies are 100% mathematically guaranteed to continue to be debased, a.k.a. lose purchasing power.
Once you understand that, you realise that working for and holding fiat currencies guarantees you will stay or become poor.
It also tells you that you should convert your fiat currency units for scarce and desirable assets as soon as you can.
Don't spend your absolutely scarce time and energy for currency units that are and will continue to be printed into existence in limitless quantities.
The more technologically advanced we become, the less scarce gold, silver, and all other precious metals rare minerals will become.
However, the more technologically advanced we become, Bitcoin will remain absolutely scarce with only 21 million coins ever to exist.
That's what most people in TradFi seem to miss.
Over the last 5 years, the average UK house price has dropped by over 90% in Bitcoin terms.
If you want to eventually own a home, your best chance to achieve that, in my humble opinion, is to save for it in Bitcoin, for the next 5 years.
If you're ready to save Β£750-Β£1,500 per month in fiat for a deposit, just save that in Bitcoin and you'll be much, MUCH better off, when you go to purchase your home.
Over the last 5 years, the average US house price has dropped by ~90% in Bitcoin terms.
If you want to eventually own a home, your best chance to achieve that, in my humble opinion, is to save for it in Bitcoin, for the next 5 years.
If you're ready to save $1,000-$2,000 per month in fiat for a deposit, just save that in Bitcoin and you'll be much, MUCH better off, when you go to purchase your home.
There are people out there who truly believe that fiat currencies could be backed by Bitcoin, to make them more "trustworthy" or "harder" or "scarcer".
Backing any currency with BTC does absolutely nothing. It's just theatre.
If you don't believe me, go study the gold standard since the Bretton Woods system until 1971, and see how that worked out.
The idea that backing a currency with a scarce asset will make the currency itself less inflationary or even non-inflationary is absolutely silly.
Personally, I don't think fiat currencies are gonna die anytime soon.
And, for Bitcoin to continue to rise in purchasing power, they don't have to die at all.
That's because Bitcoin will continue to be worth more and more fiat currency units, the more they print.
Shitcoins are vehicles to transfer Bitcoin from fiat-gains-chasing cucks to people who care about growing their purchasing power over the long term.
Do with that what you will.
Me, every time I get the notification about my hourly Bitcoin DCA purchase
Who knows. All I know is he failed to do it on day one, as he himself promised. Glad he did it in the end.