re: Just had a dream

quote:

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I'm all for bitcoin and people using and investing in the technology. I'm just now sure how you think a 32 digit code (whatever it is) on a computer is worth jack shite when the dollar is no longer a reserve currency and the country goes into a depression.

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Excellent question. It gets to the heart of the matter. There have been many reserve currencies over the years. They never last because they are uncapped and centralized. Bitcoin is neither of those things. Remember though Bitcoin is just one of the cryptos and the case usages for the others are myriad. Blockchain is the base for Web 3.0. Think about it like this.

Web 1 is .com
Web 2 is Mobile
Web 3 is Decentralized via blockchain. And that's being built via funding from crypto.

That means EVERTHING is changing. Fast. Google, Facebook, Twitter, Microsoft, Apple, etc... anything where there's a central control over the program... that's either going to adapt to this and thus lose most of their power, or they're extinct as new open source distributed products replace them.

So back to crypto currency. Think about it as 'other money'. In the case of Bitcoin it's a finite resource. There will only ever be 21 million bitcoins. It took gold thousands of years to become money and now gold is worth over $10 trillion dollars. Or however many of the zillions of other currencies out there. And right now, Bitcoin in ten years has become worth over a trillion dollars itself. Over a tenth of the value of all the gold supply.

It took crypto ten years to get over a trillion dollars in market cap. It took it three months to hit twice that. Part of the reason for that is because the dollar is being inflated via nonstop quantitative easing. They're making it worthless as fast as they possibly can. This 'infrastructure bill' is simply an attempt to get as much material value out of those dollars they can get while it's still worth anything. Buy some roads and bridges and shite before your money isn't worth anything.

It's all intentional and it's too late to do anything about it. So if you are clinging to $'s at this point, you can't be helped. You can transfer your wealth into gold, which is not going to grow at a tenth the value of crypto but it's going to hold it's own vs the dollar, or you can go into Bitcoin and the better alt coins and actually ride that to wealth.

Up to you. It's happening either way. And yes, it's gonna crash and then launch again a few times between now and then. Too many whales hold huge positions. But as they cash out, a lot of smart people are buying the resultant dips and dispersing the risk. As that happens, the dips get less violent. Eventually that means it's almost stable. There's SUPPOSEDLY only like 7 million people that have over a hundred dollars worth of bitcoin right now. That's going to be billions.

So what does stable look like for bitcoin? Probably the baseline is around where gold is today. Which means ten times what it is right now. Or over a half million per bitcoin. And that doesn't even take into account all the people who are going to jump in once the inflation of fiat gets severe enough to make them realize their mistake. So probably twice that.

Not financial advice. I'm just a retard. Do your own research.

Me? This is not a normal situation. It's a race to accumulate. The faster you get as much as you can get the better off you're going to be long term. Buy it. Don't look at the price for years.