Fiat mindset Everyone struggling to earn as much units in fiat currencies in the shortest time possible High time preference just as intended by the powers that be, the slavemasters You are but a mere slave... and you do not even realize it “We printed $6 trillion in 2020. The average annual US salary is $60,000. That’s 100 million years stolen.” ⁃ @Breedlove22
I don't need multi-generational wealth like you. In fact, I won't even give any inheritance to my kids. I just need enough to be comfortable, which is lot less than most people here. But seriously, suppose I possess 10 bitcoins. How would that actually free me from "the rulers"? Some of you folks are frankly going too far with this. It's starting to sound like a cult.
your post says a lot Bitcoin is an escape from the fiat debt-based slavery monetary system .... but as you have just clearly explained, you have no need to escape such a system as you have no need for long term store of value. Live for the moment... ...but let me be clear, I think you're doing great and wish you continued success off-topic from the thread, you should consider moving to Southeast Asia, cost of living is low compared to the US, there's plenty of things to do and see, vibrant, 24/7 lifestyle, help and care are inexpensive (i.e. no high cost health insurance, just pay as needed), safe malls and restaurants.... gratuitous image below
No, not living for the moment, but being content with what I have. But thanks all the same for your consideration. BTW I'll be just fine living in the states.
For the guys who are profitable trading and can extract enough money from the market to live on, then there is certainly no need for bitcoin in the current environment. But most people need to work, and most people are already having trouble paying for housing and food, and most people do not even have a retirement plan, and even if you do, I highly doubt that the social programs that exist today will be able to be accessed in 10 to 20 years. So for most people, the system will absolutely fail them. But if you can trade profitably, then when things go to shit you will still make money, and if deflation hits and causes massive layoffs, you will still have your trading, and basically, the only fear would be a breakdown of the financial markets. But this is just a very slight possibility, and if markets break down, the only people safe are the real preppers who own land and stocked up for a long time.
And this isn't even a bitcoin post. Its just obvious that there is no way the US can continue on the path that its on. Something will break. When you have one political party fight with another political party, and an open border is exchanged for continued funding for wars, there is simply no way to escape a major collapse.
But can you honestly say Bitcoin will NOT crash again? My belief is that if anything can crash once, it can surely crash twice. Don't get me wrong, I believe in the future of bitcoin, so I ain't saying this out of spite. But the polemic I hear among some of you is no different from the hystria that I'm so familiar of hearing at the end of the bull run. Also if you're gonna make a prediction that BTC will go up to $1 million, let alone $2.3 million, why don't you at least wait until the damn thing clears above the 2021 high at 69,000 first? We've only recovered half of that and yet you're already at $2.3 million? Sorry, but I can only roll my eyes. Anyway, as they say, each to their own. As such, trade/invest well, friends.
The phrase sounded like a "go out with a bang", apologies what I meant was that we are all living for the moment (present time), if I'm walking by a busy street and slip (rains a lot here) and crack my head or get hit by a car, I'm dead The only thing I can say is that every day, every week, every month, I am making sure that the ones I leave behind will continue to have a comfortable life for the next 30 years minimum
I absolutely agree it can crash, and likely will if the market goes down. It is one of the most liquid assets, and even Musk I think sold 1B worth that Tesla had on their balance sheet because he said he needed to do it for operational reasons. And I agree that we need to clear 69K first. There might well be lots of profit taking here, and certainly at 100k as well. So its not a clear path whatsoever. But lets look at how different bitcoin is than anything else out there. I mentioned in another post how when bitcoin goes on a rally like AMC or GME, it won't have the same constraints. Its not tied to a balance sheet or income statement. It won't have exchanges turning off the buy button in order to suppress the rally. If people buy bitcoin in a reputable exchange and withdraw to cold storage, that bitcoin needs to be transferred in a 100% verifiable way. These ETF's are doing well, but bitcoin is still down from the launch date. But if they continue to gobble up 3-5k bitcoins per day, you tell me where they will get it from if mining only produces 900 a day and soon to be 450. The numbers of how scarce it is are absolutely incredible. There will never be every millionaire owning 1 bitcoin as there are maybe just 1 or 2 million coins that are liquid, and even that is suspect. RFK Jr. bought 1 bitcoin for each grandchild after he learned about it during his campaign. So as it stands today, when the rest of the world wakes up, they won't even have 0.1 BTC allocation possible unless they convert their house fully into bitcoin. I know this all sounds too good to be true, but I honestly believe in the stupidity of the government to create the shock that sends everyone running towards bitcoin. I spent the last few months exchanging 90% of my silver and buying bitcoin, and let me tell you, it was the biggest hassle. The spread was shit, I had to leave the house, there is only 1 dealer in town that takes it. So essentially, previous metals are a joke. If I was ever to buy it again, it would be the electronic version, but now that opens me up to counter-party risk and I have none of the benefits of bitcoin. I sincerely don't trust anything as much as I trust bitcoin. Now granted, I don't have huge wealth to protect, so if it ends badly, I'm not that much worse off. But I have enough that when the government sinks the current system, I will do very well on the other side. I have zero faith in the government and have been waiting a long time for this crash and hope that we see it this year. When Powell goes on TV and says the path the US is on is unsustainable, how are not more people scared?
Every single bull market cycle (I've experienced 3 so far), bitcoin price has crashed at least 75% $1,200 to $150, $20k to $3.2k, $69k to $14.5k If it crashes from $1M to $200K on this bull market cycle, won't be so bad as long as we cash out enough somewhere close to the top If the top is $250k crash to $50k, stil won't be so bad $500k to $100k is the sweet spot for this bull market cycle We will see soon enough, next 2 years will be fun, Invest and trade well, friends