Some people have managed to accumulate an entire Bitcoin (or more) through either an early purchase, or years of consistent dollar cost averaging. Now they are hoping for a 10x so they can take profit, become a millionaire, and enjoy a comfortable early retirement.
They have been so laser-focused on "number go up" that they failed to see how society has been falling apart all around them. A society that was built upon the very debt-based fiat they seek to acquire.
We like the idea of being a millionaire because it means we'll own bigger houses, perhaps a collection of cars, have the freedom to travel anywhere, eat better meals, etc.
But while we focus on getting rich, the powers that be are preparing for a complete reset of the traditional financial system, followed by a possible ban on all private ownership, limits on travel, and even restrictions on your diet.
High vs Low-Trust Societies
Back in the 80s and 90s we lived in a high-trust society in which you could fully enjoy your fiat riches.
Back then, you didn't have to worry about the government mandating experimental mRNA jabs or pushing some insane woke policy upon you and your family. You could trust that your bank would keep your money safe regardless of your political views, and you lived in a relatively safe community.
But the times, they are a changing.
In the last decade, crime is on the rise across the West as police are ordered to stand down in "sanctuary cities". Trust in government has reached new lows as people's bank accounts are frozen for protesting unsafe mandates. Government-sanctioned illegal immigration is through the roof, and unnatural woke policies are in full-force.
Trust in government, corporations, banks and the healthcare system has been sinking to lower and lower levels.
If we live in a low-trust, lawless, and insanely woke society, do our fiat riches really matter?
Let's say Bitcoin does 10x. Is the plan then to sell it and put the money into a bank account? Something that could be confiscated by the government with a keystroke if you refuse an experimental jab, speak out on crime, or defy woke policies?
We need more than just a censorship-resistant store of value that represents decaying fiat dollars.
A New Crypto-Based System
Crypto is about more than just getting rich in fiat - it's about innovating atop Bitcoin to build the foundation of a new, healthier society. Crypto is forming the pillars of a parallel economy that is sprouting from an old system that's currently under a controlled demolition.
We are witnessing the emergence of cross-chain DEXs, physical assets inscribed on censorship-resistance blockchains, as well as many DePIN projects that are currently rolling out new physical infrastructure independent of the traditional system.
Until next time...
Are you in crypto to get rich in fiat terms, or to achieve freedom from increasingly draconian legacy systems and build a better future? Either way, the technology behind Bitcoin is going to revolutionize politics, finance, and the concept of ownership entirely.
If you learned something new from this article, be sure to check out my other posts on crypto and finance here on the Hive blockchain. You can also follow me on InLeo for more frequent updates.
Posted Using INLEO
Once BTC reaches 1M you don’t need to change it back into Fiat. And as you said, you don’t want that either. 😋
We shall see if the world transitions to a Bitcoin standard... or if its dominance continues to drop over time relative to other cryptocurrencies.
Keep the BTC and perhaps use it as collateral to purchase whatever fiat based needs that one has. I think the vision is to build a parallel financial system that is inclusive and based on sound principles. BTC and crypto by extension can offer us that. It would be a huge bummer to make all this value then transfer it to fiat only for it to be confiscated by the powers that be, thereby rendering the person financial poor :(
Agree that it's better to keep it in BTC/crypto/stablecoins.
But what if one day fiat is completely gone and we are operating 100% on cryptocurrencies...
I would like that possibility lol.
Which cryptocurrency will everything be priced on, BTC or stables? For the latter, it will be easier to adopt than the former because it's inherently not volatile.
Good question.
Do we have any guarantee that the US dollar will always remain "stable" though?
We don't, not by a long mile. I've not given much thought to it but it seems like people in this space ought to treat stablecoins like they would treat USD as fiat. Since it represents one unit of the latter, one is better off not holding much stablecoins if its not a necessity as the principles of having one's purchasing power devalued still applies in some sense.