This time is not like other times, but it is exactly like other times.
We are going to see bitcoins' dominance fade, and then ETH climbs higher, and then alt season. Except, this time, with much more investor money as well as retail money.
The blow off top may be a huge finale, a real finale.
The problem is, do you sell just before the top? What if, at the time you feel it would be a good time to sell, the dollar is crashing harder than bitcoin perceived pullback?
And to make matters more tricky, a bazillion stable-dollar coins are going to be minted.
But, more importantly, are you the type of person that will allow themselves to be wealthy? Or, are you the type that will give all your money away/back like 99% of lottery winners?
When does bitcoin become unobtainium?
In the future, bitcoin will be used to settle debts between large corporations and between govern-cements. It will be the big-boys money. It also may be the world reserve currency, or the thing that everything is priced in.
But, before then, it will be the #1 asset that "money" flees into. During that time, bitcoin will go from solid hands to diamond hands to diamonder hands. At some point, people will not sell bitcoin for any fiat dollar amount. (bitcoin go up, dollar go down, AND bitcoin go up faster than everything else) At that point we will not know what the value of bitcoin is.
We will hear of deals made for bitcoin. Trading a yacht, or a mansion for one. Swapping of supercars for a fraction of a bitcoin. But, there will be no exchange price for bitcoin.
Later, we will see the actual bitcoin economy start. People working for bitcoin and such. Businesses paying for raw materials in bitcoin. But this will probably be after most of the big folks stop dealing with fiat. The dollar may still exist, but it is irrelevant.
What is life changing money for you?
So many people have been talking about becoming bitcoin millionaires. Of buying Lambos, and becoming part of the 1%.
Do you want or need that?
Well, the idea of becoming a millionaire used to be something, now it is the amount most people need in a retirement account to retire these days. However, if you had one bitcoin right now, you will be a millionaire maybe as soon as the end of 2025 and no further away then the next halving. And soon after that, it might be one billion.
Imagine a world where 30,000 satoshis will buy you groceries for the rest of your life.
A world where micro-sats and pico-sats are a thing, a wealth meaningful thing.
You may just need to hold onto your faucet savings until the bitcoinization happens and then you are set for life.
If you just want a simple life, any amount of bitcoin will probably set you up for that.
Keep Your Cryptos Secure
As bitcoin continues to climb in price and importance, more people will be trying to krack people's computers to get at their wallets.
Many people had a thousand bitcoin back in the day, when all they could do was buy Angora socks with them. And many people lost them because they didn't keep the seed phrases secure. Old compys die, hard drives thrown away. Now, 1000 bitcoin is a ridiculous amount of money to have in one place.
Just because you only have a million satoshis is no reason to not secure it properly. It will be life changing wealth soon.
So find out about hardware wallets. Or work out how to make paper wallets on a compy that has never touched the internet.
Titanium plates and letter stamps are the tops, but stainless steel is almost as good. And a stack of plain steel washers is better than most people have.
If you do not advertise that you are a bitcoin millionaire, the most likely loss scenario is your compy stops working. Do you have your seed phrase written down somewhere? The next most likely scenario is house loss due to fire or storm. Will you seed phrase survive that? Is your seed phrase easy to transport if you have to move quickly?
This is your future, put enough effort into preserving it.
When you are finally crypto rich, will you go hog wild and buy everything you feel that rich people should have? Or will you quietly buy a homestead and just, silently retire?
Will you let all of your family and friends know you are crypto rich? You know, this is what usually wipes out most lottery winners. Their friends and family ask for a little bit. Could you help out with …? I just need a little… I have always wanted to start my own restaurant… The nagging never stops, and often makes lottery winners really unhappy/depressed.
A million dollars is not much anymore, however, it is enough to retire on today. Especially if you do not need the fancy house and cars.
It is a very good thought exercise to think about what you would do if you had a million dollars today. What will actually make you happy? Do you want to drive around in a fancy car to show all your friends and … make them envious? Not many people can be happy for you when you do better then them.
That said, many people have had dreams of getting a certain car, and satisfying that dream may be a really great thing to do. Or, letting that dream go because you won't be able to drive your fancy car around on broken streets with angry mobs of starving people glaring at you.
Think things out before it becomes reality. Then you will know what to do when you are crypto-rich!
I've done the calculations for what will be a comfortable life style in fiat terms, taking into account silly, and obscene amounts of inflation and increases in price. I live quite a frugal life style, and think theres a requirement for me to have 3.6M AUD for me and my wife to never work another day in our lives. We could probably do it on less, but we would like to see some of the world beyond our home at some point.
People still do not understand how easy it is to buy and hodl crypto. I don't want things anymore. I want crypto.
I have been well informed that financial assets are only permission of overlords. I have learned this by the actions of those overlords intent on my enslavement to them, and the seizure of my money and property through fraud and corruption in which the courts were principal vectors of fraud. I have understood that what was possible to my forebears has been closed to me, and as a result value very different assets than they did.
I am confident that we are being led into a trap, so I will not follow that herding direction, and this devalues digital assets and systems in favor of actual estimation of good people and the real wealth of goods and services that create the blessings of civilization I enjoy. I commend you to the application of requisite due diligence to secure those blessings to you and yours as will be necessary in the obvious deception narrative we are being fed.
My sincere best wishes for your robust success.
My overarching goal is to be "left to quiet enjoyment", without the need for constant labour.
I am a creative soul, I cannot escape that. Capitalism is not compatible with creativity, and any "support" from entities such as governments and foundations come with far too many ligatures attached.
I seek simple independence from these systems to pursue the renaissance-man lifestyle - to be skilled in many things, and for my mind, body and whims to be challenged, healthy, and satiated.
Unfortunately, I cannot purchase or barter for the things that we all require - calories, water, with crypto, so I still require fiat to hold off the wasting away and to satiate the bridge trolls with their annual, compulsory pleas for taxes, rates, tarrifs and levies.
If you research the Potlatch economies of the PNW Native American tribes there is an idea of the mutual dependence goodwill facilitates, and that is something like what I do. I just take care of my friends and neighbors when they need things I can do, and when I have needs I go to them, which has developed over time into relationships that are dependably mutually satisfactory. There are people capable of goodwill, and people that aren't, and I have to not depend on them that aren't, so don't try that with lawyers. It's neither something that must be all or nothing, but develops over time through appropriate investments in taking care of people. I am not uniquely virtuous, and whole nations had similar economies without money.
I am jealous, to some extent of the richness (probably the wrong word there) that the third world has in terms of its sense of collectivism and the desire to assist. I really enjoy reading the musings of @beelzael on his Ecuadorian bakery on this. Everyone pulls together to get shit done. To get things made. At least, those are the people that get written about, because who knows where the others are.
Meanwhile, I have my four chilli plants that produce way more than I can reasonably consume, and I'd love to trade some for tomatoes, in order to to then allow me to make more chilli sauce than I could reasonably consume, to trade it for eggs, or what ever else.
Unfortunately, Australian suburbia is nothing like this. There are of course "buy nothing groups" - notably on big social networks, but those are ones (from my other comments) that I will be "opting out" of when (it is funny how these things coalesce) digital verification of physical id is required to maintain ongoing access.
Thank you for your comments and continued discourse and engagement. It is thoroughly appreciated.
I also am anticipating losing the fervent verdance of international correspondence we now enjoy upon the requirement of biometric digital ID to access the internet. It is one reason I have flogged Reticulum here, in the hopes that it would gain traction and adoption prior to that surveillance initiating - although it's already bad enough to recommend usable alternatives. Where I expect to seek a connection from Reticulum will not serve, and I will decline to provide PII just to access the internet.
That's not a day I eagerly anticipate.
We can mail letters. Also, the tyranny of the government. Put messages in bottles. Littering. Smoke signals? Arson.
I note that the easier it becomes to get things, the less actual value they have. Financial assets aren't different, in fact they particularly emblemize the issue. In the developing system that enables the financial assets of plebs to be selectively and granularly allowed or prevented from use, the reality becomes such assets aren't assets at all, but leashes used to control the real assets: plebs.
The requirement to have digital biometric ID that enables such control by masters of your application of 'your' assets will have worse consequences than that, as well. There are assets that have relatively immediate liquidity and do not permit such control by masters (like physical PM's), and I strongly recommend free and sovereign people pay very close attention to how they can be extorted by the pretense that tokens are money and are valuable, when instead the entire system they are used within is designed to enslave plebs to vile overlords.
There is no benefit to being permitted to attain to actual wealth - the goods and services necessary to live - only by accepting the ownership of malevolent overlords. It is better to eat scraps in freedom, and I commend to you the due diligence that will be necessary to keep that essential freedom in the age of psyops, fake news, and AI generated virtual reality.
Thanks!
I'm trying to obsolete the accounting for Our energy added into a system (the foundational function of money) so that We all, Humanity, can live as richly as We choose.
Obsoleting Money (article): https://peakd.com/informationwar/@amaterasusolar/obsoleting-money
We have at least 4 steps to get to where you would like to go.
Jumping ahead, or leaping over some steps is not something that humanity can do.
Use the best that this time has to offer for yourself.
I suggest there is only one step, and that is getting free energy tech out in the open. 100% of the cost of everything is energy. The resources sit here freely, but it takes energy to put them into useful configuration.
Add free energy and the accounting for Our energy added will dissipate.
And "steps" that require People to do or be something different will never be. What steps do You think need to happen?
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