It seems being a very measured and cautious cash out plan, bro! 🙂 I'm gonna look for the publications where you've talked about your company project (I'd imagine it'd be linked with art or supporting artists?).
I've been thinking for years, and still think, that we're on the verge of the second step in the BTC and crypto world implantation: the black market one. I see more States following China, enforcing their totalitarian fiat CBDCs, and crypto paper hands fleeing the space. BUT it'll be a huge opportunity for us to stick at cryptos as economic and political disruption tools, going back to its p2p and radically non custodial roots 😁. With all centralized exchanges being shut down worldwide - except maybe here in El Salvador, but then we'll probably be invaded by imperial armies - cryptos will surge in value as the layer 1 of the post-dictatorial era.
Let's set up and running our full nodes, even for Hive!
That's a really interesting prediction. If it happens I think this bull market will get cut into two with a big bear market in the middle, like 2018 happening between summer 2017 and winter 2017. I think bitcoin may already be too strong to really be banned at this point.
I think most countries are just going to regulate it heavily and prevent it from being used as a currency for as long as they can, until they figure out how to compete with their CBDC's, which will fail until they realize incentives work better than punishment
More of the same in countries like the US and Japan. Legal as an investment asset. I may have to pay a lot of taxes if I'm paid in bitcoin. I'm still thinking about doing that though.
I haven't written much about the company. It's still a little abstract. I have big plans for it and a first step as just registering my freelance work as a company but the in between step is still fuzzy so I'll hold off on saying too much! Thanks man!
I totally agree that incentives work better than punishment. The problem here is that CBDC's aren't, for those powerful States, an option: it'll be mandatory. If they preserve even a tiny legal window for people to choose between 1) a State run fiat currency with an electronic barnish, that'll come with a thorough and AI driven register of each one of our transactions (where did we buy something, for how much, when, with whom, for which purpose) AND 2) a decentralized currency maintained by a Community of freedom loving devs, which one will citizens embrace?
It's probable that the countries following El Salvador's example will be small ones only (I mean economy wise), except for a couple of "maverick States". I could see Russia adopt BTC, for example.
I think in the end they’ll have officially recognized wallets and want people to use those wallets. It won’t matter if they use the btc or the local currency. The wallets will make it easy for them to watch, and they’ll start monitoring anything off the wallet much more carefully and aggressively.
El Salvador is moving incredibly fast compared to g8 countries. It takes them 5-10 years to make decisions or develop anything so I think a US CBDC is very far away from adoption, maybe we’ll see an beta version in two years but bitcoin will be tearing it up that whole time. The country is run by dinosaurs. The banks have the power but they have to work with the sluggish and ignorant middlemen in government.