The setup for next year is going to melt faces and will come from Bitcoin instead of alts most likely!!! haha I would say Bitcoin is a store of value, but the exponential gains are because the tech is not fully adopted yet. Early Google or Apple investors get huge gains whereas now they are more modest.
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A lot of the original value will come from Bitcoin but the splash out to everything else will dwarf BTC gains just like it does every boom cycle. For example someone only has to pump a couple million dollars into Hive for it to pull triple digit percentage gains.
yes, I can concede that. But will everyone gain on alts, or just a small %?
I've been in this game since 2017 and I've played it quite badly.
And yet I'm still at six-figures and almost guaranteed to hit 7 next year.
Considering I was only working a part time job for $15 an hour from 2017-2021 I'd say I'm doing pretty good. So what is the time preference here? 1 year? 5? 10? New users tend to lose money because they join at peak FOMO.
That's pretty good going. Certainly you won't get any near success from the s&p 500.
Would you argue that computers will stop doubling their speed at half the cost every two years after full adoption? Same concept applies to tech that can't be printed to infinity.
I couldn't say, computer tech should keep improving for sure and is of course a factor.. how do you think it would play out then?
My thoughts are more looking at the value proposition as I think there is a finite amount of value that will be stored in Bitcoin. So once it reaches its equilibrium (swallowing real estate monetisation), there may not be such exponential gains to be made because this would entail that it would not be worth for anybody to do anything because just holding Bitcoin would make you higher returns. It must come to a point where you can earn more through work and effort, creating the value..
Chart courtesy of Wicked Bitcoin. He has shown his wages decreased 80% in the last 2 years. At some point, this should stabalise and we will see similar to pre 1913, very stable numbers for things (thats the theory anyhow). Or maybe it never stabalises?
You've answered your own question within the question.
Too many people think the value of Bitcoin comes from value outside the network pumping the price. All of Bitcoin's value is derived from within the network. Humanity is currently operating at 1% potential. Crypto allows this number to rise significantly while creating flywheels we can't even dream of within the current setup.
The system we are in can not scale because it always becomes top-heavy and collapses. Crypto creates a foundation that allows the tower of finance to reach far greater heights before it topples over.
The bear market is an essential piece of the puzzle. The free market is flushing all the bullshit out of the system every four years allowing exponential growth to continue. Meanwhile zombie corporations are kept on life-support indefinitely, which doesn't allow any competition to grow within legacy systems.
Ah makes sense, that is a good way of looking at it. It will be amazing to behold so many people being freed from the fiat enslavement. Hopefully they didn't sell at $100k.
It shouldn't matter if people sold at this or that price.
In the end the only thing that matters is to earn money.
One of the big reasons why Hive is my main platform.