Lucky I got out
21 million BITCOIN, 55 million Millionaires, 7.9 billion People.
How much Bitcoin do you hold?
Well, I am not telling either - but it is more than a Satoshi and less than the Satoshi.
Glad I could clear that up.
What makes me consider this at times is just how lucky I am or, how unlucky I am if this all comes crashing down around us. What I mean is there are companies like Tesla who own 43,200 of these useless things that will never amount to anything, but they have one BTC for about every 13,000,000 of their 587 billion in market capitalization. Since Bitcoin is currently 33,000 dollars each, the "risk" they took wasn't exactly large, and they are still up.
However, while Bitcoin might be somewhat of a dinosaur in some respects, if crypto is going to mainstream, it is a likely candidate to do so first and if there is going to be a run on Bitcoin by people who actually want to hold and control it, not just pretend, there is likely to one day be a very large run on it. A market capitalization of 600 billion dollars is a tiny drop in the financial oceans, but for those who have diligently stacking a little BTC, they may very well end up in a different tier of car or house.
It is going to be a long way up the ladder for me to become "filthy rich", not that I predict myself to ever by filthy. However, does it matter if it is a long time until drinks?
In and out
Reading an article from Australia, they said that 3.3 million Australians owned crypto and,
Research from online financial brokers Savvy found 15 per cent of Aussies had invested up to $5000 in cryptocurrency, 2.5 per cent had thrown in $5000 to $10,000, while 1 per cent went wild with an injection of $10,000 to $20,000.
However, while 15% supposedly own crypto, only 9% own Bitcoin. This could be because a third of the respondents to the survey stated that they bought crypto to make money fast.
The age old reason.
People are quite interesting when it comes to the desire to make money, as it is never fast enough, nor high enough. Also, it can never be easy enough either. So many people seem to think that crypto will give them the workless wealth they dream of, without realizing that it still needs to be invested into to a significant enough level that when it does hit the mainstream economy, it makes a difference.
Quick, you have enough?
I wonder, if Bitcoin (and only Bitcoin) was to go to 1 million dollars today, how many people would be millionaires from it? Technically, there can only be a maximum of 21,000,000 at that price level, at least for those who hold their own keys....
But, if there are over 2 million Bitcoin holders in Australia alone, I suspect that there aren't that many of them who have the coveted "1 BTC" in a wallet somewhere. In reality, it actually isn't that much money, but it is a fair amount for something that may have no value whatsoever.
But, if it does generate value in the coming years, I wonder what all of those little amounts are going to add up to all over the world and, I wonder what all of these people are going to do with it locally.
This is of course not to mention all of the secondary tokens out there that are going to be offering usecase and generating value over the coming years, but most people can't wait for that.
Slow and rough
As said, I consider myself lucky, as while I don't have a massive stack of tokens, I also have a couple jobs so that I don't need to use them to live and, I can also find a few ways to add to the stack over time, This means that I can explore the industry and even take some risks, without having to have a time limit on when I need to get out. Sure, it would be great if my value went 10x this year or even better, 20x - but if it doesn't and I have to wait another 4 years, what does it matter?
Four years from now I will be 46 years of age, which isn't exactly "deathbed" yet, despite what the young might think. In fact, it is probably a pretty good age to have some financial success, as I will hopefully already have done most of the task to get my economic life on track, become largely self-sufficient and have a good understanding of where value comes from, because I have worked for it in a thousand ways, so I am less likely to lose it stupidly.
Will you make it?
Some people think it is stupid not to get out to fiat, I think it is stupid not to be in crypto. A few weeks ago I was thinking that perhaps I wouldn't be able to survive another four years grinding, but who am I kidding, of course I can.
In fact, I am looking forward to it because as much as an easy financial life would be welcome, there are also the other things to consider, like participating in something a person considers important. Crypto is far more than a get-rich-quick scheme, it is a global movement that threatens to change the way we organize ourselves and what we value as individuals and groups. For me, it is rewarding to be part of the industry, to spend time thinking and talking about it and of course, increasingly using components of it to bring value to my life.
Weirdly, crypto has been able to capture my attention like nothing else in this life has so far, and I think it is because it has the potential to interact in so many ways with so many things that we consider important to ourselves as individuals, our families, our local communities and the global society. Bitcoin is only one aspect of a much larger and far-ranging landscape of crypto, blockchain and human.
Perhaps, to be a long-term holder, a person has to have a firm grip on a reality that could be, rather than a short-term desire for a better version of what is.
[ Gen1: Hive ]
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