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0 sats \ 0 replies \ @gojira9000 10 May \ parent \ on: Consumers are Surrendering to Inflation econ
It definitely does.
So I'm going to play devil's advocate. The way it reads sounds like they are about to go after some companies they perceive as shady and are actually warning the public to move their money.
Reddit was far better years ago and felt like a fun site for free speech of all kinds. Now it's a cesspool unless you firmly subscribe to leftist ideology.
Sir or ma'am, I lost my seed plates down a storm drain when I tripped and fell on my way to pay my income taxes.
Installing Linux on an old Thinkpad and working out how to use a Raspberry Pi to flash the bios and install coreboot firmware instead of whatever is on there. I'm going to run a Bitcoin node on there and use the machine as my sole access point for my cold wallet. Basically, trying to create a clean, open-source, no BS machine.
I've never used Linux before, so this is proving to be both challenging and rewarding.
It's their duty now to navigate that civilization on its own terms and carve something out of it for themselves, rather than give up and listen to statistics and the internet. Times have been much, much worse throughout human history.
For OPSEC reasons, very few people know I am a Bitcoin maxi other than online, where I only talk about Bitcoin anonymously.
I don't care if people think I'm toxic, because I AM toxic in spaces like Twitter where I emit big HFSP energy to shitcoiners and routinely pick on accounts who are obviously there to manipulate people away from Bitcoin.
My buddy got me into it three years ago, and I believed in everything he said about it as far as value props, and I bought a healthy amount, but I think something finally clicked after watching the dollar fall in value right in front of my eyes, and the behavior of government in general and the very rich when it comes to finance.
George Carlin said, "It's a big club, and you ain't in it." And that's true, except with Bitcoin, this time the poor people got in first, way way before Wall Street. Up until very recently, I planned to cash out a little at the height of this cycle, except this cycle is only the beginning, and maybe it's not a cycle anymore when the whole world wants in, including big finance, nation states, and a big chunk of all the people in the world. There's practically no limit to the value of Bitcoin, so it would be really nice to hold forever, or at least until my Bitcoin stack gives me real buying and borrowing power in and of itself, without exchanging to fiat at some perceived high price.
I DO buy alt-coins, but more as a generally cynical attempt to cash in on other peoples' fomo and gambling. They are going to pump these coins, so I like to put a little money in at a low point and just wait for them to rise to 4x, 5x, etc in the inevitable feeding frenzy and then cash out and take my money. Why not? Other than that, I don't get in too deep with that stuff. It's just a route to easy money and a way to stave off the temptation to dig into my real stack.
40 sats \ 1 reply \ @gojira9000 2 Mar \ parent \ on: The Ultimate Purchasing Power of Bitcoin bitcoin
This is pretty spot on to my assumptions as well. I think we'll absolutely hit a minimum million or more per coin and flip gold, and Bitcoin will solidify itself as precisely what you said: the premier store of value. It's got so much more utility vs gold (i.e. you can send it across the world instantly or carry it across an international border in your head) so all it takes is for the world at large to come to understand that and start adopting it for that purpose.
This cycle alone could see as much as a 400K BTC by some estimates, and other estimates think that isn't bullish enough. I wonder if what we think of as a "Bitcoin cycle" won't smooth out a bit so we see less precipitous drops during the dormant cycle, and therefore a smoother and more constant uptick in price. Going into this halving at or close to the former ATH is already showing a deviation from the norm.
I did a month straight once and it felt great. Really did. I just am a huge lover of cooking and eating and I like variety.
I'm a little bit of an older person and not much for fighting anyone these days, but I'd like to think that I would stand and defend my home. But what that ultimately means is I'd mainly be defending my family members. There are a lot of us who all live in the same area, so if the bulk of them wanted to get somewhere else, I'm going with them.
I dunno, it's tricky, because someone ultimately has to fight. You do not just let someone run over you and take your home from you.
I've definitely shifted my assumptions about the maximum value that this can reach as I watch the waves of institutional money flow in. When nation states start really going for it, I think my assumptions will change again. Considering that really helps me envision a world where this becomes much more embedded in our financial day to day, whether it becomes a reserve currency or just a commonly used one.
It's pretty much 9-6 or so most days but I work from home and my job is fairly low stress these days so I have a lot of time and freedom on my hands to stay plenty healthy.
I'm not scared about my ability to hold my Bitcoin, I'm just worried about someone else taking it from me (or perhaps losing it in some disaster scenario.)
I tried to picture what it would be like to have this BTC stack when it's worth hundreds of thousands per coin (or more) and know there are at least a few people out there who are aware that I own Bitcoin or maybe heard me talk about it in the past, and I realized my security needs to be a lot better. So I'm going multi-sig with a passphrase, decoy wallet, all that stuff, and really thinking creatively about how I want to store my backups.
I'm hoping that I can just live a normal life as the person who never seems to worry about money and not have to reveal why that is. I have a good-paying job and I'm somewhat known as a personal finance nerd so it's plausible that I might retire early.
I have a small group of friends who I talk with about Bitcoin. Other than that, I've strategically mentioned it to people I think could use it, but if they don't bite, then I haven't pushed the issue.
And at this point, I have enough of a stack that I'm starting to get concerned about OPSEC if and when BTC skyrockets to absurd heights so my plan if someone I've talked to about it in the past comes asking about it is to shrug and say something like, "I dunno, I never really had too much of that. Wish I had more now though". Something like that where I can at least encourage them to go get some. Someone I don't know who asks me about it will get..."Naw wasn't my thing." I personally think we're about at the point where we don't need to go evangelize this thing. The word should be out by now.
On the other hand, in my close friends' encrypted chat, it's almost nonstop, super-detailed Bitcoin talk right now.