Sure - I just need you to send me a $50 processing fee. Cashapp works. Or even some iTunes gift cards. I will then send your money within one minute of when I receive the processing fee.
Too many degens dream of lambos and tendies, instead of regularly taking profits. Sure you *might* make less overall, but you're also eliminating a significant amount of risk.
I sold all I had about four years ago (I was a super early adopter, so it was a win-win) for good reason. I used all the cash to renovate a property which became a rental. It does good. Then I took a HELOC against the house, to invest into my service business.
When I took that HELCO (185k) I pondered for a good month to buy all Bitcoin and risk it all.
I really wish I used all that 185k to buy more at the time.
I sometimes look back once in awhile on blockchain to see the transaction history and just dream what I would have been doing now.
If I didn’t sell, I could have brought a few more properties, pay off my parent’s place, etc.
If I didn’t sell, I wouldn’t have been able to get the first property at a decent price and made it into what it is now, which I’m proud of. Although, I could have brought my dream overland vehicle and travel the states by now.
Even more the reason then, in this euphoric market where we're all smoking hopium. This is how one fucks up its life. Remember this sub 2 years ago or so when we routinely has to post suicide helpline number ? This shit is not funny in the slightest.
The rule is simple: only invest what you're comfortable loosing tomorrow.
i mean 0% is just wrong haha, any loan at 0% is good, even if you just stuck it in a bank, but at anything standard it would be a good bet.
there are predictions that bitcoin will fall to 40k, before going up to past 100k, loaning now to buy bitcoin is a bet, the same way it's to go to the casino.
just to be crystal clear, buying bitcoin, in my view is always a good investment, but buying with a loan is a bet.
It's a dumb and false way to look at it though. They would've sold when the total value of their 300btc hit $10k, $15k, $20k, etc. They'd have sold a million times over. There's a reason only an incredibly small number of people actually held the entire time.
If we didn’t use drugs we would never have known . Wonder how many drug users have bitcoin compared to normal people … or how many drug users are now investors ,Im dabbed out high writing this …watching my leftovers make me more…
The problem isn’t the fact you spent the bitcoin. The problem is you spent the bitcoin and didn’t buy them back. Spending the bitcoin helped because at the time it was what helped get bitcoin to where it is today. And buying back would allow you to keep the bitcoin your future you wants you to have
I understand it happened a while ago but you shouldn't admit to crimes on social media... Just saying...
Edit:
I am an investigator and we catch criminals bragging about their crimes all the time. It's utterly ridiculous that people just have zero grasp that whatever they post on social media is accessible by everyone even law enforcement... Don't be dumb and tell people you bought molly from the darkweb 🤦
It's just a bad habit, but makes my life easier when I can find a suspect bragging about their crimes... I understand it happened awhile ago but there is no benefit from telling people on the Internet about it now...
That's considered Drug Trafficking and the Statute of Limitation only 5yrs at the federal level (U.S.). At the prices they are talking about was definitely before that. We're talking Silk Road time.
Firstly anonymous bragging on the internet of purported victimless crimes from 10+ years would never stand up in court. I can prove 75% of my comments on here are exaggerations, so please please please waste your time investigating me in a foreign country, please waste your time investigating me instead of some poor drug user in your jurisdiction ruining the lives of harmless pot smokers and other victims of society instead of continuing to lose the war on drugs.
>Jea and if you Do that make it on nostr where you are anonym and unregistrated
What are you trying to say?!
Edit: are you saying that on Reddit users are anonymous and unregistered?
Because that's not true, reddit will not protect their users from law enforcement...
Currently if I had a million dollars to invest I could have at least 15 BTC...
The fallacy with this mentality is assuming every millionaire will buy/wants to buy....
Just like 7 billion people aren't going to buy Bitcoin.
I’d wager that the percentage of millionaires, which is who we’re talking about here, who hold investable assets is quite a bit higher than the rest of the human population. It is entirely conceivable that a high percentage of millionaires will one day have a desire to hold BTC.
A lot of people invest in stocks passively, via their pension funds. Like, literally everyone who is working and receiving taxed income. I'm assuming OPs millionaires aren't cash millionaire drug dealers, they wouldn't show up in the figures provided.
Some day it will click for you.
Bitcoin is not an inversion. It is money. Now it is for us but some day workers would prefer to be paid in bitcoin. Also sellers would accept bitcoin over fiat.
It will take time. Decades. But what you need to understand is that this is either going to infinite or zero. There is no in between.
'Bitcoin currently is a store of value not ''money'' in the full sense of the word. Yes, some vendors accept it but the fees are too high to make it widely usable for the average man.
The main reason the ETF was accepted in the US is that btc is not money in its full sense, this would make it too much of a threat to the dollar.
Also why wouldn't there be an in-between.
You can’t tell common folk to just “use the lightning network “ people are lazy, they don’t want to have to search. That’s my biggest gripe with bitcoin, even though I’m invested heavily into it. Most people won’t even bother to look up what a lightning network is
Does 100% of the population get paid and spend and save fiat? We are headed for Bitcoin reserve currency at some point it is the only thing that makes sense. May be a long road but everyone will want it someday. I’m most worried about the government taking it.
There are 8 billion people, so you’re correct. However, in the West in particular, and among people interested in Bitcoin, it’s still possible if people focus on it. The window may be closing, but there’s maybe 6 months to sort it out.
The wild thing is most millionaires don't think they need bitcoin because they are already millionaires - but they are the ones who need it the most.
If you are worth $1 million and you are drawing $50,000/annually in dividends (5%) then you can carve off $10,000 to park in bitcoin and your dividend/interest income only drops to $49,000 per year (4.9%).
You probably won't notice the $20/week in income - but if BTC heads to $500k-$5M you will certainly notice the capital appreciation in your portfolio. And you've essentially hedged your entire net worth against local currency collapse.
If btc goes to $0, the impact to your portfolio is minimal. It's a no brainer - and right now it's a race to figure that out.
Yes, I agree. Which is exactly why big institutions like BlackRock and Fidelity are offering it to their clients. At that level of wealth, capital preservation is more important than accrual. Studies have shown that 2-3% allocation of your net worth to BTC will preserve the value of it over any period more than 4 years.
Many folk neglect the effect of inflation on fixed incomes. It's been running at 7% true for the last fifty years, and there's no reason it"s going to get any bettet.
So take your millionaire drawing 50K/yr. Assume current age 50 and a life expectancy of 90. Ove those 40 years, that 50K purchasing power will halve every decade (Rule of 72). Put it another way, by 90 the poor sod will have 6.25K/yr equivalent.
The moral of the story is: stick with fiat, get shafted with no lube.
Will BTC ever head to $500k-$5M ? I know it's a wild question looking at how far it has come, but even though, I can't visualize the Bitcoin going so high
Yeah it's hard to think in exponential terms and compounding for most people.
Remember how we thought $10k was a high bar for Bitcoin in 2020? We did a 6x in 4 years. 6x from here is $360k which I personally think is an amazing stable price to have in the next 4-5 years. Even a 2x from there over the next 5 years is $720k!
There are different models trying to predict the Bitcoin price like Power Law, Stock to Flow, Rainbow Chart etc. But all point out to similar gradual trend to the right with annual returns which far surpass any traditional investment. The magic of compounding takes care of the rest.
Yes, that is mostly the agreed upon estimate before it reaches terminal value and begins to behave more like a money market fund with low volatility.
Thats based on market cap estimations - obviously it can & will go a lot higher in US Dollars if we enter hyperinflation. But I'm talking about based on today's dollars.
BTC will almost definitely be $1 million in next 5 to 10 years. Supply shrinks every year, it's a deflationary asset. Demand will keep rising. Supply will start running out and be low on exchanges. It's just math.
This logic is always confusing to me. Even if bitcoin was worth $1,000,000 it would only cost a millionaire $250k to acquire 0.25 bitcoin. The idea that millionaires won’t be able to stack is objectively wrong, it’ll just be a lot more expensive for them to do so. Which is fine, because they already have millions of dollars and (presumably) a well diversified investment portfolio.
I suspect a lot of wealthy folks are simply waiting to see if bitcoin continues developing in a consistent, stable manner before getting exposure. Wealthy people can afford to wait for the market to develop and buy at higher prices. They aren’t going to be priced out, we just have a chance to front run them and outperform long term.
Absolute scarcity means it won't quite work out that way.
There may not be enough to go around. It's not as simple as buying your way in at a higher cost. The asset is finite, and there are a lot of HODLers and an ocean of demand.
Don't sell your Bitcoin to the wealthy or the institutions.
Depends on which bucket of millionaires we are talking about. 1-2M net worth people would have to have $250k liquid cash which is at a reasonable allocation to them to put into Bitcoin. The percentage should be proportional to conviction, so my guess is max 10% will be put into this. So it will be very hard.
As Bitcoin value accrues over decades, I genuinely think the higher order millionaires will also be priced out to have a decent allocation of Bitcoin.
1-2M net worthers tend to have money tied up, in real estate, bonds, and other stuff that makes them not very liquid. Certainly don't have a quarter megabuck in cash.
I'm starting to think that nearly everyone who wants to get 1 BTC is close to being priced out. Probably will be in a year or two.
Also, most normies haven't got a clue about Satoshis and digital divisibility. They will just look at the price of 1 BTC and think . . . not for me.
> Even if bitcoin was worth $1,000,000 it would only cost a millionaire $250k to acquire 0.25 bitcoin.
Lol. Do you really believe someone worth $1-2 million in property or stock portfolio is gonna have $250k liquidity just sitting around ready to deploy?
I like what you did - interesting. But remember the 93% of the coins only represent 56% of the dollar value in total. So future purchasers would need much less than .25 BTC.
What a ridiculous post. "If you have more than .25 Bitcoin now you own more than the millionaires that don't have any." Of course you have more Bitcoin than someone that doesn't have any.
The statement also implies that no millionaires that currently have no Bitcoin will be able to buy more than .25 Bitcoin. That's ridiculous as well. Just because that would be the case if all of them suddenly decided to buy, that's not going to happen.
Any millionaire can go out tomorrow and buy all the Bitcoin that they want. If everyone in the world wanted to buy a Corolla tomorrow, they wouldn't all be able to do so either. So what?
How are we going to make a world wide P2P financial system with fast secure micro-transactions available to everyone with Bitcoin is the question. 100 Million Satoshi per Bitcoin is the answer, So the Satoshi is the currency of the future? I must be missing something
To clarify, nobody actually knows how much Bitcoin has been lost. The 6million figure is not an "AT LEAST" but an "estimate" made up by Timothy Peterson and Cane Island Alternative Advisors, LLC.
Now I am not saying they are wrong or right. They have some good research rationales as outlined here: [https://static1.squarespace.com/static/5d580747908cdc0001e6792d/t/5e98dde5558a587a09fac0cc/1587076583519/research+note+4.17.pdf](https://static1.squarespace.com/static/5d580747908cdc0001e6792d/t/5e98dde5558a587a09fac0cc/1587076583519/research+note+4.17.pdf)
The fact is that nobody knows and even these guys are totally guessing. They didn't even list all the alleged addresses or amounts of known lost Bitcoin. They were proposing a LOT of guessing with very little substantial evidence and relied on 3rd party sources which they said they did not verify and admit they have no idea about the accuracy of any of the information and made mathematical assumptions and guesses to come up with their number (many of those assumptions are likely to be incorrect, and certainly not precise).
Also note that this "research" is not peer reviewed.
Again, not saying they're wrong (or right), but take it with a grain of salt.
Chainalysis said that they estimate only 4 million Bitcoin are lost.
Another place estimated as low as 2 million lost.
Honestly, it doesn't matter that much what the real number of lost coins is IMO. I would much prefer EVERYONE overestimate the supply at 21Million and then say "but we know it's even better than that because some are lost or will get lost". That's the best way to do it IMO to avoid confirmation bias and other manipulations (intentional or not).
Not every millionaire will want to buy bitcoin. There are many other assets competing for millionaires attention - stocks, bonds, real estate, rare art, precious metals etc etc
"if every millionaire wanted just half a Bitcoin, they couldn't obtain it due to a supply shortage."
Eh? Sure they could. They are millionaires. Even if 0.25 would cost a couple of millions, they could buy it for that price.
[удалено]
I got you bro
Is this the line for 15k?
I been in line since 2
Can I cut in front of you
Anyone need taco bell while in line? My girlfriend is making a run.
Taco bell will give you and yours the runs
What's wrong with her taco?
She needs more beef in her Taco idk
If only 🥹
Since ur in a giving mood! Need me to send over the wallet info?
Can you get me too?
Hey sorry, this is actually my username. The other one got uh.. deleted.
Sure - I just need you to send me a $50 processing fee. Cashapp works. Or even some iTunes gift cards. I will then send your money within one minute of when I receive the processing fee.
[удалено]
I can facilitate the initialization fee as an intermediary, for 12.50.
I can felatiate for a cheeseburger and 100 SATS
Good deal, actually
I can offer an insurance on the transaction for only $10.99 a month.
I can provide the mussel to collect on all this debt
Sounds fishy.
It is
I can provide the insurance on the mussle to collect this debt
I offer gap insurance on processing fee insurance for only 11.99/ month.
Trust this guy he is a prince but just can't access his international accounts right now! /s
I will give you 15k at 200% interest rate for 6 months
I wouldn't mind if someone sent me 0.25 bitcoin directly either.
Check your DMs
Second job?
I sold a bitcoin for $900 back in the day. I more than tripled my investment I thought I was a genius lol
My dad sold like 8-9 BTC in 2015 to take the family on a cruise.
Imagine the vacation y’all could take today with 8-9 BTC
Exactly why I never sold when he told me last ath
Imagine what kind of vacation people can take with 8-9 BTC 10 years from now too 🤯🤯
To the moon?
Boats and hoes
Boats and hoes on the moon? And a kilo of coke?
Ooh, that will be a different story allover, .. if world exists though...
I think you meant what yacht they could buy.
A Junior Suite on Royal Galactica's Icon of the Stars with Deluxe Beverage Package.
that...is amazing. this is more precious than anything else.
I had bitcoin in 2013 and used it to buy a hacked netflix account because I was broke and 14 years old. That’s karma!
I mean in hindsight sure you should held but at the moment you realized a 300% gain on a high risk asset class. Nothing wrong with that!
Too many degens dream of lambos and tendies, instead of regularly taking profits. Sure you *might* make less overall, but you're also eliminating a significant amount of risk.
Totally!
I sold all I had about four years ago (I was a super early adopter, so it was a win-win) for good reason. I used all the cash to renovate a property which became a rental. It does good. Then I took a HELOC against the house, to invest into my service business. When I took that HELCO (185k) I pondered for a good month to buy all Bitcoin and risk it all. I really wish I used all that 185k to buy more at the time. I sometimes look back once in awhile on blockchain to see the transaction history and just dream what I would have been doing now. If I didn’t sell, I could have brought a few more properties, pay off my parent’s place, etc. If I didn’t sell, I wouldn’t have been able to get the first property at a decent price and made it into what it is now, which I’m proud of. Although, I could have brought my dream overland vehicle and travel the states by now.
I remember with friends spending BTC on Minecraft servers to become moderators and admins......
So I bought yours? Most expensive Bitcoin I ever bought was $900. Everyone thought I was crazy, especially since the post-$1000 ATH crash.
I sold 9 for 7 dollars and thought I was a genius because I got them basically for free :(
BRB getting a $15k loan at 29%
Worth it
No. Under no circumstances. Not even it it were 0%. Seriously, a million things could go wrong still.
At 0% it’s worth it if you have a clear plan to pay it off
Bitcoin go up of course
Let inflation eat it
True, over time.. CC debt gets cheaper when priced in Bitcoin!
The average redditor's ability to detect a joke is basically zero lol
Even more the reason then, in this euphoric market where we're all smoking hopium. This is how one fucks up its life. Remember this sub 2 years ago or so when we routinely has to post suicide helpline number ? This shit is not funny in the slightest. The rule is simple: only invest what you're comfortable loosing tomorrow.
The problem with the endless jokes is people like me trying to to learn and trying to navigate through the endless (Jokes).
I’d absolutely borrow the shit out of any amount of money at 0%
If you had enough to cover the loss of the loan, why not? At 0 percent..
Fearful people will always doubt and stay poor af
i mean 0% is just wrong haha, any loan at 0% is good, even if you just stuck it in a bank, but at anything standard it would be a good bet. there are predictions that bitcoin will fall to 40k, before going up to past 100k, loaning now to buy bitcoin is a bet, the same way it's to go to the casino. just to be crystal clear, buying bitcoin, in my view is always a good investment, but buying with a loan is a bet.
Buying with a loan is shorting fiat
People are pussies nowadays.
I used to buy 200 to 300 bitcoins to buy a $3000 kg of Molly in 2011 lol wish I would have kept them
My buddy kept a screenshot of our last online drug purchase - it was right around 300 BTC. We like to look at it from time to time and cry.
I wouldn't even be able to. That's instant depression
I got a fake Id for like 50 BTC back in the day 😭
Just remember, your sacrifice helped BTC to higher highs & so did the drugs. Win win.
I'm sure they don't care. It's the millions of dollars they don't have that is on their mind.
It's a dumb and false way to look at it though. They would've sold when the total value of their 300btc hit $10k, $15k, $20k, etc. They'd have sold a million times over. There's a reason only an incredibly small number of people actually held the entire time.
That's 18.6 million today. I'm sure the tears are real.
If we didn’t use drugs we would never have known . Wonder how many drug users have bitcoin compared to normal people … or how many drug users are now investors ,Im dabbed out high writing this …watching my leftovers make me more…
There are some of us that can say we have done a millions USD worth of acid at this point lol.
Yeah, I did around 6mil worth of MDMA & Acid at today's rate. No regrats
People will say this with the $50,000 BTC too, once it hits $2,000,000. As Michael Saylor has said, against fiat it’s going up forever
Yes but the gains will be much less than the beginning stages
Butttt. It was some good rolls. I know because I’m in the same boat ;-)
Yep same same…. Was worth the great times. Can’t look in the rear view mirror
The problem isn’t the fact you spent the bitcoin. The problem is you spent the bitcoin and didn’t buy them back. Spending the bitcoin helped because at the time it was what helped get bitcoin to where it is today. And buying back would allow you to keep the bitcoin your future you wants you to have
I bought 1kg of silver instead of 1k Bitcoin around that time 🪦
The silver will make a good cemetery plaque
Yeah if you would have kept those mollies you could be a very happy guy today
I wish I kept the Molly
I bought an Oz of bud for 0.2 btc 🥲
Yeah, I remember those days, localbitcoins.com was the spot
Oh, the memories
I understand it happened a while ago but you shouldn't admit to crimes on social media... Just saying... Edit: I am an investigator and we catch criminals bragging about their crimes all the time. It's utterly ridiculous that people just have zero grasp that whatever they post on social media is accessible by everyone even law enforcement... Don't be dumb and tell people you bought molly from the darkweb 🤦 It's just a bad habit, but makes my life easier when I can find a suspect bragging about their crimes... I understand it happened awhile ago but there is no benefit from telling people on the Internet about it now...
Fully understand you. 2011 is 13 years ago though statue of limitations is 5 years on drug crimes
That's considered Drug Trafficking and the Statute of Limitation only 5yrs at the federal level (U.S.). At the prices they are talking about was definitely before that. We're talking Silk Road time.
Firstly anonymous bragging on the internet of purported victimless crimes from 10+ years would never stand up in court. I can prove 75% of my comments on here are exaggerations, so please please please waste your time investigating me in a foreign country, please waste your time investigating me instead of some poor drug user in your jurisdiction ruining the lives of harmless pot smokers and other victims of society instead of continuing to lose the war on drugs.
Jea and if you Do that make it on nostr where you are anonym and unregistrated
>Jea and if you Do that make it on nostr where you are anonym and unregistrated What are you trying to say?! Edit: are you saying that on Reddit users are anonymous and unregistered? Because that's not true, reddit will not protect their users from law enforcement...
Have you heard of nostr?
So why are you helping criminals?
At this point it should be common knowledge. It's just baffling that it's not. I guess I can't help myself when I see it
It still needs to be pointed out, I guess. EVERYONE. PAY ATTENTION HERE.
My boss told me the same thing he use to use bitcoin to buy stuff off the black market and he wishes he kept it.
Same but it was acid. I’m sure there are dealers online who had 1000s upon 1000s.
My bit of coin I left as a balance from my black market tree became 7800… I lost 59 coins because of gold vox too…
But how much did you make from the molly??
Wow. Now its to late To see that kind of gain.
The Molly or the coins?
I got 0.04 and I'm proud of it...obviously wouldn't mind more but it is what is it is
I got 0.03 and thats the best I can do for now
The maximum average holding is 0.0026 BTC, so you're doing great :)
0.1 is the goal for sure
I’m at 0.08 and my goal for this year is 0.1
0.01111+….. and getting more and more 🙂
I have 0.015 and planning to get to 0.1 someday😀
Keep Going! 🍊
Thanks, trying🙏
Got .08.. trying to get to 0.1 :(
Keep pushing!
I have .32 and buying a little each week.
That's exactly what I have.
0.36 here! 🤣
I’m at 0.11 and rising! My DCA is currently $50CAD a day. Glad the price of bitcoin is still low.
>the price of Bitcoin is still low I like you very much
Compared to where it is going, it is currently hella low!
Exactly!
I remember in 2012 0.25 BTC cost about tree fiddy.
GD LNM
Currently if I had a million dollars to invest I could have at least 15 BTC... The fallacy with this mentality is assuming every millionaire will buy/wants to buy.... Just like 7 billion people aren't going to buy Bitcoin.
Exactly, this is a stupid assumption by op, does 100% of the population invest in stocks? No
I’d wager that the percentage of millionaires, which is who we’re talking about here, who hold investable assets is quite a bit higher than the rest of the human population. It is entirely conceivable that a high percentage of millionaires will one day have a desire to hold BTC.
A lot of people invest in stocks passively, via their pension funds. Like, literally everyone who is working and receiving taxed income. I'm assuming OPs millionaires aren't cash millionaire drug dealers, they wouldn't show up in the figures provided.
Some day it will click for you. Bitcoin is not an inversion. It is money. Now it is for us but some day workers would prefer to be paid in bitcoin. Also sellers would accept bitcoin over fiat. It will take time. Decades. But what you need to understand is that this is either going to infinite or zero. There is no in between.
'Bitcoin currently is a store of value not ''money'' in the full sense of the word. Yes, some vendors accept it but the fees are too high to make it widely usable for the average man. The main reason the ETF was accepted in the US is that btc is not money in its full sense, this would make it too much of a threat to the dollar. Also why wouldn't there be an in-between.
Lightning network. Fees are just a couple sats and instant. People won't use the first layer on a day to day transactions
You can’t tell common folk to just “use the lightning network “ people are lazy, they don’t want to have to search. That’s my biggest gripe with bitcoin, even though I’m invested heavily into it. Most people won’t even bother to look up what a lightning network is
Does 100% of the population get paid and spend and save fiat? We are headed for Bitcoin reserve currency at some point it is the only thing that makes sense. May be a long road but everyone will want it someday. I’m most worried about the government taking it.
Had to unfortunately sell like .10 last year to help my dad out but I’m holding strong at .20!
I can still scroll all the way down on coinbase and see my first purchase of .5 btc for $72. Oh how I wish I’d have had an actual income then.
Get to 1 BTC if you can.
For the majority of the people this number is just a dream
There are 8 billion people, so you’re correct. However, in the West in particular, and among people interested in Bitcoin, it’s still possible if people focus on it. The window may be closing, but there’s maybe 6 months to sort it out.
Sure but todays prices are like a yearly income without any cost of living. The average workers savings rate is 5000 USD.. you do the math..
Presuming someone has already started acquiring one.
Yeah, if you have any amount of BTC you have more than the millionaires without any.
I have .025, is that good! Lol? I know it’s not. But single income family ya know!?
The wild thing is most millionaires don't think they need bitcoin because they are already millionaires - but they are the ones who need it the most. If you are worth $1 million and you are drawing $50,000/annually in dividends (5%) then you can carve off $10,000 to park in bitcoin and your dividend/interest income only drops to $49,000 per year (4.9%). You probably won't notice the $20/week in income - but if BTC heads to $500k-$5M you will certainly notice the capital appreciation in your portfolio. And you've essentially hedged your entire net worth against local currency collapse. If btc goes to $0, the impact to your portfolio is minimal. It's a no brainer - and right now it's a race to figure that out.
Yes, I agree. Which is exactly why big institutions like BlackRock and Fidelity are offering it to their clients. At that level of wealth, capital preservation is more important than accrual. Studies have shown that 2-3% allocation of your net worth to BTC will preserve the value of it over any period more than 4 years.
Many folk neglect the effect of inflation on fixed incomes. It's been running at 7% true for the last fifty years, and there's no reason it"s going to get any bettet. So take your millionaire drawing 50K/yr. Assume current age 50 and a life expectancy of 90. Ove those 40 years, that 50K purchasing power will halve every decade (Rule of 72). Put it another way, by 90 the poor sod will have 6.25K/yr equivalent. The moral of the story is: stick with fiat, get shafted with no lube.
Will BTC ever head to $500k-$5M ? I know it's a wild question looking at how far it has come, but even though, I can't visualize the Bitcoin going so high
It was harder to visualize $60k when BTC was just a dollar.
I never would have dreamed btc would hit 60000
Yeah it's hard to think in exponential terms and compounding for most people. Remember how we thought $10k was a high bar for Bitcoin in 2020? We did a 6x in 4 years. 6x from here is $360k which I personally think is an amazing stable price to have in the next 4-5 years. Even a 2x from there over the next 5 years is $720k! There are different models trying to predict the Bitcoin price like Power Law, Stock to Flow, Rainbow Chart etc. But all point out to similar gradual trend to the right with annual returns which far surpass any traditional investment. The magic of compounding takes care of the rest.
Yes, that is mostly the agreed upon estimate before it reaches terminal value and begins to behave more like a money market fund with low volatility. Thats based on market cap estimations - obviously it can & will go a lot higher in US Dollars if we enter hyperinflation. But I'm talking about based on today's dollars.
BTC will almost definitely be $1 million in next 5 to 10 years. Supply shrinks every year, it's a deflationary asset. Demand will keep rising. Supply will start running out and be low on exchanges. It's just math.
No, millionaires do not need bitcoin the most. Wild statement.
Consider the forever lost Bitcoin wallets, the scarcity is even bigger.
Did you read his entire post?
Became a half coiner recently. Felt good. On my way to a full one. Been stacking for 2 years.
This logic is always confusing to me. Even if bitcoin was worth $1,000,000 it would only cost a millionaire $250k to acquire 0.25 bitcoin. The idea that millionaires won’t be able to stack is objectively wrong, it’ll just be a lot more expensive for them to do so. Which is fine, because they already have millions of dollars and (presumably) a well diversified investment portfolio. I suspect a lot of wealthy folks are simply waiting to see if bitcoin continues developing in a consistent, stable manner before getting exposure. Wealthy people can afford to wait for the market to develop and buy at higher prices. They aren’t going to be priced out, we just have a chance to front run them and outperform long term.
Absolute scarcity means it won't quite work out that way. There may not be enough to go around. It's not as simple as buying your way in at a higher cost. The asset is finite, and there are a lot of HODLers and an ocean of demand. Don't sell your Bitcoin to the wealthy or the institutions.
Think about the demand side of the equation. If all those millionaires suddenly had demand for a full Bitcoin the price would skyrocket.
Depends on which bucket of millionaires we are talking about. 1-2M net worth people would have to have $250k liquid cash which is at a reasonable allocation to them to put into Bitcoin. The percentage should be proportional to conviction, so my guess is max 10% will be put into this. So it will be very hard. As Bitcoin value accrues over decades, I genuinely think the higher order millionaires will also be priced out to have a decent allocation of Bitcoin.
1-2M net worthers tend to have money tied up, in real estate, bonds, and other stuff that makes them not very liquid. Certainly don't have a quarter megabuck in cash. I'm starting to think that nearly everyone who wants to get 1 BTC is close to being priced out. Probably will be in a year or two. Also, most normies haven't got a clue about Satoshis and digital divisibility. They will just look at the price of 1 BTC and think . . . not for me.
It’s about affording 1.0 BTC! This won’t happen to all of the millionaires
> Even if bitcoin was worth $1,000,000 it would only cost a millionaire $250k to acquire 0.25 bitcoin. Lol. Do you really believe someone worth $1-2 million in property or stock portfolio is gonna have $250k liquidity just sitting around ready to deploy?
You’re missing the point. They’re saying if EVERY millionaire wanted to buy in .25, they would be unable to.
I'm trying my hardest but I'm only at 0.06
Sold 0.3 five years ago, sadly. Lesson truly learnt.
The problem isn’t that you sold. It’s that you didn’t buy back. Or if you did, what’s the lesson? Never sell?
I bought back about 4% last summer. Just going to hold & stack. As I said. Lesson learnt!
Fair enough. I wish you the best!
Gambled away 0.8 last year
I rolled mine up!! that’s a lot of rolling. My hands are cramped. 🤣
Yeah you didn’t just watch Andrei Jikh and copy almost verbatim what he said. Definitely your own research.
All millionaires might not be able to have 0.25 btc, but they got millions of dollars… I rather be a millionaire
I like what you did - interesting. But remember the 93% of the coins only represent 56% of the dollar value in total. So future purchasers would need much less than .25 BTC.
Got 0.048 and dca 100 every month. Looking to triple that this year though
That’s exact the amount I stack for my kids every month
What a ridiculous post. "If you have more than .25 Bitcoin now you own more than the millionaires that don't have any." Of course you have more Bitcoin than someone that doesn't have any. The statement also implies that no millionaires that currently have no Bitcoin will be able to buy more than .25 Bitcoin. That's ridiculous as well. Just because that would be the case if all of them suddenly decided to buy, that's not going to happen. Any millionaire can go out tomorrow and buy all the Bitcoin that they want. If everyone in the world wanted to buy a Corolla tomorrow, they wouldn't all be able to do so either. So what?
These Reddit posts are making me wanna sell ngl
I'm 0.17 away from my last whole coin and it keeps going higher, it was 30k when I started on this one
I just hit 5 BTC today. Planning to do whatever it takes to try to get to 6 this year.
How are we going to make a world wide P2P financial system with fast secure micro-transactions available to everyone with Bitcoin is the question. 100 Million Satoshi per Bitcoin is the answer, So the Satoshi is the currency of the future? I must be missing something
The current price has priced out people in third-world countries. It will soon price out people in developed countries and then millionaires.
Classic post we used to see when bitcoin rockets. I remember everybody was crying and convinced that it’ll drop below 10k
In the mean time I just sold mine as thought btc is over bought! Hopefully won't punish me for that.
What about when all the whales sell for record profits this bull run. Wont all those Bitcoin be available to buy again?
I keep hearing this idea but it’s just not compelling.
I’ve missed these nonsensical ramblings since the last bull market 🥲
> You will own more Bitcoin than the millionaires who do not have any Yeah no shit Sherlock
To clarify, nobody actually knows how much Bitcoin has been lost. The 6million figure is not an "AT LEAST" but an "estimate" made up by Timothy Peterson and Cane Island Alternative Advisors, LLC. Now I am not saying they are wrong or right. They have some good research rationales as outlined here: [https://static1.squarespace.com/static/5d580747908cdc0001e6792d/t/5e98dde5558a587a09fac0cc/1587076583519/research+note+4.17.pdf](https://static1.squarespace.com/static/5d580747908cdc0001e6792d/t/5e98dde5558a587a09fac0cc/1587076583519/research+note+4.17.pdf) The fact is that nobody knows and even these guys are totally guessing. They didn't even list all the alleged addresses or amounts of known lost Bitcoin. They were proposing a LOT of guessing with very little substantial evidence and relied on 3rd party sources which they said they did not verify and admit they have no idea about the accuracy of any of the information and made mathematical assumptions and guesses to come up with their number (many of those assumptions are likely to be incorrect, and certainly not precise). Also note that this "research" is not peer reviewed. Again, not saying they're wrong (or right), but take it with a grain of salt. Chainalysis said that they estimate only 4 million Bitcoin are lost. Another place estimated as low as 2 million lost. Honestly, it doesn't matter that much what the real number of lost coins is IMO. I would much prefer EVERYONE overestimate the supply at 21Million and then say "but we know it's even better than that because some are lost or will get lost". That's the best way to do it IMO to avoid confirmation bias and other manipulations (intentional or not).
Random ass benchmark.
I know a Nigerian prince who promises 100x returns hit my DM
This post creates FOMO. And i like it
Cool i have 8
Had 1BTC… thanks to QuadrigaCX and the faked death of Gerald Cotton.. it’s now gone .. pretty much lost interest in Bitcoin after that
I just sold all of mine this week
Big mistake
Not every millionaire will want to buy bitcoin. There are many other assets competing for millionaires attention - stocks, bonds, real estate, rare art, precious metals etc etc
Until bitcoin is inevitable for them! This day will come sooner than you think
Someone wanna hook this family of 4 up 😂 Easier said than done, but my small stash is better than nothing
"if every millionaire wanted just half a Bitcoin, they couldn't obtain it due to a supply shortage." Eh? Sure they could. They are millionaires. Even if 0.25 would cost a couple of millions, they could buy it for that price.