Is Bitcoin Going To the Moon???
We have waited soooo long for bitcoin's moon shot.
We have waited soooo long, asking, "When Lambo?"
Now, i am getting more certain that neither will happen.
Because, we are at the end of the dollar. We are at the end of good, paved roads.
We are at the end of "Wow, that Lambo is sooo coool", and at the beginning of, "Those rich people, having enough money to waste on a fancy car, while i can't afford food, i hate them"
And, what is the price of bitcoin when no one will exchange it for dollars?
This is not about bitcoin dying
We are looking at dollars' death. We are facing the Euro's collapse.
If the dollar is dead, what is the price of bitcoin?
If Trump replaces the FRNs with a new, basket of commodities backed "dollar", that is set equal to 100 FRNs, then what is the price of bitcoin? Will, we again say that bitcoin just hit $1000?
Probably not, because bitcoin going over one million will be one of the triggers, or the effects of the dollar dying. (we may argue for years about which caused what)
People borrowing against bitcoin
This is a BIG talking point right now. People saying that they will borrow against bitcoin, and thus, never spend their bitcoin. But this only works while we can print money. We need fractional reserve lending to be able to create these loans; making money out of thin air.
Because, if we made bitcoin loans, we cannot create bitcoin to pay the interest. (Which means there can be no usury. No interest charged on loans of bitcoin, payable in bitcoin..)
The people who are thinking about borrowing against bitcoin, are not adding into their plans, that bitcoin going higher in price will also be tied to the financial reset. So, by the time they figure they can start lending on bitcoin, is the same amount of time before we see big financial problems.
So, instead of getting loans on their bitcoin, their employees will start demanding pay in bitcoin.
Bitcoin goes unobtainium
Or is this just a fancy word for people not accepting fiat for bitcoin?
As things break down, we will see a lot of corporations settling debts cross-border with bitcoin. And this will keep goods moving as everyone panics about fiat currency collapses.
But, it also make bitcoin really, really valuable.
Bitcoin might not see adoption by the common people. Before they got off of their butts, the big players have been buying up bitcoin, and they will be using it. Govern-cement to govern-cement trade settlements. Large corporation to large corporations payments.
Bitcoin will soon not be sold for paper fiat. Instead we will see people buying houses, yachts, farm land. And soon after mansions, super yachts and anything else they want.
Our only indication of bitcoin's price will be, what someone rumoured sold something for so much bitcoin.
It is strange, that we waited all this time for bitcoin to go to the moon, or buy that Lambo. And now that we are close to that line, we will drastically overshoot it. And buying a Lambo will be seen as a waste of bitcoin.
Of course, the price of bitcoin will become fixed… err, the price of everything else will be fixed in bitcoin. Bitcoin will become the thing that everything is priced in. Even if we use Litecoin or Doge. or maybe even Trump Bucks (or new dollars)
The only problem is that we have no clue how fast it will come. All of use have been waiting for bitcoin to gain adoption. And, all we have really seen is Microstrategies buy more than we thought possible, and bitcoin ETFs.
It really may be that bitcoin is already adopted by the rich. And, if so, we will not see its adoption from the bottom up, but instead from the top down.
Fortunately, we will probably see people demand to be paid in bitcoin, or else no workie.
What a weird future if this is all true.