Sounds like a brag post but I actually mean it. I've through about getting out of bitcoin a little because I don't think I should be making this much money without actually putting any work into it.
I know that USD is dead. I know that those who transition first into whatever ultimately will be the new currency will get hugely ahead compared to those who are late. I know that whoever puts their money into whatever is the intermediate decision by the market in the meantime will also get ahead. I know this because I studied econ and heretical econ for years and can see the world through multiple perspectives and can see when those apply. (I know more about the flaws of heretical economics and mainstream economics than most).
Much of the world is going to be poorer because of this transition and mostly because of the money printing that is encouraging it that will make the banks rich. That will be the main cause of poverty, but the inequities of a currency transition aren't going to help.
The truth is that bitcoin owners aren't going to be rich compared to them (the banks). That's where the real wealth transfer is happening. Bitcoin owners are just riding a wake in that great theft. But between the banks and the people who knew how to react to the banks, the people who didn't know anything at all are going to be dirt poor and I feel bad about that. It's unfair for me to use my knowledge to have un-due amounts of wealth while everyone else is poor.
I guess the best I can do is tell white people to invest in it. The effect will be ordinal. It doesn't matter if people do it quickly or slowly. The position in line you take is what determines if the wealth transfer goes to you or someone else, so someone is losing for sure, whoever buys last. The only entire net advantage for the human race to invest in bitcoin soon is to pull the plug on the banks ability to print themselves wealth. They can print worthless trash all they want. As long as you are dumb enough to value it though they can make any amount of wealth for themselves they like, stolen from the people. This is what makes the currency transition inevitable, even with its inequities.
I guess I would suggest at least diversifying. It's not going down. It's just not. I bought at $5,000, which was the low. The absolute bottom for that period of time. If I'm able to do that I clearly understand something. This time it isn't going down. It's going to keep growing until people adopt it for payments, like they already have in Venezuela.
At least diversify. At least prep for how you are going to do business if it does become a crypto world.
Sounds like a brag post but I actually mean it. I've through about getting out of bitcoin a little because I don't think I should be making this much money without actually putting any work into it.
I know that USD is dead. I know that those who transition first into whatever ultimately will be the new currency will get hugely ahead compared to those who are late. I know that whoever puts their money into whatever is the intermediate decision by the market in the meantime will also get ahead. I know this because I studied econ and heretical econ for years and can see the world through multiple perspectives and can see when those apply. (I know more about the flaws of heretical economics and mainstream economics than most).
Much of the world is going to be poorer because of this transition and mostly because of the money printing that is encouraging it that will make the banks rich. That will be the main cause of poverty, but the inequities of a currency transition aren't going to help.
The truth is that bitcoin owners aren't going to be rich compared to them (the banks). That's where the real wealth transfer is happening. Bitcoin owners are just riding a wake in that great theft. But between the banks and the people who knew how to react to the banks, the people who didn't know anything at all are going to be dirt poor and I feel bad about that. It's unfair for me to use my knowledge to have un-due amounts of wealth while everyone else is poor.
I guess the best I can do is tell white people to invest in it. The effect will be ordinal. It doesn't matter if people do it quickly or slowly. The position in line you take is what determines if the wealth transfer goes to you or someone else, so someone is losing for sure, whoever buys last. The only entire net advantage for the human race to invest in bitcoin soon is to pull the plug on the banks ability to print themselves wealth. They can print worthless trash all they want. As long as you are dumb enough to value it though they can make any amount of wealth for themselves they like, stolen from the people. This is what makes the currency transition inevitable, even with its inequities.
I guess I would suggest at least diversifying. It's not going down. It's just not. I bought at $5,000, which was the low. The absolute bottom for that period of time. If I'm able to do that I clearly understand something. This time it isn't going down. It's going to keep growing until people adopt it for payments, like they already have in Venezuela.
At least diversify. At least prep for how you are going to do business if it does become a crypto world.
(post is archived)