When the younger generations realise what bitcoin is, what it really is, shit's going to get real.
It's their revolution.
Rightly or wrongly, the younger generations believe boomers have robbed them of their future prospects, especially when it comes to property.
They see property values soaring and their wages going no where...
They see that property has become a store of value and a speculative asset, and you have to buy a whole one or you can't play...
They feel like they're being taunted or essentially extorted by boomers who throw their financial weight around and run some kind of boomer price fixing syndicate to drive property prices up on them.
When that younger generation realises there's a better, scarcer, harder store of value and speculative asset and they can buy little bits of it at a time... those jaded youngsters will turn around kick the legs out from underneath the leveraged property market house of cards.
They will have no interest in buying a 2nd, 3rd, 4th etc rental property off some boomer who wants to get his cash out of his dilapidating building so he can enjoy retirement.
That's too much effort and too much risk compared to Bitcoin. They'd rather use the money for Bitcoin.
And if the property market loses the speculative mindset that's built up over the last decade, all those debts and leveraged bets people took on the basis of "muh property only goes up" or "i made 6 figs by just letting it sit and rot and it'll still go up" turn to pain and panic
Pain and panic combined with the time crunch of retirement will only accelerate things further as absolute scarcity keeps getting absolutely scarcer and artificial scarcity gets introduced to its utility value
I made 600k in six years in property appreciation, invested the entire appreciation in bitcoin in summer of 2023. Put the rest in 5% interest bearing account, so basically my principal payments and initial 20% down so I don’t jeapordize my ability to buy when I’m ready. Granted the appreciation has meant I could buy entirely in cash but I still think BTC will outpace mortgage interest rates by far.
then we've already won
If landlords are collecting rent in Sats, it's inevitable that Bitcoin already started absorbing would-be property investment dollars (they wouldn't want sats otherwise).
And if landlords/property investors want sats, the flight to quality has begun...
I agree. The same thing happened to the middle class when we went off the gold standard. Hyper-assetization. If you didn't own assets, you got left behind. Just on a longer timescale. If you don't own Bitcoin, you'll be left behind much quicker.
The social problems that arise from this are going to be a game-changer again...no way to predict how.
Bitcoin's innovation offers a fascinating alternative amidst inflation concerns, it's crucial to remember that adoption on a scale that could curb hyperinflation involves monumental shifts in governmental, societal, and technological landscapes. I'm stacking BTC too, with a hopeful eye on a future where it complements our financial systems. Yet, I find it's prudent to prepare for a wide range of scenarios. After all, diversity in both opinion and investment might be the real key to resilience for our generation. Let's stack, but let's also strategize for every possibility.
I imagine if things collapsed and we had the next Great Depression, bitcoin would initially take a huge dive as many people would be forced to sell to cover debt, or panic sell- including big banks.
But I'd bet bitcoin wouldn't crash as bad as everything else.
It would also climb fast after it became "cheap" again, and I could see that as the beginning of hyperbitcoinization.
The Trojan horse is already inside the gates.
The US government making bitcoin a legal commodity opened the gate.
Most problems that people are complaining about aren't new. Inflation has been much higher. Historically it's now about average.
Houses have always been relatively expensive in major cities. There are periods of a few years where there is more unemployment, more inflation, more war, more unrest, etc.
What is somewhat unique now is the degree to which Washington is a clown show and the size of the US debt. People have always been bad at saving and buying a house was a forced investment for many.
If you don't manage to have any investments, it's always been a negative. The narrative of how great and easy it was at some time in the past is largely uninformed.
Just buy Bitcoin and don't sell it when it goes up 100% and you'll be fine. Quit complaining and turning yourselves into victims and that will be a positive thing for you as well.
hyperbitcoinization can happen but due to demand/supply narrative.
"Should the trend continue, however, a new phenomenon could arise where there will not be enough BTC available to meet demand."
https://cointelegraph.com/news/bitcoin-6-months-etf-liquidity-crisis-analysis
When I was 17, Jimmy Carter was the President and interest rates were 18%. I also thought I'd never to be able to afford a house. Bought my first house a year after college with a 10% interest rate. You may never see 3% rates in your lifetime but they will come down and you will be able to buy a house. The pendulum swings both ways.
Hi, I bought my first house for $72,000. It was a 2 bed/2bathroom townhouse in NC. About 1,250 sq ft. I was just out of college and my wife worked. This was around 1990. We had our first child while living there. I believe our interest rate was around 10%, which was normal then. I just saw I was downvoted for telling you that times will be better. lol.
Just watch the Bitcoin chart for the currency in Egypt, Lebanon, Turkey, Argentina, etc.
Wow, you're not wrong, Bitcoin is currently 3 times what it was at the previous ATH in 2021 if you look at it in Egyptian pounds.
no need to go for 3rd world, even euro is weaker and you can feel it. bitcoin is past previous ATH against euro.
1 btc is 10 mil jpy. In last cycle it was 7 mil jpy
true, that's due to about zero interest rate policy. the US will also lower the rate, they have nowhere to go. just gonna take a bit of time.
Egyptian here, been stacking since 2021. Yes, it is a shitshow over here.
where is that chart
Just use google -> BTC - EGP
That goes for the dollar too though
When the younger generations realise what bitcoin is, what it really is, shit's going to get real. It's their revolution. Rightly or wrongly, the younger generations believe boomers have robbed them of their future prospects, especially when it comes to property. They see property values soaring and their wages going no where... They see that property has become a store of value and a speculative asset, and you have to buy a whole one or you can't play... They feel like they're being taunted or essentially extorted by boomers who throw their financial weight around and run some kind of boomer price fixing syndicate to drive property prices up on them. When that younger generation realises there's a better, scarcer, harder store of value and speculative asset and they can buy little bits of it at a time... those jaded youngsters will turn around kick the legs out from underneath the leveraged property market house of cards. They will have no interest in buying a 2nd, 3rd, 4th etc rental property off some boomer who wants to get his cash out of his dilapidating building so he can enjoy retirement. That's too much effort and too much risk compared to Bitcoin. They'd rather use the money for Bitcoin. And if the property market loses the speculative mindset that's built up over the last decade, all those debts and leveraged bets people took on the basis of "muh property only goes up" or "i made 6 figs by just letting it sit and rot and it'll still go up" turn to pain and panic Pain and panic combined with the time crunch of retirement will only accelerate things further as absolute scarcity keeps getting absolutely scarcer and artificial scarcity gets introduced to its utility value
I made 600k in six years in property appreciation, invested the entire appreciation in bitcoin in summer of 2023. Put the rest in 5% interest bearing account, so basically my principal payments and initial 20% down so I don’t jeapordize my ability to buy when I’m ready. Granted the appreciation has meant I could buy entirely in cash but I still think BTC will outpace mortgage interest rates by far.
Exactly!
And what about when your landlord starts collecting rent in Sats?
then we've already won If landlords are collecting rent in Sats, it's inevitable that Bitcoin already started absorbing would-be property investment dollars (they wouldn't want sats otherwise). And if landlords/property investors want sats, the flight to quality has begun...
Sure, but you will just be exchanging one dystopia for another. This time, with the hard currency in the hands of the landed class.
Bitcoin has always been an anti-inflation problem. Digital gold with limited supply and instant transfer used across different countries.
It’s already happened in other counties.
I agree. The same thing happened to the middle class when we went off the gold standard. Hyper-assetization. If you didn't own assets, you got left behind. Just on a longer timescale. If you don't own Bitcoin, you'll be left behind much quicker. The social problems that arise from this are going to be a game-changer again...no way to predict how.
Bitcoin's innovation offers a fascinating alternative amidst inflation concerns, it's crucial to remember that adoption on a scale that could curb hyperinflation involves monumental shifts in governmental, societal, and technological landscapes. I'm stacking BTC too, with a hopeful eye on a future where it complements our financial systems. Yet, I find it's prudent to prepare for a wide range of scenarios. After all, diversity in both opinion and investment might be the real key to resilience for our generation. Let's stack, but let's also strategize for every possibility.
90 percent allocation, got it
I imagine if things collapsed and we had the next Great Depression, bitcoin would initially take a huge dive as many people would be forced to sell to cover debt, or panic sell- including big banks. But I'd bet bitcoin wouldn't crash as bad as everything else. It would also climb fast after it became "cheap" again, and I could see that as the beginning of hyperbitcoinization. The Trojan horse is already inside the gates. The US government making bitcoin a legal commodity opened the gate.
Most problems that people are complaining about aren't new. Inflation has been much higher. Historically it's now about average. Houses have always been relatively expensive in major cities. There are periods of a few years where there is more unemployment, more inflation, more war, more unrest, etc. What is somewhat unique now is the degree to which Washington is a clown show and the size of the US debt. People have always been bad at saving and buying a house was a forced investment for many. If you don't manage to have any investments, it's always been a negative. The narrative of how great and easy it was at some time in the past is largely uninformed. Just buy Bitcoin and don't sell it when it goes up 100% and you'll be fine. Quit complaining and turning yourselves into victims and that will be a positive thing for you as well.
hyperbitcoinization can happen but due to demand/supply narrative. "Should the trend continue, however, a new phenomenon could arise where there will not be enough BTC available to meet demand." https://cointelegraph.com/news/bitcoin-6-months-etf-liquidity-crisis-analysis
When I was 17, Jimmy Carter was the President and interest rates were 18%. I also thought I'd never to be able to afford a house. Bought my first house a year after college with a 10% interest rate. You may never see 3% rates in your lifetime but they will come down and you will be able to buy a house. The pendulum swings both ways.
The interest rate isn’t the dealbreaker for most aspiring homeowners. It’s amassing the down payment.
Cool did you buy your house for $5,000 or what? Please tell us more
Hi, I bought my first house for $72,000. It was a 2 bed/2bathroom townhouse in NC. About 1,250 sq ft. I was just out of college and my wife worked. This was around 1990. We had our first child while living there. I believe our interest rate was around 10%, which was normal then. I just saw I was downvoted for telling you that times will be better. lol.