This Will Probably Be the Easiest Time To Get Rich. Will You Be Wealthy?
This time is not like other times, but it is exactly like other times.
We are going to see bitcoins' dominance fade, and then ETH climbs higher, and then alt season. Except, this time, with much more investor money as well as retail money.
The blow off top may be a huge finale, a real finale.
The problem is, do you sell just before the top? What if, at the time you feel it would be a good time to sell, the dollar is crashing harder than bitcoin perceived pullback?
And to make matters more tricky, a bazillion stable-dollar coins are going to be minted.
But, more importantly, are you the type of person that will allow themselves to be wealthy? Or, are you the type that will give all your money away/back like 99% of lottery winners?
When does bitcoin become unobtainium?
In the future, bitcoin will be used to settle debts between large corporations and between govern-cements. It will be the big-boys money. It also may be the world reserve currency, or the thing that everything is priced in.
But, before then, it will be the #1 asset that "money" flees into. During that time, bitcoin will go from solid hands to diamond hands to diamonder hands. At some point, people will not sell bitcoin for any fiat dollar amount. (bitcoin go up, dollar go down, AND bitcoin go up faster than everything else) At that point we will not know what the value of bitcoin is.
We will hear of deals made for bitcoin. Trading a yacht, or a mansion for one. Swapping of supercars for a fraction of a bitcoin. But, there will be no exchange price for bitcoin.
Later, we will see the actual bitcoin economy start. People working for bitcoin and such. Businesses paying for raw materials in bitcoin. But this will probably be after most of the big folks stop dealing with fiat. The dollar may still exist, but it is irrelevant.
What is life changing money for you?
So many people have been talking about becoming bitcoin millionaires. Of buying Lambos, and becoming part of the 1%.
Do you want or need that?
Well, the idea of becoming a millionaire used to be something, now it is the amount most people need in a retirement account to retire these days. However, if you had one bitcoin right now, you will be a millionaire maybe as soon as the end of 2025 and no further away then the next halving. And soon after that, it might be one billion.
Imagine a world where 30,000 satoshis will buy you groceries for the rest of your life.
A world where micro-sats and pico-sats are a thing, a wealth meaningful thing.
You may just need to hold onto your faucet savings until the bitcoinization happens and then you are set for life.
If you just want a simple life, any amount of bitcoin will probably set you up for that.
Keep Your Cryptos Secure
As bitcoin continues to climb in price and importance, more people will be trying to krack people's computers to get at their wallets.
Many people had a thousand bitcoin back in the day, when all they could do was buy Angora socks with them. And many people lost them because they didn't keep the seed phrases secure. Old compys die, hard drives thrown away. Now, 1000 bitcoin is a ridiculous amount of money to have in one place.
Just because you only have a million satoshis is no reason to not secure it properly. It will be life changing wealth soon.
So find out about hardware wallets. Or work out how to make paper wallets on a compy that has never touched the internet.
Titanium plates and letter stamps are the tops, but stainless steel is almost as good. And a stack of plain steel washers is better than most people have.
If you do not advertise that you are a bitcoin millionaire, the most likely loss scenario is your compy stops working. Do you have your seed phrase written down somewhere? The next most likely scenario is house loss due to fire or storm. Will you seed phrase survive that? Is your seed phrase easy to transport if you have to move quickly?
This is your future, put enough effort into preserving it.
When you are finally crypto rich, will you go hog wild and buy everything you feel that rich people should have? Or will you quietly buy a homestead and just, silently retire?
Will you let all of your family and friends know you are crypto rich? You know, this is what usually wipes out most lottery winners. Their friends and family ask for a little bit. Could you help out with …? I just need a little… I have always wanted to start my own restaurant… The nagging never stops, and often makes lottery winners really unhappy/depressed.
A million dollars is not much anymore, however, it is enough to retire on today. Especially if you do not need the fancy house and cars.
It is a very good thought exercise to think about what you would do if you had a million dollars today. What will actually make you happy? Do you want to drive around in a fancy car to show all your friends and … make them envious? Not many people can be happy for you when you do better then them.
That said, many people have had dreams of getting a certain car, and satisfying that dream may be a really great thing to do. Or, letting that dream go because you won't be able to drive your fancy car around on broken streets with angry mobs of starving people glaring at you.
Think things out before it becomes reality. Then you will know what to do when you are crypto-rich!