If adoption ever comes… (Oh godz! Why must it take so long? Can't they see bitcoin is better than fiat? When lambo? When moon?)
At some point in the future, crypto investors, even those who just clicked on faucets, will be very wealthy. At that point, what do you do?
So many wealth building shows, investing shows, and the like, talk about having an exit strategy. Is their an exit strategy when your "investment" was your hedge? When gold goes sky high because all the fiat is hyper-inflating? When bitcoin becomes the world reserve currency… because there is nothing else left.
This is a serious question to ponder, because this is the path we are trodding, that many of us are wishing to happen.
And if this is the future that will come to pass, we must have a plan for what to do with our wealth.
Let us imagine that the bitcoin maximalists are correct. That it will be bitcoin, and all other crypto-coins are trash. (just imagine)
So, bitcoin is now the coin of the world. In this setting a million satoshis will be more than most people will get in their lives. (21 million ÷ billions of people, and take into account that most of that is not circulating bitcoin, so people will have even less)
A person's lifetime's earnings will be less than what faucets give out today.
So. there you are, your bitcoin is now worth a lot, so you should take profit... wait, there is no The US$ to trade it into, and why would you if it was still holding on for a little longer? What do you do? How would you diversify? Would diversification be meaningful after bitcoin becomes THE world currency?
You are not wealthy, how will you maintain it?
Let us imagine that litecoin will go 5:1 with bitcoin.
Imagine bitcoin is $100,000 and then, very quickly litecoin climbs from a few hundred to $20,000.
What do you do then? Do you trade your bitcoin for litecoin? Do you trade your litecoin for bitcoin?
What if Doge is beating them all? Doge is on X and everyone uses it for everything (cause X is everything platform) and now Doge is going from $100 to $1,000?
What do you do? You are probably wealthier than you thought you would ever be, but you are losing (or winning) because of which cryptos you are in.
You are WEALTHIER … why are you still focussing on which crypto to be in? (afraid bitcoin is going to zero?)
Why are you focussing on crypto? Why aren't you focussed on where wealth can improve your life?
This is a weird question because you probably won't be able to run down to your Wallymart and spend your new wealth.
Unless cryptos seamlessly replace the dollar in trade, AND nothing happens to destabilize trade between The US and China, then the same forces that bring cryptos to the top will probably also destroy what we know of as trade and shipping. Or at least seriously disrupt it for a while.
So, you will have tons of money but no place to easily spend it.
In this environment there will be all kinds of people sneaking in goods (importing) and people trading stuff they have or services for crypto.
Sure you could trade your cryptos for a Lambo, but what will you do with a Lambo? No repair parts. No replacement parts. Bad roads.
Really, what do you do? You are now one of the rich people. How do you help rebuild society? How do you restart the economy?
Many of the people on here will have Musk level money. You could build a car manufacturing company. That is the wealth you have.
You have the means to pay people in other countries for goods to be produced. To pay boat captains to move those goods. You could, almost single handedly restart trade.
I don't think things will get that bad, but there will be all kinds of problems. Shipping, mining, manufacturing, each industry will have problems and hiccups. An international currency will help to fix the breakdowns.
Most of us here will probably use our small amount of crypto to fund a homestead, or a better homestead. Growing food, showing others how to grow food. Making things ourselves. These are actually the way things will be made better.
You will probably have enough crypto to hire a few people. Maybe many people. And so can build a small community at your direction.
Have you thought about what you would do under those circumstances?
How would you make your little corner of the world better, and thus the world better?
This next run up in cryptos will probably make many people crypto-millionaires. So, start thinking of what you will do with that much capital. Not as in a wishful thinking way, but you now have tons of money, and you better start thinking the way the rich do, and learn how to put that capital to work for you.
