Seriously though.

Why is everyone losing their shit over Bitcoin crashing more?
You know what I'm going to do if Bitcoin crashes to $3k?
Buy a Bitcoin.

Duh.

And anyone who doesn't want the price of Bitcoin to crash like this is overextended and took way too big of a risk. Simple as that.

Number of people in the world that can own 1 BTC:

You know, I get it, it's hard to justify buying BTC at this price when you can look back and remember when it was trading for under a dollar. However, that mindset completely ignores how far not only Bitcoin network has come, but also how unsustainable the current economy has devolved.

Definitively, less than 5M people can own a Bitcoin in the entire world.

Investors with 1,000 to 1 million bitcoins, often referred to as whales, hold 42.1% of all bitcoin supply, up from 37.9% during the height of the speculative bubble two years ago, according data from researcher Coin Metrics. _{Dec 12, 2019}

Only 2.5M wallets hold 0.1 to 10 BTC. How many of those wallets are controlled by the same person? Logistically, the MAXIMUM number of unique individuals that could possibly own a Bitcoin is somewhere around the 1M-5M level. With 7 BILLION people on the planet, that immediately puts anyone that owns a full Bitcoin into the top 0.01% (1% of the 1%) at the very minimum.

This is really a matter of faith.

Not so much the faith that Bitcoin will perform well and prove itself, as much as the current system will implode and all fiat currencies will fail and fall subject to hyperinflation.

The currency wars are coming!

And it's not just fiat currency (central banks) that are fighting each other these days. Tech companies are realizing that blockchain allows them to have their own currency just like a central bank or country would. The only problem is that they need to find an opening into the market. Central banks currently control all corners of the market.

It's time to forge a new corner.

Do we really think that Facebook Libra is the only project in the works when it comes to corporate currency? Of course not! Zuckerturd was simply the fool who stepped forward and announced what he was doing, thinking he might get the greenlight from the powers that be. He didn't.

Why did Amazon show zero interest in Libra? Ditto with Tesla? Why does Elon Musk jokingly refer to DogeCoin as the best crypto? They are obviously working on secret projects and waiting for an opportune moment to strike.

The interesting thing here will be to see which corporations compete the hardest and give up the most control of their project in order to become censorship resistant, borderless, and impervious to regulation. As corporations try to trick their clients into thinking that what they offer is a good deal, they'll also know that the currencies of other corporations are just as full of shit as they are.

Even with a 10% premine, Bitcoin is considered a commodity and not a security.

This puts Bitcoin in a place where it isn't used by the people to escape oppressive central banking, but instead incentivizes tech companies themselves to load up on Bitcoin in the face of collapsing fiat currency and the absolute rise of corporatocracy.

Corporations will load up on Bitcoin

All the while pushing their shitcoins onto anyone who trusts them. Although, to be fair, whatever the corporations push onto the market is going to be a lot better than central banking digital currencies. CBDCs already exist; it's called fiat currency.

Does this sound bullish?

The complete bastardization of Bitcoin? Sure, maybe from a purchasing power perspective, but the entire point of Bitcoin will be manipulated from power decentralization to serving corporate interest and recentralizing power to tech companies.

To be fair, it will succeed in decentralization a big way by gutting central banking, but the likelihood of a strong corporate rulership becomes stronger than ever. I can almost guarantee that when Bitcoin goes mainstream transaction fees will hold higher than $50+ and only be used by the elite. You aint gonna be buying coffee with it unless it's on the second layer. Add to that the fact the ISPs and the government have the power to steal Bitcoin from their own citizens, and we have a real problem.

It requires catastrophic collapse of the system.

None of this is going to happen until more fiat currencies start hyperinflating. It used to be that the housing market was a safe haven. That is no longer the case. Andreas Antonopolous has even spoken about how his parents bought a new washing machine and never used it to retain value. In some parts of the world, even buying a car can be used to offset hyperinflation. Apparently toilet paper retains its value as well.

Things like washing machines and cars automatically lose like half their value by the time they're resold. This is the level of hyperinflation that people in America have never had to deal with as their currency has been the world reserve currency their entire lives. How much longer will the PetroDollar reign supreme?

When comparing the economic risk of Bitcoin vs housing, cars, washing machines, and toilet paper, it becomes obvious that Bitcoin is the obvious hedge to acquire during current and subsequent economic crises. It is superior to all other assets in every way (except perhaps precious metals).

Conclusion

I'm done rambling. Bitcoin good, fiat bad. Preaching to the choir.

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