I was the semi normal dude who sold pretty much everything for crypto-some too early. Home equity, investments, etc. Pretty much all in.
I believed that there was a 40% chance I was going to be right. I still put these estimates at 50-60%. I think a big reason I did this was that I felt that things like bitcoin, Austrian economics, etc, are good things for the human species. I also had, at that time these decisions were made, zero dependents-were I to blow up, I was blowing up only me. There were no kids to feed, roof to put over someone else’s head, etc.
I would at most put the odds at 50/50. When a friend asked me, I was clear that this was a bet with risk. At the time I started, the big fear was “the government could ban bitcoin”. It feels like I lived through 40 years of investing in 4 years.
As I went down the rabbit hole, I started to believe many of my ideas were wrong, specifically about the dollar-I thought the dollar would collapse, but long term I see the DXY appreciating.
However, I have seen multiple things feared by both people inside crypto, outside crypto, and “visitors” be proven false. I still remember when the idea was that GenSler would win and all non btc would be considered securities. Also, the idea that btc was super correlated to interest rates doesn’t seem to be true.
I came around to the idea that the debasement of currency pretty much has to happen, that without this continued process there are HUGE societal issues at stake. I also came to the belief the government is not stupid, they are well aware of what is going on, and simply buying time.
If I am right, the US Bank balance sheet is going to around 12 trillion by 2026. This means all assets go up. This also means that non hard asset holders are really getting screwed.
From an American perspective, are we close to a civil war? Just give this at thought here. how many people do you know that because they didn’t own assets such as stocks or a home -home being crucial here-went from upper middle class to lower middle class, and how many just went to poor? I think the amount who own crypto is very very small. Even those who own crypto rarely have it be such a big part of their net worth.
Let’s imagine 1/3 of the amount of people get removed from the middle class if this happens again.
Is the US far away from the middle class snapping?
Or do most people only care about their cell phone and getting drunk and eating fast food?
submitted by /u/Tryingtodoit23
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