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Yup. We're broke. 90% of us still find Bitcoin nodes too expensive to just run. We prefer TVs. And if you can't run Bitcoin, you definitely can't run your own AI server coz it's about the same energy cost. So yeah.
I took a hunch of 10% as the high income class who never have to budget energy for food, heating, gas, air conditioning, travel anywhere, etc. They live in energy surplus.
Thus, 90% of people have to budget their energy needs carefully. They have a deficit. It's on a spectrum as some see a deficit because they can't afford plane tickets, while others have a real deficit close to life threatening e.g. not enough warm clothes.
After research, the high income class is actually 7% of people — https://www.pewresearch.org/short-reads/2021/07/21/are-you-in-the-global-middle-class-find-out-with-our-income-calculator/
SpaceX should treasure gold ingots on the moon or Mars. Not bitcoins. Buying and holding onto bitcoins does not create scarcity pressure because human beings being human beings will eventually yield to a little market red and sell.
Now put 100 tons of gold ingots on Mars and next month, red everywhere. Oops, gotta wait out a year before you cash out.
Hence, any mispriced feelings causing market panic get put aside. Back to reality. Back to low time preference.
You have little faith in humanity. Bitcoin can only be a speculative asset as much as the dollar and other fiat currencies can keep inflating. Since the US dollar and other fiat will not inflate forever but will eventually suffer a call on the debt stacked, Bitcoin will spike at that moment away from the false stagnation it suffers.
The game is playing out as it should.
Bankers will exist as Bitcoin will exist.
Bitcoin is like the ability to talk to anyone via the internet, and Fiat is like propaganda to skew our speech. As long as we keep talking, everyone will realize their mucky thinking is because of fiat and we shall slowly evolve towards a near full hyperbitcoinization state. It'll take time though.
But here's the hope, the boomers who grew up in peak fiat and are now rich because of it have about 30 years then it will be millennials who were at most 20 when Bitcoin was invented.
They'll not hardcore fiat like their parents. They know the price of thinking one can have a free lunch, a slow decay to what we have now even as comforts have 10xd.
Noooo.