0 sats \ 0 replies \ @dash 18 Jul 2023 \ on: If Bitcoin’s price would go up to $500k in 2 years. Would you sell? bitcoin
You're on a lifeboat. The ship you are escaping from is sinking. Someone on the ship approaches you as the lifeboat is being launched, offering to buy your seat on the lifeboat. How much would you sell it for? For me, anyone who is planning to sell bitcoin at any price for US dollars (pieces of paper) doesn't understand bitcoin and was just an NGU tourist the whole time. I'm not talking about someone buying a house or paying off debt during a bull run. I.e. they needed to make those purchases anyway and chose to do it during an advantageous market timing. I am talking about anyone who would sell bitcoin into fiat without a concrete need of that fiat. I view the USD exchange rate as a siren call that will wreck many so called bitcoiners. You can read all about people selling gold or property during the Wiemar inflation, for example. With hindsight it should have been obvious to everyone what was going on. It should be obvious to us all now that the USD hegemony is doomed. (at least, the backed-by-nothing fiat version). 1 million pieces of paper is just paper. It's all monopoly money.