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1961 sats \ 1 reply \ @kepford 12 Sep 2023 \ on: What do you think the next 5 years of bitcoin will look like? bitcoin
As others have said I hope for a gradual adoption of the masses coupled with steady improvement in the tools around bitcoin. I hope for increased privacy and simplicity of tools. Ideally privacy should be easier than it is today. I hope the average person has bitcoin and has self custody of it.
I fear we will see the US and the tradfi world "sanitize it" and people only use paper bitcoin. I fear that everyone that adopts it will be KYC'd and owned by the state.
I think we'll see games using bitcoin. Up and coming games that don't yet exist. Game where bitcoin makes sense. I think we will see more of what we are seeing now. Content creators using bitcoin to support their work. Peer to peer value for value.
This one is harder for me but honestly I think a big area is the idea that bitcoin will lead to an anarcho-capitalist utopia. I just don't see that. I do think we will see positive moves away from state power but that vision will probably take centuries if it every happens. I say this as someone sympathetic to that vision.
Others are that real estate is a waste of time as are stocks. I think both of these are highly pumped up by the fiat system but with a non-fiat currency they will return to their place of utility. We still need land. Rental property will continue to be a profitable endeavor as well publicly traded companies. It will just be different. Where I think they are right is that over the next 20 years bitcoin will outperform.
I think the mistake a lot of loud voices make about real estate and stocks is that they are looking at all things static but bitcoin. By that I mean that bitcoin will change the incentives of course but real estate and stocks will adapt because they have utility. Companies will always need capital they do not have. People will always need a place to live. How real estate functions as a market will change and I don't think anyone knows what it will be like. I do think they are right that it will not be as it is today. I agree that the idea of property being a place to park wealth will drastically change. But, we need to remember that even under hard currencies land had value and was a way of transferring wealth over time. The state is the main reason this isn't as feasible now. Bitcoin will affect the state and how it responds will greatly determine the way real estate is changed.
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