I was in a discord server yesterday and people were talking about this trading range that we have been in for BTC.
I realized I'm a crypto OG because I just don't care at all.
And like I said there, I just know fiat is going to break.
By "break" I mean that will be devalued by commercial actors. So I'm sure the USD, EUR, JPY, and most of the rest of them will continue to exist.
The Fed will still be there, federal government deficits will skyrocket in nominal terms while falling in real terms, all the dictates and laws around money will still be there.
There's now competition. Crypto is that competition.
A quick word about gold.
There is no shortage of digital ink being spilled from mostly older guys talking about these same issues and how gold or silver will benefit.
Gold is weird. It was the original form of universal money. Then governments around the world pulled a bait and switch to force everyone into fiat. Now, goldbugs talk about how inflation will kill the dollar and people will go back to gold.
At first, fiat money was a money substitute for gold. Now gold is a money substitute for fiat. Like I said, gold is weird.
But there's a giant problem. Gold is a worse money substitute than fiat. Even if you have willing buyers and sellers, gold suffers from lack of liquidity because of the need for physical transport.
And if you solve that issue by having a debit card linked to an allocated gold storage account, you might as well be using fiat anyways.
Back to Crypto
Crypto does not suffer the drawbacks of gold. Sure, it has its own drawbacks but those will be solved as the market grows.
So, finally, after about 100 years, we (the people who are paying fiat inflation rather than receiving fiat inflation) have a choice. We can transact in crypto.
Over time, more and more people will understand the benefits and adopt crypto as their preferred money.
And what does that mean? That means that the purchasing power of the dollar (and other fiats) will crumble. Said another way, the market cap of crypto will rise. Bigly.
So no, I don't care what the price of BTC is. I like to see numbergoup as much as the next guy, but it doesn't actually matter.
I know it's going way, way higher.