My hope is that people who get into Crypto stay there. I think retiring early is a nice goal but I'm hoping that people have a mindset that bitcoin IS the future currency and not one to just invest into just to sell back into FIAT. What we really need is for McDonalds to have a little window sign bitcoin accepted here (mainstream to accept it as a payment method in other words).
I agree with you, but have a hard time seeing how this would work, at least in a capitalistic society. In such a society, it really requires a small positive inflationary adjustment every year. This is what keeps people buying things, because the price is always going up. If prices stayed the same, (or went down as in a deflation) there is no incentive to make that big purchase now, if I can get by a little while longer without it.
That said, another alt coin that does not have a hard limit, can certainly and likely will be used in the future. But if it can be mined ad nauseam, then we are right back to square 1 again.
If your prediction is right I will be very happy and nearly in a position to be able to retire :)
My hope is that people who get into Crypto stay there. I think retiring early is a nice goal but I'm hoping that people have a mindset that bitcoin IS the future currency and not one to just invest into just to sell back into FIAT. What we really need is for McDonalds to have a little window sign bitcoin accepted here (mainstream to accept it as a payment method in other words).
I agree with you, but have a hard time seeing how this would work, at least in a capitalistic society. In such a society, it really requires a small positive inflationary adjustment every year. This is what keeps people buying things, because the price is always going up. If prices stayed the same, (or went down as in a deflation) there is no incentive to make that big purchase now, if I can get by a little while longer without it.
That said, another alt coin that does not have a hard limit, can certainly and likely will be used in the future. But if it can be mined ad nauseam, then we are right back to square 1 again.
Buying a house with 10 BTC, that would be a nice purchase!
If Japan keeps expanding its store usage we will surely see 5k or higher by years end..
We all hope for that :)