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40 Comments
Source: https://x.com/Vivek4real_/status/1871154501840667128
BTC hopium been around since the very beginning
The amount of hopium we get during bear winters is insane.
We should mine hopium.
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I’ve seen some hopium in my time, but this is a new level…
Imagine…
Thanks for that mega hit OP.
I am bullish on BTC, but I don’t see this happening. Countries may get bitcoin reserves and BTC may go up in value to $1 million or more in the long-term. However, BTC’s value is unlikely to approach the levels of total wealth in the world (which today is north of 500 trillion unlike the 2009 numbers).
Governments may get a bitcoin strategic reserve, but they benefit from having their own currencies and I don’t see that changing in our lifetimes. At least not for major economic powers.
Its good to aim high but it is not affordable for all of us.
Super sad Hal didn’t make it, but we will hopefully witness an ever increasing BTC value
If it’s the dominant payment platform. Nobody is buying anything with bitcoin. It’s all just speculative trading.
Yea that’s gonna take a while
Total global wealth and estimated material worth exceeeds these numbers and is over a quadrillion usd
Ridiculous…
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RIP Hal Finney, he will never be forgotten.
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Just a tiny little $200T market cap
He invented the hopium
Would be nice if it would stop dumping lol
21 million*
Maybe in 2030?
He said imagine, he never ‘predicted’
Hal Finney will always be remembered
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There is quite a difference between a prediction and an amusing thought experiment.
He didn’t predicted BlackRock
poor’s people hopium
Even with these math-based predictions, I don’t see it going to $10M.
You can have a checking account in any one of ten different large banks. You can use a Visa or Mastercard…
A $10M bitcoin is calculated in a world where there are no other crypto coins, and the entire world has converted over to bitcoin.
I can see it doubling after the upcoming regulations are instituted, and soon, someone will figure out how to integrate crypto into a card that can be used at credit card scanners for actual daily purchases. When that happens it could maybe triple wthin a year?
Why keep your retirement IRA in US dollars when it can be converted to any one of the top-ten cryptos?
In a few years, I can see it going to $500K, but also what about Ethereum, Cardano, etc, etc…
People will diversify to reduce portfolio fluctuations.
Maybe get to one million first
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It was a thought experiment…
Yeah if it becomes the Dominant payment system…. That will never happen
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Hal Finney was from the future.
If it becomes the dominate world payment system which it has proven not to be
It wasn’t a prediction though
No one knows what the future holds. Was this statement hopium? Probably, especially in 2009. But is a 7-figure BTC likely? I think so.
Consider the fundamentals of Bitcoin:
– Limited supply
– Virtually unlimited divisibility
– Easily transferable and much quicker than bank EFTs
– Decentralized transaction validation
– Permanent, immutable transaction histories
– Potential for corrections or modifications to the system through consensus
– And on and on
Bitcoin is literally the soundest currency in history.
I don’t personally see BTC becoming the “dominant payment system of the world,” but I see it playing a major role in the global financial system. If the US, for example, really does buy 1 million BTC (which I honestly think is a long shot), that’s it. No one will be able to rationally argue that Bitcoin is anything other than a legitimate asset class. The fact that it’s even being _considered_ speaks volumes.
We live in an increasingly digital world. The idea of virtual currency being anything other than a scam was inconceivable just 15-20 years ago. But now most people never use cash. They work, get paid via direct deposit, and pay with cards. Our money is all numbers on screens. Most people under the age of 30 even have the mentality that things that they pay for in physical cash is “free” because it doesn’t affect their checking account balance. The opposite is/was true for older generations.
I sincerely believe that owning just 1 BTC could be generational wealth for my kids or grandkids.
Am I going to bet the proverbial farm on it (e.g., taking out a second mortgage)? No.
Am I going to sacrifice my more “traditional” investments (index funds in my 401k and Roth IRA)? Also no.
But am I going to regularly and consistently buy BTC and stack sats? Absolutely.
I put as much money as I’m willing to lose into BTC. I think the potential upside far outweighs the risk.
BTC is no longer some wild, fringe speculative asset. It’s no longer “going mainstream,” it _is_ mainstream. People are holding BTC ETFs in their retirement accounts. Major financial institutions are buying BTC. The US government is considering buying up almost 5% of the total BTC supply.
It goes back to that idea that “You’ll buy BTC at the price you deserve.”
On one side there’s hopium: People trying to retroactively justify that they aren’t wasting their money on BTC.
On the other side, there’s copium: People trying to justify why they _didn’t_ buy BTC at a much lower price when they had a chance.
I’ll be on team hopium 8 days out of the week.
Btc is way too fucking slow to be a global payment system and reserve.
Bitcoin is great, but it’s original purpose has changed greatly.
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*Quantum computation enters the chat*