Most of you are probably aware of the special situation the world is in right now. I think the next few months will show if we have bet on the right card with Bitcoin or not.
Corona has destroyed the supply chains of the globalized world and showed us how vulnerability the economy is. Countries have tried to prop up the economy with enormous amounts of money in the form of debt or money printing.
The Ukraine war and the energy crisis are now putting enormous pressure on financial markets and countries. In previous crises, such as the last one in 2008, national banks still had the possibility to defuse the situation. Now there is no room for intervention. The market is crying out for money, but inflation is already dangerously high.
The last time the monetary and debt system was put to the test, a world war broke out. We can only hope that maybe this time, with Bitcoin's help, we can find another way out.
How do you assess the current situation the world is in?
I am going to say that I consider bitcoin to merely provide more options, and it is going to take a very long time to transition though the various potentially imminently imploding systems that you are referring to, vroom.
Bitcoin will also not free us from suffering.. and there is likely going to be some geographical variance in the suffering, but there also may well be some purposeful efforts to cause suffering on people who usually do not suffer from these kinds of craziness.
There are a lot of people who are likely not really prepared for extreme negative scenarios and are continuing to hope that such extreme negative scenarios do not play out.. I am not completely removed from that.. and surely bitcoin is probably not enough.. still gotta eat and have lodging and to be free from having violence inflicted upon me.
Hearing about bitcoin, and having any clue about what to do about it or understanding it are quite different. I heard the word "bitcoin," but I have no fucking clue what it means. It has something to do with the internet. .or blah blah blah.. O.k. What good does that do?
13% is also a pretty high number of supposed "owners of bitcoin"
Worldwide we still likely have right around 1% ownership of bitcoin, and I question if current owners of bitcoin have "enough".. more than merely a token amount...something less than $200 worth... that would be less than 0.01BTC.. .. Does not sound like very much to me, even though it is a million satoshis... In the future a million satoshis will likely be a lot, but currently, it does not really seem like much.. especially since a million satoshis could be bought for around $200.
By the way, if everyone were to try to get 1 million satoshis, the BTC price would raise considerably, because everyone cannot get 1 million satoshis because there are too many current bitcoin holders who would not necessarily part with their BTC merely because the price is going up... but on an individual level, currently, it would not be very difficult to get way more than a million satoshis.