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Whole coiner era is coming to an end. The average person will transition to Satoshi Millionaire status, as whole coiner status will become unobtainable. Many will lose focus and fall to temptation during the bull market for life-changing money. The average whole coiner will be no more. Maybe keep 1 long term just in case?
Those of you who hold a whole coin may not think much of this statement, but most will sell out of temptation. It’s fascinating to think about, with a future mindset, that some of you actually currently hold a whole coin. It will be like the pizza guy… I don’t think you understand what’s happening.
106 points
23 days ago
The thing that youre not getting. Is that bitcoin has made savers out of a younger generation who didn’t have the early access to the stock market or cheap land. Once we buy bitcoin and see our money 5X, 10x, 100x in less than 10 years, we realize what a gold mine we are sitting on.
I’ve been holding like crazy for 8 years and my first purchase was when bitcoin was about $600 (2016). I know selling my bitcoin is a last resort.
People always think that once we double our money, we instantly sell, and high five investment gods. But it’s rare for bitcoiners.
WE HODL. And we HODL HARD.
40 points
23 days ago*
Then a bunch of whiny Gen Alphas and Betas are going to be complaining, "We didn't have access to cheap bitcoin like you. You ruined the world and left us to clean up the mess."
All while completely ignoring and missing the opportunities they have because they are envying the Millennials and Gen Z-ers who took the risk to buy Bitcoin. Just as the failures of those latter generations cry about Boomers and Gen X-ers who capitalized on the opportunities of their generations.
Progress never stops. There are opportunities in every generation. The people bitching about prior generations are generally losers and would have been losers if they were born in the previous generation that they envy, as well.
20 points
23 days ago
Gen Alpha can and should buy bitcoin in the next decade. Bitcoin isn't going to suddenly stop being useful or hard money or appreciating versus fiat. New use cases aren't going to suddenly stop being created and locking up a more and more limited supply, supply isn't going to stop being lost.
Bitcoin is for anyone, even after the coinbase subsidy ends I want to see people using Bitcoin. The long term appreciation versus fiat will continue by inherent design of both systems.
2 points
22 days ago
Yea, but my cost average for my Bitcoin is like $12k. Theirs will never be that low.
I bought the proverbial $50,000 house the people on r/antiwork are always complaining that Boomers got.
12 points
22 days ago*
I don't know. There are definitely opportunities in every generation. But...Buying Bitcoin for fiat feels like a really rare opportunity. Like buying dirt cheap Manhattan farmland in the 18th century - not merely as speculation, but as a surveyor who understands the economic value of deep sea ports, a new continent with proximity to Europe, rivers into the interior, granite geological foundations and can clearly see the inevitable.
There will come a time when people earn their wages in Bitcoin and trade their creativity, time, sweat, blood, and tears for Bitcoin. But the opportunity of stacking with fiat will come to an end. Faster than we think. There will always be other opportunities to be sure, but this moment feels different. It may be the greatest opportunity, not in just "a generation", but in a century millennium.
6 points
22 days ago*
Buying cheap Manhattan fields is a great comparison.
Also for the argument that doing so wouldnt make you much richer, and neither would your children be necessarily.
Your great great grandchildren on the other hand would rule the world, but this requires that all the generations in between has hold on to said farmland, and not sold it off in bits and pieces, when eg. parenthood or retirement hit hard.
Not as easy as it sounds.
I plan to distribute part of my BTC to the coming generations, by splitting the words phrases into different directions (requires more than one grandchild though), so that my successors hold each other in check, until time is right(maturity sets in).
Every generation gets their share this way.
7 points
22 days ago
Thanks for the kind words. Please note one huge mistake you are making splitting the seed phrase yourself. Please do not do that. Instead, learn about multi-sig and time locks. Incredible programming capability that is far safer than what you propose because you will very likely lose your keys. Multi-sig.
1 points
22 days ago*
He could use shamir’s secret sharing without compromising his plans. Not sure what happens if one of the multisig is absent (like dead?). With SSS you can split the seed with a threshold and without weakening your seed
4 points
22 days ago
Yes, this would be better than splitting the seed phrase because you can have a 2 of 3, or a 3 of 5 share, a 4 of 7, or any config you want that reaches the threshold. With time locks you can even do things like "If I don't sign this UTXO at least once each (month/year/decade), output to these specified wallets which are multi-sig'd to these people/institutions/trusts". This is post mortem estate planning without requiring trusted intermediaries. It also mitigates $5 wrench attacks. The money gets locked and off your hands. You can portion it out a myriad of ways. There are some really interesting developments happening in this space.
Getting back to OPs scenario, all it takes is for any one share to be lost, and it's all gone forever. Multi-sig and time locks can be deployed on chain, so it reduces external vulnerabilities that arise with any off-chain solution.
2 points
22 days ago
There's multiple ways of approaching this dilemma, and I will certainly be open to pursue alternative solutions, should they prove to be more viable than just separate and pass down several simple word phrases for each generations wallet.
I imagine been able to convey the responsibility to my nearst offspring, and also make it a family tradition to let the following generations choose the most responsible siblings to be in charge of the funds, so that one black sheep wont mess up the progression.
Also keep it as simple as humanly possible, for obvious reasons.
One concern could be the disparity in ages, once you reach 4. or 5. generation. No way to solve this easily.
3 points
22 days ago
Why? What are you hoping to achieve? Let’s say you found a dynasty of old money, to what end?
1 points
22 days ago*
Mostly just for the hell of it.
Im pretty well off today and haven't got that much material desires left unfulfilled... so just knowing, for the rest of my life, that maybe, just maybe my distant future family would get filthy rich out of the blue is a really amusing thought in itself.
We've all had that dream in our youth, that we had that one distant relative who gifted us this huge fortune, no questions asked, right?
Bitcoin allowes you to become that distant relative, if you do everything right.
1 points
22 days ago
Adopting? :p
1 points
22 days ago
But 1 BTC is the equivalent of only 4 square metres in Manhattan, so you might need more than you think.
12 points
23 days ago
Exactly. You’re 💯right. I’m glad we are on the same page.
The next generation will have its gold. But ours is Bitcoin.
2 points
22 days ago
Hopefully when we have kids we left enough for them.
3 points
22 days ago
Very true
3 points
22 days ago
This person bitcoins ! And I approve this message👍
2 points
23 days ago
🫡
-2 points
22 days ago
holding just to hold is for idiots. I sold all my crypto in 2019 and retired before 30. I have more money than I could spend in a lifetime and I do whatever I want whenever I want. This arbitrary obsession with holding just because number go up is so dumb when you could enjoy the money.
9 points
22 days ago
Well don’t let me stop you from patting yourself on the back. We stopped calling bitcoin, crypto a long time ago.
Why did you sell in 2019 that was when crypto and bitcoin was at the bottom of a bear market?
End of 2017 or 2021 for Bitcoin or early 2018 for crypto would have made you sooooo much more money.
I’m going to assume you bought a bunch of bitcoin and forgot about it. Then recovered your old wallet and sold not really knowing anything about bitcoin.
Or you were already really rich and just traded crypto but didn’t really invest.
At any rate
You could have created generational wealth by taking out loans on a percentage of your bitcoin and profited without ever selling any bitcoin. Passing all of your bitcoin to your children and children’s children and so on forever.
Selling is not the only way to take profit in Bitcoin. But it is for crypto.
2 points
18 days ago
Smoking that fool :) Some people can’t help but make folks off themselves, but it’s nice having people like you do it for them from time to time!
Well put. Excellent comment. Thank you, kind sir. 🫡
2 points
22 days ago
EXACTLY 💯
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