So, I've been a millionaire ever since I bought my first 1 000 000 Satoshi. Laugh it or not, you could probably imagine a future where it's worth that much in USD even though it might not be a close one. But what of it?
There was a TV game in my country when I was a child, a promotion campaign, really, which said the cap of a bottle of "insert the name a popular fizzy drink here" could make you a millionaire if its number was drawn on screen and you had the proper sum written on the underside. A whole summer of this meant that about 92 out of the 999 numbers would be drawn, one per evening. But 1 000 000 BGN back then was worth what is 1 000 BGN now. Still 1 000 Deutch Marks or about 500 Euro. Well, 25 years later, it's still a sum above the minimum wage around here but not a life changing sum, to be sure.
Would 1 000 000 USD be such? Perhaps now...but one can not know for how long. Can you imagine some USD hyperinflation scenario? Probably not the most likely thing but still one that is not far from the mind, I would think.
What I really want to say is, a Bitcoin worth 1 000 000 USD might not be such a great thing, not even for the Bitcoin owner, if that sum is significantly depreciated.
After all,
A society is rich not with money but with the goods and services affordable...
...and available.
And money's only worth its purchasing power or hiring power.
I am willing to paint another digital chalk-like scribble for you for only 3 Hive but that might not last long.
For example, in 30 minutes or so, I have to get out and do something else. Won't be available for 3 Hive, even if it took me 5 minutes, until late in the evening. No, really, you should consider my offer.
I guess you all know the wheelbarrow story of some 80-ish years ago. I guess I'll see it in the comments. Or not.
A solid store of value is good because you get suddenly poorer overnight but it does not mean it makes you richer, either. It could, if its own value increases in terms of purchasing power. And we're still witnessing Bitcoin performing well in that regard. For the current inflation is roughly, let's say about 10 % or so while Bitcoin's value is up let's say 400 % or so for the last year.
This is great now.
But let's hope the value of BTC does not increase nominally overnight at the expense of the USD alone.
Because the dude selling that Lambo might not agree to millions of worthless papers. Although a Lambo is not exactly my go for type of vehicle...I'd prefer an All Terrain Armored Transport...it's still a working machine that serves its purpose.
And I think we should think of investments that are functional in the scenarios we can imagine.
What do you imagine encouraging people to stay home and receive paychecks or going into government-dependent UBI programs would do to the economy in terms of productivity?
Let's start from here!
Yours,
Manol