So let me get this straight.
Even people holding millions of dollars worth of bitcoin, will see their bitcoins trapped because transaction fees will be worth millions of dollars? What fees are we talking about by 2030? (at supposedly around $500k price)
And how do we know when we start losing money (aka when is the time to dump?)
You say now is too early because the price will go higher and the fees will still be affordable.
How does one calculate when you start losing money in relation to the amount of BTC you are holding, the price, and the fees so you know the ideal time to dump?
Is rpietila also part of that group? what will happen to him? he seemed like a cool guy.
You paint a scary picture where there is an Illuminati elite of BTC holders. I am just a hard working poor guy hustling for BTCs, made a decent portfolio (not even yet 21 BTC group) and you are saying these guys will make my wealth useless because the fee will be so high by 2030 that even if you are holding something decent like 10-20 BTC, your wealth will be stuck, so you are forced to eventually sell before the fee is higher than your wealth. This is just nuts man, what the fuck? Fucking billionaires. Fuck all of you!! I only wanted to make a couple million dollars from my hard working and hustling and long term vision to hodl BTC and retire peacefully and now I will get fucked by insane fees. Fuck this trash, fuck their group, pussies. I was excited to see BTC at 6 figures in 10 years, but I will not be part of it even if i have 10 million worth of BTC because fees will be higher than 10 million BTC? this is insane. When the fuck do I dump this garbage? im too pissed, im going to the gym.
I'm sure it'll be fine. I wouldn't worry too much. We're on the front lines of this whole shift and as investors/speculators we need to be! IMO we need to be preparing for when we want to cash some out to lock in gains and/or diversify. Are you familiar with Doug Casey, Simon Black, etc.? Investigate their PT (permanent traveller, multiple flags philosophies. Essentially, living in one country, holding citizenship(s) in another with low or zero tax on non-residents, and thirdly, have assets (offshore account, real estate, etc) in another jurisdiction. The idea is diversifying your life between multiple jurisdictions. Typically tourists are treated better than citizens (they aren't tax livestock!).
Personally, I can see cryptos becoming the new offshore accounts. Will it not be possible in 10 years to be have diversified a significant amount into something like Monero, ZCash or some other fully anonymous coin? I can't see how the anonymous coins wouldn't be insanely valuable if/when governments start cracking down on crypto holders. Maybe @iamnotback has some thoughts on this?