Newbie to bitcoin here.
I started stacking in March once I determined bitcoin was no longer a risk, it was a sure thing.
What made me switch tune was the US creating a reserve and finding MicroStrategy.
However, I'm concerned about the end game.
Here it is, let me know how dumb I am.
Bitcoin dominates --> Regular John sees writing on the wall as fiat currency crashes --> Bitcoin is too scare and pricey to get any amount equal to the dollars they've saved --> large companies, governments, and early adopters become hyper wealthy --> major wealth gap and misery for most of the world except us --> sad state
Bitcoin is not much different from gold or the S&P 500. People will convert fiat money into Bitcoin to protect themselves from inflation. Just like the S&P 500 or gold increase in value, Bitcoin will also rise, because fiat money has no bottom. This means Bitcoin won’t have an upper limit a top.
But unlike other things that can protect you from inflation, Bitcoin is globally accessible. Someone living and working in Africa cannot buy the S&P 500, which is true for most of the world. They also can’t hold gold easily because it’s hard to store.
If someone in a poor African country earns 5 dollars a day, they can set aside 1 dollar and buy 900 satoshis at today’s value.
For the first time, poor people around the world can save and have money that they can truly preserve.
Will some people become richer? Probably, yes.
But everyone has had the opportunity to convert fiat into Bitcoin or mine Bitcoin.
Here is a great text that talks about the fair distribution of Bitcoin
Is Bitcoin’s Distribution Fair?
https://armantheparman.com/fair/