Soon, everybody will be a millionaire in Dollars, not that they are going to like it, though.
the reputation of the term “millionaire” as we know it is rapidly declining. you can see the difference even if you watch movies and tv series made in the late 20th century. if you watch anything related to drugs, the mafia, or money from that time, you will understand how significant it was to be a “millionaire.”
every day, thousands of new people become dollar millionaires worldwide. while some increase is natural due to population growth, the proportion of millionaires in the total population is also quite high.
perhaps in the future, we'll refer to them as “bit-ionaires” instead of millionaires. maybe that is what we are going to tell a person who has more than a million satoshis, or the ones with a whole bitcoin. whole coiner sounds good.
hmm when i was a kid there was a tv show.
https://en.wikipedia.org/wiki/The_Millionaire_(TV_series)
it ran from 1955 to 1960.
my dad was earning about 10,000 a year in 1966. so a million was 100 years pay.
if I had a hundred years pay right now it would be over 10 million but under 20 million.
So for me a million usd is 10 to 20 times worse than when I was a kid.
my first home was 25k my parents and grand parents purchased it for 26k in 1955
that house is now 1,300,000 about 50x the price they paid.
If you had only bought a house with your father's 19 years of income at the current dollar value, you would be a millionaire in dollars today. That is, the value of this million dollars of someone who has a million dollars now is equal to the value of your father's 19 years of income at your father's time. Again, if you also save only 19 years of income from your current income in property or Bitcoin, then your children and grandchildren may someday receive this money as 100-150 million dollars.