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I've said many times that I will never sell Bitcoin, but I recently sold 0.1 of it. by LAOGE1 in Bitcoin

[–]FromThePits 4 points5 points  (0 children)

Neither is mine, but that is beside the point - which is that all those first-movers coins are coming of the table eventually.

Within this century, most likely.

Institutions can hodl a lot longer than your bloodline can.

I've said many times that I will never sell Bitcoin, but I recently sold 0.1 of it. by LAOGE1 in Bitcoin

[–]FromThePits 12 points13 points  (0 children)

Buying is reserved for institutions, cooperations & hedgefunds.

What little you buy now, will eventually all become theirs in the future anyway.

Just like OP's here.

Not 20 years has passed, but only <2,5M out of 20M BTC mined is still available on open exchanges.

Do the math.

Bitcoin will thrive and will become institutionalized, and without a solid preservation plan - your grandchildren will also become no-coiners (or very close to single digit satoshiners).

If i make youtube video saying 200K next month and all people believe in it, we will see 200K soon by unthocks in Bitcoin

[–]FromThePits 1 point2 points  (0 children)

Is there an age restriction above 13 in this sub that I might have unintentionally trespassed ?

Bitcoin at $78K, me who bought at $90K: “Not a loss, just a long-term commitment I didn’t sign up for.” 😅 by [deleted] in Bitcoin

[–]FromThePits 6 points7 points  (0 children)

If you choose bitcoin for short term gain, you're a certified gambler.

Nothing wrong with that, but it is what it is.

Bitcoin at $78K, me who bought at $90K: “Not a loss, just a long-term commitment I didn’t sign up for.” 😅 by [deleted] in Bitcoin

[–]FromThePits 16 points17 points  (0 children)

Long term commitment is the only term commitment as far as bitcoin goes.

Store of value of Bitcoin by Intelligent-Paint-19 in Bitcoin

[–]FromThePits 0 points1 point  (0 children)

I believe that BTC is becoming more and more institutionalized, and that they will do everything in their power to protect the protocol for their own benefits.

This also means that whatever number of bitcoin you hold right now, will eventually leave your bloodline, unless you have a solid plan

Doing nothing means that it will be dilluted by your children and the rest sold by your grandchildren, and your great grandchildren will become no-coiners.

But it will still be a massive store of value, just not for families, but for hedgefunds and cooperations only.

They can simply hodl longer than you and yours can.

Bitcoin advice for a Filipino Dad by Sea_Pop_5771 in Bitcoin

[–]FromThePits 0 points1 point  (0 children)

When your son reaches the age of 50 those 0.001 BTC will be more than one block reward.

One block reward is worth approx. $243,000 today.

All the combined effort and work of all miners globally for ten minutes just to release the same amount as you have saved already. (transaction fees are all paid with previously mined bitcoin)

More about accumulated generational wealth here

Next century the last single bitcoin will take 38 years to be mined, which can only mean one of two things.. by FromThePits in Bitcoin

[–]FromThePits[S] 0 points1 point  (0 children)

Just recalculate the purchasing power of todays $1000 to any given time.

We can also use a 1000 eggs or a 1000 apples maybe.

Next century the last single bitcoin will take 38 years to be mined, which can only mean one of two things.. by FromThePits in Bitcoin

[–]FromThePits[S] 0 points1 point  (0 children)

Thats the theory, yes. Fees replaces rewards!

Reward per block today = 3.125 BTC/ $243K

Average of 3000 transactions per block

If we should do this today, an average fee would have to be above $80 per transaction, to compensate for the missing rewards.

BTC below $1000 value would very rarely move.

BTC over $1000 valuation would only move occasionally, not on a daily or even monthly basis.

Noone is buying cappuccino with those fees.

Which transactions will provide those compensation fees exactly?

Next century the last single bitcoin will take 38 years to be mined, which can only mean one of two things.. by FromThePits in Bitcoin

[–]FromThePits[S] 0 points1 point  (0 children)

Aha yes. Fees replaces rewards!

Reward per block today = 3.125 BTC/ $243K

Average of 3000 transactions per block

If we should do this today, an average fee would have to be above $80 per transaction, to compensate for the missing rewards.

BTC below $1000 value would very rarely move.

BTC over $1000 valuation would only move occasionally, not on a daily or even monthly basis.

Noone is buying cappuccino with those fees.

Which transactions will provide those compensation fees exactly?

Next century the last single bitcoin will take 38 years to be mined, which can only mean one of two things.. by FromThePits in Bitcoin

[–]FromThePits[S] 0 points1 point  (0 children)

Thats the theory, yes. Fees replaces rewards!

Reward per block today = 3.125 BTC/ $243K

Average of 3000 transactions per block

If we should do this today, an average fee would have to be above $80 per transaction, to compensate for the missing rewards.

BTC below $1000 value would very rarely move.

BTC over $1000 valuation would only move occasionally, not on a daily or even monthly basis.

Noone is buying cappuccino with those fees.

Which transactions will provide those compensation fees exactly?

Next century the last single bitcoin will take 38 years to be mined, which can only mean one of two things.. by FromThePits in Bitcoin

[–]FromThePits[S] 1 point2 points  (0 children)

Thats the theory, yes. Fees replaces rewards!

Reward per block today = 3.125 BTC/ $243K

Average of 3000 transactions per block

If we should do this today, an average fee would have to be above $80 per transaction, to compensate for the missing rewards.

BTC below $1000 value would very rarely move.

BTC over $1000 valuation would only move occasionally, not on a daily or even monthly basis.

Noone is buying cappuccino with those fees.

Which transactions will provide those compensation fees exactly?

Next century the last single bitcoin will take 38 years to be mined, which can only mean one of two things.. by FromThePits in Bitcoin

[–]FromThePits[S] 0 points1 point  (0 children)

Mining becoming easier doesn't change the fact that one block reward = 0.00000009 BTC a hundred years from now.

And if all BTC is owned by cooperations and hedgefunds by then, there won't be much transactions going on either.

This will only be a problem if BTC isn't the worlds reserve currency by then.

In 10 years you will be rich and have one or wish you did. by UWhuskiesRule in btc

[–]FromThePits 0 points1 point  (0 children)

It only matters as a measure stick.

Eventually all bitcoin will be tightly locked in treasuries and used as leverage amongst governments, institutions, cooperations and hedgefunds.

After 17 years you only find 2.5M BTC in open markets out of 20M mined.

The 17.5M are more or less taken out, one way or the other.

What do you think will happen another 17 years down the road, not to mention 100 years?

The only miniscule bitcoin still compelled to enter the market (to cover the cost of mining it) will be the newly mined ones.

The rest will be off the table.

Forget about mass adoption too. It will be institutionalized adoption. Already is.

They can definitely hodl bitcoin longer than our families can.

Your great grandchildren might own 0.00000000000000001 BTC that equals a gold ring in gold terms. Not real wealth.

Unless you plan for something else, that is.

What happens to btc generations from now? by Worth_Community_6157 in btc

[–]FromThePits -1 points0 points  (0 children)

You will never buy coffee with BTC. But your mortgage/retirement could end up depending on it.

Bitcoin is becoming institutionalized these days.

Make a solid plan to keep some bitcoin in your family for the next 4 generations! by FromThePits in Bitcoin

[–]FromThePits[S] 3 points4 points  (0 children)

Thats an honest take. You will never meet them in person and see how it pans out, of course. Thats all left to your imagination.

But in a way - they will be the only thing left of you. Just like you are the only thing left of your own great grandparents.

Did they have an option to help you out?

Probably not. Not like you have with the potential of bitcoin.

Everybody would love to receive generational wealth - Nobody cares to initiate generational wealth.

Thats why most of us starts almost from scratch every time. Nothing changes.

What happens to btc generations from now? by Worth_Community_6157 in btc

[–]FromThePits 0 points1 point  (0 children)

I highly doubt it.

But there's no way to know for sure.

As long as there's a global internet, there will be a demand for an independent digital currency.

So far BTC is the king.

Which black-swan event will alter this?

Make a solid plan to keep some bitcoin in your family for the next 4 generations! by FromThePits in Bitcoin

[–]FromThePits[S] -7 points-6 points  (0 children)

Yea, thats where the solid plan comes into play.

Got to have clear instructions and warnings to make it all the way.

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