An Open Letter To Those Who Are Considering Buying Bitcoin

I rewrote this 4 times. I hope it helps. FYI, I suffer from severe depression and mood swings :)

Bitcoin is worth 1.05 trillion/56k per coin.

We can discuss money printing, zero rates, blah blah blah. Or we can skip to the fun stuff and answer the question: Is bitcoin the new beverly hills?

Is bitcoin the new beverly hills? Well, why is beverly hills valuable? Is it a great piece of land with natural resources? Does it have amazing views? Does it have the lowest tax laws?

Beverly hills actually does have oil wells, but that's not why people pay a shitload to live there today. They pay a shit load because 99% of people are not allowed to live there. I know it's hip to talk about all inclusive societies, but people vote with their [fake] dollars. A neighborhood is a network, and beverly hills represents one of the most exclusive networks. There's a high cost to enter, and multiple barriers to entry.

IMHO, bitcoin is the beverly hills of assets. Not digital assets. Of assets. Period.

89% of bitcoin has been mined. In 3 years 450 bitcoin will be made a day. Tesla's purchase was about 50,000 bitcoin-so that size purchase in 3 years will equal nearly 4 months of supply.

The painful question is this: do you want ownership in this network?

The way I see it is that of the 18 million coins, at least 2 million are lost. I believe at least half of holders won't sell for several reasons: they are true believers, but also they bought at much lower prices and have no reason to sell. So, we have about 8 million coins for sale, MAX, at any price (I'd say for arguments sake some of them start selling at $1,000,000.

What I believe we are seeing is a massive rush to join the most exclusive network in the world. A new beverly hills, or monaco, if you prefer.

Why live in this neighborhood? Why pay so much? Simple: the chance something really really stupid is going to happen in the main city.

So why isn't everyone running to go to beverly hills? Well, that's for you to figure out.

But I have decided I want to live in beverly hills.+

submitted by /u/mrbiggelsworth07
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