Well we did it, 100,000 Bitcoin is there. I’m sure many of you are quite happy with the current level of your net worth, and you all had to exert a great deal of self-control in this situation to hold on to your coins in order to get to this position in the first place.
You are all here because you were lucky to begin with, you found Bitcoin at the right time, someone you trusted brought it to your attention, and the right confluence of events at the right time led to you taking it seriously. That’s not why you stayed, why you endured everything. This required your own effort and decision. But the reason you ended up here in the first place is luck.
I think it’s important to keep that in mind. It’s a combination of luck and your own effort that has gotten you this far, it’s not just you and your brilliance or your iron will. It is the meeting of both.
This is truly a point of no return and a big change in the future. The problems are getting harder, they are not going away just because we are all much richer now. With more money comes more difficulties, more challenges that we have to face. And more money will bring in even more people, all of whom will need to be convinced that these problems exist. Convinced that the solutions to this are things that we must act on.
Fix the money, fix the world. There is a grain of truth in this sentence, but in reality the money is not yet fixed. A limited supply cap isn’t the only money problem. There is the possibility of confiscating, monitoring and controlling your assets. These problems are not solved simply by Bitcoin having a limited supply.
To fix these problems, Bitcoin actually needs to scale. We need to make the network accessible to enough people to prevent coins from accumulating in a handful of large custodians that can be trivially captured through regulation. Otherwise your money may be seized. It will be monitorable. None of these issues are resolved.
So don’t let this price landmark distract you. Check your ego and keep a realistic perspective. Just because of a number on the screen, the matter isn’t resolved, not even close. There is still much work to be done before these fundamental money problems are a thing of the past.
This article is a Take. The opinions expressed are solely those of the author and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
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