Why I Bought More Bitcoin (Again)

As of today, I re-consolidated all of my cryptocurrency and also spent more US dollars from my checking account to buy more bitcoin. Why? My thoughts:

Bitcoin is the most sexy cryptocurrency

Out of all the cryptocurrencies out there, I believe bitcoin to be the most sexy. I like the orange color, and it always attracts my eye. Also, when I was in Mexico City, I saw lots of street stickers advertising bitcoin, but nothing else.

Just one

if you want to simplify your life, just have one. Just have one type of cryptocurrency investment, one camera and one lens, one car, one home, and one shirt, and one jacket. And maybe just one kid.

Just one.

Bitcoin baby billionaire

Now that we got rappers rapping about bitcoin, it is a good sign.

I’m already rich enough

Those who speculate in cryptocurrency just want to become rich and make a lot of money. But what if you’re already rich enough? I already feel rich enough, no more need for me to speculate.

Think about the day, not the future

Hope is a vice, especially when it comes to speculations in investments. Everyone wants their own alt coin to become the next bitcoin. But why not just buy bitcoin instead?

Don’t worry about market timing

If you think long enough, timing doesn’t matter. For example, I think about the next 20 or 30 years, when Seneca is old enough to do something meaningful to the bitcoin I bequeath him.

Bitcoin is the peg, not the US dollar

Right now, I think people make the wrong peg. People are always talking about how much one bitcoin is worth compared to the US dollar. But this is the wrong thinking. The better question is —

What is it pegged to the bitcoin?

For example, my personal thought is that the US dollar hegemony will slowly meet its demise. Why is this? America in general has some strange trends: more money being pumped out to unemployment, McDonald’s paying $15 an hour for labor, labor shortage, all time high stock market, in spite of the pandemic.

Also the problem is the US government keeps pumping out money, and printing its own money. Also now that we have the Democrats in office, who are not as pro war as the Republicans, military intervention will not be as strong. Right now, the only reason why the world accepts the US dollar as its de facto currency is because the US military is supreme. In the next 50 years, I am not certain if the US military will still remain on top. Maybe China will have the strongest military, they certainly have the most manpower.

What do we really need to purchase anyways?

It seems that the only real goods to purchase include homes, cars, computer devices, food.

For every day transactions, unfortunately it seems that visa and credit cards will continue to propagate much longer than we would like. I would prefer we just use cryptocurrency for every day payments, but I’m starting to become more skeptical on that fact. Perhaps the VISA hegemony is too powerful.

But I do easily envision a world in which people will sell their homes and cars in bitcoin. For example, imagine being able to sell your home or buy home for 4 bitcoin. I can also easily imagine a future where you could buy a Tesla, either brand new or used from a private party in bitcoin.

Also, I could easily envision a future in which you hire contractors, or hire labor or maybe even photographers and even sex workers for bitcoin or other cryptocurrency‘s, rather than the US dollar.

A near future in which you can just beam your cryptocurrency from your phone wallet to another individual seems to be the future. Why is this? With more illicit activity, people do not want a paper trace for their monetary activity.

The best or nothing

My basic thought is that almost indefinitely, maybe into perpetuity, bitcoin will remain on top. It is the easiest to pronounce, remember, and it is also the simplest cryptocurrency. Even Cindy’s mom can pronounce it in her “broken English“.

CRYPTO THOUGHTS

Brave new world for photographers and crypto:

CRYPTO THOUGHTS

Brave new world for photographers and crypto: