Each morning, after waking, the first thing I do is pick up my iPhone, open the Coinbase app and check the Bitcoin price in United States Dollars. Before my eyes even open, my brain wants to know if it’s going up, going down or remaining stable. Usually I’m still half asleep and have to rub my eyes and think for a second, as my brain tries to comprehend what I am seeing. Some may think this is a little obsessive or worrisome, but in reality, I’m actually just really excited for the future of bitcoin.
Why am I excited for Bitcoin? Because I believe it will continue to grow and increase in price. And just like all other early adopters of cryptocurrencies, I like to imagine how high the prices will climb and what that may mean for me in the future. Bitcoin at $10,000? $50,000? $1,000,000? Who knows for sure, but it’s pretty exciting to think about!
But why does the USD price of Bitcoin matter?? It matters, because I want to know how much purchasing power Bitcoin will give me in the future. And since everything I buy day-to-day is priced in government issued US Dollar fiat, I want to know how much fiat my Bitcoin is worth. But the truth is, when I am finally ready to cash out my Bitcoin fortune to spend on life changing assets, it won’t matter!
The picture I’m painting for my future, is an economy where the ever inflating, corrupt US dollar doesn’t even exist. It would have been long replaced by a more modern currency that allows the world to trade value without government oversight and regulation. A world where we don’t allow governments to interfere in our choices how we spend our wealth. Separation of money and state! Where all prices are in the new currency and dollars are what the kids use for monopoly. So why would I care what the Bitcoin price is in USD? In the future, I won’t. The only question I’ll asking is how many cars/houses/businesses can I buy with my Bitcoin???
Loki Sullivan,
Bitcoin Philosopher