We did it. 100,000 Bitcoins are here. I’m sure quite a few people are very satisfied with where their net worth is currently. And all of you in that situation have had to exercise a great deal of self-control to hold on to the pennies to make money. To that location in the first place.
You all got lucky in the beginning, you discovered Bitcoin at the right time, someone you trusted introduced you to Bitcoin, you got the right confluence of events that allowed it to coalesce at the right time and take it seriously. That’s why it’s here. That’s not why you stayed, it’s why you endured it all. This required your own effort and choice. But the reason you got here in the first place was luck.
I think it’s important to keep that in mind. It was a combination of luck and your own hard work that got you this far. It’s not just you and your brilliance or iron will. It is a confluence of both.
This is truly the point of no return, and a huge change in what happens next. The problem will only get worse. Just because we are much wealthier now doesn’t mean the problem goes away. The more money we have, the more difficulties we have, and the more difficulties we have to face. And more money will bring in more people, all of whom will have to be convinced that these problems exist. I was convinced that the solution to this was something we had to put into practice.
Fix money, fix the world. That makes sense, but the reality is that the money hasn’t been decided yet. Limited supply limits are not the only problem with money. They have the ability to confiscate, monitor, and control your wealth. These problems are not solved simply because the supply of Bitcoin is limited.
To solve these problems, Bitcoin needs to really scale. We need a network that is accessible to enough people to prevent coins from accumulating in the hands of a few large custodians who can be trivially captured by regulation. Otherwise your money will be confiscated. Surveillance will be possible. It won’t solve any of your problems.
So, don’t let this price tag distract you. Check your ego and keep a realistic perspective. The number on the screen has not fixed the issue yet. It doesn’t even close. There is a lot of work to be done before these fundamental problems with money become a thing of the past.
This article take. The opinions expressed are solely those of the author and do not necessarily reflect the opinions of BTC Inc or Bitcoin Magazine.