Donny I mean this with all due respect, but I think it is a perfect circle of people who have enough bitcoin to get a mortgage based on their holdings and people who would have enough money otherwise in any other asset class to get a mortgage based on their holdings. Bitcoin is not working class.
The post I quoted of myself was from 5 years ago. The bank I was working with to buy my house would not even consider my bitcoin as part of my asset stack. Fast forward to today, and Fannie Mae is now accepting BTC as collateral for mortgages. That's tangible, meaningful progress in just a few short years. It's a hugely meaningful use-case unlock and validity threshold crossed amongst the tiresome chorus of "it has no utility" ignoramuses. Bitcoin has literally zero barriers to entry and is appreciating a lot faster than real estate, so, yeah, it is very much working class. The fact you're saying this to someone who is outside of that perfect circle you just described is pretty funny.
Are you working class? I am sorry for assuming otherwise. I would prefer a world of bitcoin to one ruled by the Fed and Visa/Mastercard.
It's not about being working class, which I am. It's about who has substantial, if not majority portions of their wealth stored in Bitcoin. Bitcoin will make more parabolic runs in the future, far out pacing the stock market and real estate. This means that more and more people will find themselves in that cohort over time. I am living proof of this. When I started my buys Bitcoin was a very small portion of my wealth, but my sats appreciated far faster than anything else I owned. Fast forward 6-7 years and now my bitcoin is the vast majority of my wealth. It puts me square outside of that "perfect circle" you described. If I went to buy another house today, I'd be using primarily BTC and not USD.
All my money is tied up in stocks and bonds. I am not smart enough to pick winners and losers. But I am smart enough to know I shouldn't park my money in cash. https://www.marketwatch.com/investing/fund/PXF This is printing for me.
Yeah, I have neither the interest or the gumption to be a constant trader. Bitcoin is where I put my "fun money"...it's been good. Of course it will be worthless if the **** ever hits the fan, just like my stocks/bonds/etc... I do have 1 CD at a bank with a good return and no penalty, for an absolute "I need cash now and am first in line" situation
I think if we ever end up in a "I need cash now and am first in line" situation the last thing you are going to want is dollars because that situation means the dollar is hyper-inflating.
