It's been in the works for a long time now. The big dogs in politics and old money, are turning their eyes towards cryptocurrency. One by one.
As Bitcoin soars to new all-time-highs, the rush orders are sent to their peons. To find a way to control this increasingly valuable commodity, and most important of all...profit from it. By taxing it. Now if this isn't a proof of concept, I don't know what is.
Except for the approval of hardened criminals and cartels. If you can pay some gangsters in cryptocurrency for their precious goods, you know shit just got real. Luckily, the closest the government is getting to your stash is your Crypto Exchange account. And of course, if you should decide to link a purchase to your personalia. So there are definitely ways around that. Otherwise, unless you're already under surveillance, you're probably good. If you're careful.
As long as we don't get any huge errors, like actual double-spend, BTC will be the gold standard. And we're in the middle of a gold rush.
Some advice for building towards financial freedom:
- Buy BTC as a long-term investment. (If you want to play around, selling high and buying the dip again, sure. go for it. It's your money.) But most importantly, just buy some. Don't be like me in 2014, thinking I should definitely do it, and then don't. Regrets were had.
- Move your cryptocurrency from your Exchange account to a hardware wallet. Your personalia is ALL over that Crypto Exchange account, linked directly to your precious coins. It's a nice gesture towards your government when they decide to tax the shit out of your 100x financial gains. But do you really want to be that helpful? Of course not.
Keep in mind that Bitcoin transactions actually CAN be traced somehow. But sending it to a wallet without a name attached to it is a good first step. (For those interested in hiding your wealth REALLY good, just do a quick search... In private mode of course ;)
- Keep your Bitcoin. Hold them. Just let them rest easy, for about 8+ years. Until you're ready to live the life you've always dreamt of. As a digital nomad with full financial freedom.
- Collect all the altcoins you can along the way (but don't spend too much time on it). BAT could take a huge part in the future of monetization and advertising, as more people are getting a little jealous of the piles of cash Google is stacking up, selling your data. It's actually a brilliant concept, and I love it. And of course DOGE. If you know, you know.
- Invest in the stock market! It's blowing up at the moment because everyone collectively realized that is where the big boys get their quick and easy gains. Thanks, COVID-19 and Robinhood! If you have anything lying around which you don't need, sell it, invest the profits, and start building that sweet portfolio. That portfolio will become a monument of the time you decided to actually take some action. A monument for all the time spent learning about diversification strategies, candlestick charts, and moving averages. But most of all it will be a monument for you to show off to /r/wallstreetbets after taking some serious hits on some deep OTM calls on a meme stock.
(I'll probably write a short little post on some "investment" tips you might not see everywhere. I'll try to avoid the cliches.)
Don't forget to indulge in your other interests as well. Cultural capital is also something you'll need to live the life of your dreams. You don't want to be that guy with money, just talking about money.