Bitcoin Is Financial Sobriety

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Two college-age Bitcoiners discuss how young people are changed by the culture of Bitcoin.

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College, for many, can be an experience that completes the transition from youth to adulthood. Along with the many responsibilities that come with living on your own are the freedoms to enjoy life. It can be a life-direction-changing place, for better or for worse.

With these themes in mind, I spoke with Bitcoin Magazine’s very own Eli Dyer about the differences we’ve observed in young people we know outside of Bitcoin versus the young people we know who have been kissed by the orange sun. Be sure to check out the podcast, along with reading the written version of the interview below.

How did you first hear about/get into bitcoin?

I first heard about it and used it in 2018. I was bored in high school and doing random, degenerate stuff online to make money such as online trivia games, lending out money and gambling on Bustabit. It was attractive to me because I was under 18 so I couldn’t open up a bank account in my own name, but I could have my own Bitcoin wallet. Sadly, I didn’t go down the rabbit hole until later, during college. I saw the price going parabolic and decided to look into why people were paying $30,000 for a bitcoin. I started doing research, studying monetary history and eventually found myself on Bitcoin Maximalist Twitter with a completely new lens with which to view the world.

How has Bitcoin changed your life?

It’s given me a sense of urgency — stack as many sats as possible before hyperbitcoinization. It has made me more optimistic for the future. It has made me more conscious about what I spend time on. The only two finite things are my time on this earth and Bitcoin.

It has made me less worried and anxious about dumb stuff, I know I’ll always have my bitcoin stack to fall back on. It’s made me happy to have found a group of people who see the world in a similar lens as I do

You and I are both college aged — what differences in perspective do you see between younger Bitcoiners and young people who haven’t yet understood Bitcoin, in regards to culture and current events?

I think the problem that younger people have with understanding Bitcoin is that it takes a long time to really grasp what it is, and you probably have to read a couple of books in order to really get it. It seems like people don’t really read books anymore because the dopamine from these social media apps has destroyed everyone’s attention spans; I’ve recommended “The Bitcoin Standard” to like five different people and no one has read it. Everyone is caught up with the current news and celebrities/pop culture, but to understand Bitcoin you have to take a break and zoom out and really study monetary history and how we got here and most people our age just aren’t interested enough in that.

What are you most looking forward to in the Bitcoin space?

More Michael Saylor-esque speculative attacks on the dollar and the number of Bitcoin maximalists increasing.

Price prediction for the end of 2021, and the end of 2030?

I think we’ll see new all-time highs for sure by the end of this year, my guess is that we reach $100,000, barely.

By 2030, I think hyperbitcoinization will be in full swing, if it hasn’t already happened. I think 2029 is the year of hyperbitcoinization, with the block reward decreasing to 1.56 bitcoin. In terms of USD purchasing power, I believe 1 bitcoin will have the purchasing power of $10 million by then. 


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Bitcoin is Teaching Generation Z How to Properly Save, says 10T Holdings Co-Founder

Bitcoin (BTC) is continuously surprising the world with its outstanding price achievements. It has taken the world by storm based on its impressive bull run, which saw its previous all-time high (ATH) of $20,000 – which has been the highest price level it was able to hit for three years – breached in mid-December 2020. The leading cryptocurrency is hovering around the $38,400 price at the time of writing, according to CoinMarketCap.

Dan Tapiero, the co-founder of fintech and digital asset firm 10T Holdings, said that BTC is playing an instrumental role in teaching Generation Z (Gen Z) how to save. 

He took to Twitter to reveal a compelling story of how he had advised his 16-year-old daughter to buy Bitcoin (BTC) before, but to no avail. The narrative is, however, different because she finally heeded his call by investing 30% of her cash in Bitcoin, agreeing to hold the cryptocurrency as a legitimate investment. Tapiero revealed:

“My 16-year-old daughter finally buys Bitcoin using the Paypal app. She would not listen to her old dad before….but ‘wow, it’s so easy.’ Told her it could go up 10x in 5yrs (conservative). Next, she puts 30% of her cash in it and agrees not to sell. BTC is how Gen Z learns to save.”

He believes that Bitcoin is a gift to Gen Z, those born between 1997 and 2015, because it will uplift their saving culture. BTC is also popular with the preceding generation, Millenials because in the eyes of some, it is the Millennial’s version of gold as attested by a former Australian politician in November last year.  

Bitcoin’s correlation with USD sinks to a historic low

Without a doubt, the US Dollar (USD) has been taking a beating from the present Bitcoin surge. Research shows that both assets have an inverse relationship. This was evidenced by the fact that as BTC skyrocketed by more than 295% in late 2020, the US Dollar Index (DXY) slipped to a 32-month low. 

Market analyst Mati Greenspan has revealed that the correlation between Bitcoin and the USD has slipped to the lowest reading in history at -0.15. He acknowledged:

“According to data from Coinmetrics, the correlation between bitcoin and the USD is now -0.15, its lowest reading in history. The inverse correlation is still tiny, but the trend is clear. That’s what happens when Bitcoin flies for 6 months while the dollar sinks like a stone.”


This information, coupled with news that incoming U.S. President Joe Biden plans to incorporate a $1.9 trillion spending package to bail out the economy, is a silver lining to Bitcoin as it seeks to go to the moon. 

Image source: Shutterstock


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