Well, we did it, 100k Bitcoins are here. I’m sure many of you are pretty happy with where your net worth is right now, and all of you in that situation had to exercise a great deal of self-control to hold onto your coins to get to that position in the first place.
All of you are here because you got lucky initially, you found Bitcoin at the right time, someone you trust introduced you to it, the right confluence of events coalesced at the right time to convince you to take it seriously. That’s not why you stayed, why you resisted everything. This required your commitment and choice. But the reason you ended up here in the first place is luck.
I think it’s important to keep this in mind. It’s a combination of luck and your own effort that has brought you this far, it’s not just you and your brilliance or iron will. It’s the confluence of both.
This is truly a tipping point and a big change in what will happen in the future. The problems will become more difficult and will not disappear just because we are all much richer now. With more money comes more difficulties, more challenges we will have to face. And more money will attract even more people, all of whom will have to be convinced that these problems exist. Convinced that the solutions to these problems are things we must act on.
Fix the money, fix the world. This sentence has some truth, but the reality is that the money has not yet been set. A tight supply cap isn’t the only problem with money. There is a possibility that your wealth will be seized, monitored, controlled. These problems are not solved simply because Bitcoin exists with its limited supply.
To solve these problems, Bitcoin must actually grow. We need the network to be accessible to enough people to prevent coins from piling up in a handful of huge custodians that are trivially captureable by regulation. Without this, your money will be seized. It will be surveillable. None of these problems will be solved.
So don’t let this price benchmark distract you from that. Check your ego and keep a realistic perspective. Things still don’t get fixed just because of a number on a screen, not even close. There is still a long way to go before these fundamental problems with money become a thing of the past.
This article is a Take. The opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.