Bitcoin will be the hope that young people can afford a house

Bitcoin has taken over the Internet

Whenever you log on to Twitter, you will find that Bitcoin is trending up every two days. I wanted to offer an alternative to the typical narrative. Why are young people like me so obsessed with Bitcoin?

• It's a way to escape the current financial system.

• Bitcoin is the hope for how many young people believe they can afford a home one day

During my parents' baby boom years, the average person thought they would own a home. Among millennials, owning a home has become an outrageous dream. The average salary buys you a house for much less than it used to. A home is the biggest expense of your life.

As a millennial you can only keep watching home prices keep going up, which is scary. If you don't own a trust fund and have no inheritance rights, owning a home is a distant dream.

I live in a noisy student apartment right now, behind a train line that keeps me up at night; all it takes is for me to wear a suit to work in an adjacent office.

But Bitcoin changed that.

Bitcoin is not a bubble. that's why.

It's easy to label assets as "bubble" these days. It takes no effort and no intelligence.

"The price is too high. This asset is a" bubble". "That's what social media discussions look like.

I want to burst the bubble into pieces. Investing icon Raoul Pal says Bitcoin's price rise is due to network effects, not a bubble. It's the same reason Facebook, Amazon, Apple, Netflix, and Google seem to have unrealistic stock prices compared to the usual price-to-earnings ratios that measure market capitalization.

When a technology has strong network effects, its price increases exponentially. this is normal. This is the reason for crushing the bubble theory in the traditional financial world. Traditional finance doesn't understand technology, so they call things a bubble to fill the gap in their understanding.

Web 3.0 and Bitcoin have powerful network effects.

Prices have and will parabolic with further adoption.

Chasing Runaway Inflation

You now know the main reasons for the increase in the price of Bitcoin. But there is another main reason.

Buying bitcoins is how you stay financially healthy.

Thousands of dollars keep appearing out of thin air as the price of lumber soars in the U.S., increasing the cost of living. So young people are buying Bitcoin = not to get rich, but to keep up with rising burdens. Because housing prices are one of the important assets away from ordinary people.

If I don't buy Bitcoin, I can't afford to buy a house. That's the brutal truth.

Bitcoin is an opportunity to solve problems that I don't know, such as a global epidemic that has caused the global financial system to collapse, bank interest rates are at zero, the stock market is rising while unemployment is at record highs, and bank accounts in some countries are paying interest Negative or zero.

Bitcoin is a silent protest. Bitcoin is also a way to own a home. Since the 2008 crisis, it has not been enough for governments to buy stocks or other asset classes with the intention of keeping markets elevated to avoid a long-overdue collapse.

The stock market crash has the potential to reveal the lies of the current financial system. 2% inflation may be the main reason. A flood of risky assets, like those that led to the 2008 crash, could be unmasked.

The man who made millions of dollars during the 2008 financial crisis and was turned into a movie, Michael Burry tries to warn of the current risks. The SEC stepped in and warned him. His Twitter has gone silent.

I can't predict what will happen.

I just know there has to be a best way to replace quietly taxing and making more dollars out of thin air and when supermarket prices and house prices already let you know inflation isn't 2%

please call us dreamers

Since the birth of Bitcoin, the average annual growth rate has been 200%.

If I had to buy Bitcoin to catch a skyrocketing price of something I need to afford (like a house), then I would. You can call us bitcoin fools, call us stupid.

In the absence of an alternative financial system, the wealthy who own most of the real estate will continue to buy more real estate, leaving mere mortals to rent from them for a lifetime. Bitcoin is a new financial system and the only chance for the young to outperform the rich.

The rich are buying more real estate than they need. We buy Bitcoin to catch up and restore equals.

Maybe Bitcoin is a silly dream.

But we have to try something new, right?

Bitcoin is not making us rich. Bitcoin is what allows us to afford a society where prices are soaring today.

The original text comes from Tim Denning, compiled and organized by Mach Blockchain. The English copyright belongs to the original author. For Chinese reprint, please contact the compiler.