I love the idea that Bitcoin is itself a lesson. I'm sure I'm not alone in having learned more about the financial system through time studying Bitcoin than through forty-odd years of institutional education and life. So I'm interested in knowing what you know now, but if there was no Bitcoin (or anything similar) how would you distribute your wealth?
I'm asking this partly hypothetically, but also because in a practical sense, almost all of my wealth is split between BTC (a little over 1BTC) and the house I live in (worth about Β£300k) with about half of that left to pay on the mortgage. I have some cash reserves and about Β£5k in or ready to deploy for alts. Other than that I have nothing else other than a modest pension.
The deeper I go on BTC, the more convinced I am by the tech and the potential it has for changing society for the better, and the more everything else looks like a bad place to put capital. However, I am also pragmatic, and although BTC has proved itself over the last fifteen years, it is also still highly vulnerable to regulation and there is always the potential that the tech is compromised somehow, or some kind of severe global black-swan occurs and capital flees (I think it will become a flight to safety once it reaches critical mass, but it is still a good way from that yet) This, and the old adage of diversifying investments leads me to consider where else I should be putting my capital as a hedge. And the best way to consider this is maybe to imagine what would be the best course of action in a world without Bitcoin.
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