The summer of 2007

I started my career in July of 2007. I saw the final top-a bunch of people partying with no real concern about what was happening. This then led to "things will be okay" as everything crashed. I actually give validity to someone who says "bitcoin could crash"...however, what I don't see is these people saying "there might be something wrong with the money/current financial system".

This post is not to prove anything. It's to share my experience.

Most of my friends and colleagues are much above average income. A decent amount amount are decently wealthy. Most range from $150k-$250k/income year, average age of 35-42. Net worth including retirement is generally 250k, 800k-1mm, and a few around 2-3 mill. Need to stress most do not have kids and these are single income earners and/or several have a high income earning spouse.

So what is the opinion of most on btc?

Ranges from "way to make money" to "going to 10k" but most is "tulips" or do not care.

Why? As their income rises, they feel safe. For those that own assets, their rising house prices provide them comfort. I have noticed an increase in behavior based on a wealth effect-building pools, considering buying 2-3 mill dollar homes, expensive trips, designer clothes, etc. I do not hate on them-I did the same nonsense just a year ago, and heavily 2-3 years ago.

Some do not flex but I would put in the more "I think I will be fine category". I know people with hundreds of thousands of dollars of cash just sitting there.

What is going on in the normal economy reminds me very much of the summer of 2007...it's becoming absurd that there are no recessions, but I believe the downside of allowing it forces the governments/cbs to continue the support aka nonsense and printing.

So if it is the summer of 2007, where do I want to be? I want to be in the opposite place of where the majority is. This opposite place was gold in 2007. It is now, in my humble opinion, bitcoin today. The major difference is that the network of gold is so well established-the network of bitcoin is in it's growth stages.