Bitcoin. My Generation.
When I first got into real estate in New York City, I heard many, many stories and have personally met people who “bought a building for $1” back in the 1980’s and even still severely underpriced NYC real estate throughout the 1990’s. How incredibly ridiculous does it sound today, to buy an entire building in the East Village for one dollar and having everyone you know telling you how “out of your mind” you were. Believe it or not, that was the situation back then. Were these people out of their mind? Are us Bitcoiners out of our minds? Here is the situation today. Those same NY buildings are easily selling for prices between $6 and $20 million dollars. That’s insane yet that’s the reality. If you told someone in 1985 that the townhouse you bought for a dollar was going to be worth 12 million in 30 years, you’d have endured absolute ridicule. Yes, you were right. A 13 room apartment in The Dakota off Central Park West was selling for around 100k in the 1970s. Central Park was a disaster, the city was teetering on bankruptcy and everyone thought you were clinically insane for buying it. I met a woman who purchased one and I believe she it sold for about 25 million dollars.
Were these pioneers really crazy? I don’t think so. In fact anyone who is in their 20s or 30s really has almost a zero percent chance of ever seeing an opportunity like this in their lifetime. This was my biggest complaint through most of my 20’s. When I was born! I missed all the best opportunities. I was barely old enough to open a brokerage account when the 1990s dot com and tech bull markets were in full swing. Yes, that did not end well for most but depending on how you played it, you could have made a killing. Even the 30+ year unstoppable bull market in bonds would have made a conservative portfolio a “boat load” of money over time. These sweet pitches don’t come around all that often. Yet, at the time they aren’t always viewed that way. These opportunities are few and far between. That brings us to today.
Where is our opportunity? Where is the “home run” investment of my generation? Well, I would say the only chance we really have is Bitcoin. Notice I am purposefully singling out Bitcoin and not referring to “crypto currencies” or “smart contract platforms” or ICOs, Tokens, altcoins or anything other than…., the Big…. Bad….. Bitcoin.
You think you missed your chance? You want to invest in “the next Bitcoin” or some type of “better Bitcoin.” It’s a futile effort and yes it can be fun and sometimes lucrative to take a trip to the “shitcoin casino.” There’s nothing wrong with that. But let’s be real here. There is no better Bitcoin and I really doubt there is ever going to be a “better Bitcoin” in our lifetimes. Maybe ever, for that matter. Bitcoin will continue to improve, the Bitcoin network is functioning better than ever and is always where the major innovations have and will continue to come from. The brightest and smartest people in the world are working on Bitcoin.
Source/More: Bitcoin. My Generation – CRYPTOIDS