Netscape was bought by AOL in 99.
Dozens of others ended up going to zero.
Webvan, Etoys, etc etc etc
Bitcoin Price Will Hit $1 Million in 2020 Because.....
- Thread starter kventin.upgrade
- Start date
Dozens of others ended up going to zero.
Webvan, Etoys, etc etc etc
Currency is unlimited both crypto AND fiat.
Fiat has a 100% history of trending to $0 as a government debases it’s currency.
Money is limited.
Currency is not money.
Some factors that would have to occur for BTC hyper appreciation;
1) Increase in the pace of hyper inflation
2) Decrease in the dominance of the petrodollar
3) Decreasing use of the dollar as a reserve currency.
Consider:
As of 2017, 2/3rd’s of the world’s population ~5 billion people have cell phones. Only ~2 billion people have bank accounts.
A bank account is not necessary to own nor transact BTC.
The other 3 billion are kids of the 2 billion parents who have bank accounts.
As long as you stay in BTC. Convert to USD, GBP, EUR... and you need a bank account.
The last few weeks in Europe a lot of food companies received a letter to pay 300.000 euro in bitcoins. If they refuse their products will be poisoned.
That's just one of the reasons why criminals will do all they can to support bitcoins. Fiat money is traceable, crypto's are not. For that reason alone crypto's should be banned.
That's just one of the reasons why criminals will do all they can to support bitcoins. Fiat money is traceable, crypto's are not. For that reason alone crypto's should be banned.
A lot of countrys are talking about banning, a few have already banned "Mining", it's just too risky for many people to get into, already back below 5500 currently, blip to hit some tight SL's I bet.
DOWN TIME!!!
How about supply? Everyday we have 5 new types of coins. The early years happened 8 years ago...
Dunno, history? Why do you think it isn't?
Why don't you do the math and tell us how much new money PER DAY is needed if BTC is at a million, assuming half of new coins comes to the market everyday? Where is that money going to come from?
Mining has a cost, ie electricity to do the computation to generate fractions of a coin, but is mining bad because there is more of it, more supply lower prices ??
You have to assume miners sell their newly mined coins, at least most of it. So multiply the daily price and the new coins entering the market and that is the NEW money has to enter the market everyday just to keep the price level. If less than that comes in, price has to fall, according to my economy class.
Higher BTC's price, the more new money is needed just to keep it from falling.