Bitcoin Price Will Hit $1 Million in 2020 Because.....
- Thread starter kventin.upgrade
- Start date
Good logic, higher the price, more mining becomes worthwhile. Bull market you can assume some would,no longer valid at the moment, too uncertain.
Price has to find it's perceived value, not fall but likely outcome.
That's a weak counterpoint, considering 90% of US dollars in circulation have cocaine residue:
http://edition.cnn.com/2009/HEALTH/08/14/cocaine.traces.money/
Why does $100 dollar bills make up 80% of US Currency (2012)?
https://www.theatlantic.com/busines...make-up-80-of-all-us-currency-but-why/265518/
"So, by all accounts, domestic consumers are holding about 44 percent of currency in circulation. And, yet, they only admit to holding 5 to 10 percent. That leaves more than one third of all US currency in circulation unaccounted for. Rogoff implies that the difference between what is being held by consumers (44 percent) and what is admitted to being held by consumers in surveys (5 to 10 percent) is a reasonable estimate of the share of cash employed to buy and sell illegal goods and services and/or evade taxes. In other words, more than a third of all US currency in circulation is used by criminals and tax cheats."
Some estimates about how much of that is in foreign reserves and the source of the above quote:
https://www.aier.org/article/sound-money-project/how-much-cash-used-criminals-and-tax-cheats
Granted BTC had gained traction in the dark web, it is far easier to trace than dollars:
https://www.wired.com/story/bitcoin-blockchain-fifo-dirty-coins/
Pekelo,
True that the number of coins/tokens is out of hand. This will self correct over time. I'm focused on bitcoin with most of my funds, not sure what will happen to other cryptos. Bitcoin will be here 10 yrs from now imo.
The max supply of bitcoin if 21,000,000. The max supply is actually lower by a few mill due to lost private keys. The market cap of btc is ~100B. This is without an etf, large investment by countries, pension investment etc. 1T possible? = ~50k per btc. I can see much higher than that, but 50k seems like a slam dunk.
I think we will look back on this time as the early years too.
True that the number of coins/tokens is out of hand. This will self correct over time. I'm focused on bitcoin with most of my funds, not sure what will happen to other cryptos. Bitcoin will be here 10 yrs from now imo.
The max supply of bitcoin if 21,000,000. The max supply is actually lower by a few mill due to lost private keys. The market cap of btc is ~100B. This is without an etf, large investment by countries, pension investment etc. 1T possible? = ~50k per btc. I can see much higher than that, but 50k seems like a slam dunk.
I think we will look back on this time as the early years too.
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1. That is not what I said.
2. it is irrelevant because:
a/ it is still inflationary.
b/ other just as good or better coins are available, so supply is unlimited.
Holy fuck people, that is not what I said!
Bitcoin is inflationary, everyday we have more of them. Somebody has to buy those extra coins. Higher the price, more money is needed to buy the new coins. Almost no crypto fan takes this into account when they predict gazillion future prices.
Simply put: Incoming money can't keep up high prices for extended periods of time, unless the made coins per day falls to a low level.
My friends company got an email, it was opened nothing happened, then. Fast forward 2 months and they all come to work and everything is locked down/out, the whole system. They get an email to transfer $20k in bitcoins blah blah blah. He had his IT guy work on it day and night for 3 weeks.
Have you solved your problems?
