I'm a bit more optimistic. I don't think it will hit 1 million (and if it does people should abandon it becase that's way too high), but 10k is a low number considering only 17-18 million will ever be in circulation. Then you have to take into account there's still billions of people without reliable internet access and broadband satellite internet becoming a reality. Not hughesnet, I'm talking 1gbps+
1 BTC = $8.2k, it’s up 735% this yr UPDATE 5/19: BTC @ $42k :damn:
- Thread starter JordanWearinThe45
- Start date
eastsideTT
Superstar
This sounds super basic and my maths are probably off, but say BTC is being used every day...no...every second of every day as a currency alternative, almost as much as the USD, wouldn't the exchange rate be something like the total number of USD in circulation divided by the total number of BTC in circulation? i know it gets more complex than that, but even if BTC is used commonplace as currency, the limited supply kind of ensures that at the very least the value is going to be higher than the USD at any given time
I would like to hear what John McScamfee has to say when it DOESN'T hit $500K this year...he made some public claims of what he was willing to do if it didn't...
it’s NANO time ! 
...)
heisenburrr
Have Fun Staying Poor
the notional value of United States physical bank notes in circulation ALONE is about 1.5 TRILLIONS of dollars
there are a little less than 17M bitcoins.
i'll let you do the maths. (at this point im not sure you are even capable of that though)
to illustrate how dumb you are let me point this out as well:
it's estimated there are upwards of TWENTY TRILLIONS of dollars stashed in offshore bank accounts all over the world. these deposits are considerably illiquid and such accounts are more often than not used to save money rather than spend it.
i'll let you work out the value of Bitcoin if it were to replace offshore accounts.
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J Money
No weapon formed against me shall prosper
the notional value of United States physical bank notes in circulation ALONE is about 1.5 TRILLIONS of dollars
there are a little less than 17M bitcoins.
i'll let you do the maths. (at this point im not sure you are even capable of that though)
to illustrate how dumb you are let me point this out as well:
it's estimated there are upwards of TWENTY TRILLIONS of dollars stashed in offshore bank accounts all over the world. these deposits are considerably illiquid and such accounts are more often than not used to save money rather than spend it.
i'll let you work out the value of Bitcoin if it were to replace offshore accounts.
Lol why is it every one of your posts is always on some passive aggressive cac shyt? Ive never seen a post of yours that isnt
Lol why is it every one of your posts is always on some passive aggressive cac shyt? Ive never seen a post of yours that isnt
That dude is a total clown.
heisenburrr
Have Fun Staying Poor
Lol why is it every one of your posts is always on some passive aggressive cac shyt? Ive never seen a post of yours that isnt
How else should I respond to stupidity? Somehow people come in here saying the most outlandish shyt with no humility whatsoever, but I'm the one who should tone it down? Most posters here would fail a basic grade school economic exams but somehow they're in a position to call out the investment decisions of others?
The amount of noise and misinformation in this thread is laughable. People who are talking out their ass should be called out and shamed appropriately.
Miss me with that politically correct bullshyt
Perfectson
Banned
what's your over arching point? Just to be clear as the debate is going on tangents . I think you're suggesting cryptos will not be worth jack in the future vs fiat/government issued currency uitlizing the protocols of blockchains?
Perfectson
Banned
fluz fluz quadruple - that's what a coin is about whe nit actually has partnerships (nike) and value
the notional value of United States physical bank notes in circulation ALONE is about 1.5 TRILLIONS of dollars
there are a little less than 17M bitcoins.
i'll let you do the maths. (at this point im not sure you are even capable of that though)
to illustrate how dumb you are let me point this out as well:
it's estimated there are upwards of TWENTY TRILLIONS of dollars stashed in offshore bank accounts all over the world. these deposits are considerably illiquid and such accounts are more often than not used to save money rather than spend it.
i'll let you work out the value of Bitcoin if it were to replace offshore accounts.
IF
Bitcoin replaced
ALL MONEY ON EARTH
Sure.
Now.
How many Crypto currencies are there?
Sure there's a limited supply of BTC but I'm just gonna guess and say there are a 1000 such "coins" already.
When this all shakes out. Why do you imagine BTC alone will replace all currency on the planet
And they are just inventing new 'coins' daily..?
Right?
okay. Your turn.
heisenburrr
Have Fun Staying Poor
No, that's if it replaces the number one reserve currency in the world, the USD.
The fact that there are hundreds of copycats is not relevant. There is no symmetry between them, they are not equivalent. The whole point of money is to achieve a network effect that increases the liquidity and valuation of a scarce asset until it can circulate in the economy as a medium of exchange.
Bitcoin is several orders of magnitude ahead of any other projects in terms of infrastructure development, liquidity, technology, decentralization, trust and longevity. The Lindy effect alone will likely lead to its capture of the entire market. The current speculative bubble is fueled by irrational money chasing gains that have never seen before. What we are seeing today is the beginning of a change of paradigm that will make the internet dot come bubble pale in comparison.
The end result will not be so different though. A small number of crypto will make it out alive when the whole thing come crashing down. The crypto equivalent of Amazon, Google and Apple if you will. I expect that one will capture the entire market for money and usher in a new monetary standard not unlike gold's but supported by information technology and therefore vastly superior.
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Ahh. So we agree.
And by that I mean you agree that this will settle into a form AFTER the spexultation period is over.
My prediction of the future has it ending up pretty similar to the present.
Your prediction is a vast change where USD is replaced by BTC.
I think we'll see Crypto in general price correct soon enough that we will be able to discuss it on here.
The other part where BTC either replaces the current basis for the global economy, or becomes one of the many options...
It'll take longer to know the answer to that but I'd say in the forseeable future my prediction is already in place. BTC is a potential player, but for now just one of the many.
Of course I can't say it'll *never* do this or that until *forever* has arrived. In other words: "*someday* BTC will..." basically lasts forever. Someone could say "*someday* BTC will.." in ten years and you'd still have to wait ten more years to even say "not yet". Then they say "someday..". You have to wait another 10 years to respond "not yet"
heisenburrr
Have Fun Staying Poor
The speculation is never over. There will be many other boom and bust cycles, as in any economy.
If your prediction of the future is that status quo remains then you haven't studied history quite enough.
Bitcoin has had many price correction periods over its own history and after 1000% gains last year your prediction of slower or negative growth is not very interesting or original