This is one of the reason why people buy ripple. They just a cheap coin and think they can make better returns. They don't understand market caps and total supply...
Bitcoin has already buckled under traffic congestion well before 20K so unless if finds a solution to the scaling problem (as in LN, Schnorr sigs, Liquid, etc) 1 M isn't realistically possible. Maybe in a couple of years LN will have solved this issue, but until then 100 - 150K is probably the upper limit.
it depends, I mean it depends on how much our fiat currencies are worth
like
1950s people earning $100 per month were like the kings, now earning $100 per month will not be acceptable. Also think about hyper Inflation in Germany
well I wish this never happens but it might be a possibility :)
The way they're printing fiat currencies, it's already begun, in fact inflation is one of the FED's publicly disclosed targets. The only reason it hasn't hit yet is because the money velocity is flat lining, because our economies are in deep water. But it will hit, you can't print X trillions of $ and not cause inflation. The yield curve of bonds is flattening out, this historically precedes a stock market crash. What I haven't determined yet is what impact this might have on cryptos. In the scenario of hyperinflation, yes the $ valuation will rise to keep up with the loss in value with fiat (thus meaningless in purchasing power) but it is a possible scenario that cryptos like precious metals will be seen as a safe harbour for funds, giving a boom to crypto. The less tied that crypto is to the mainstream banking economy, the higher it is likely to go.
As Bitcoin price rises, people will stop looking at BTC in terms of "Bitcoins" (full Bitcoins), and will instead look at BTC in terms of "Satoshis" (fractions of a Bitcoin). This will likely start really happening well before the 1mil level.
I couldn't hold this morning. Went for Litecoin at $219. I am expecting a possible big selloff Sunday evening, as people lock in year-end tax losses. This was my second purchase ever. That Coinbase spread is a killer.
Hey, I've followed you on screwtube, I just joined Steemit. ..re the vid. I don't think Bitcoin will get there barring a hyperinflationary event in fiat. It would have, but it's Wall street's new toy, look how they are playing with it! They've ruined it! ...Despite that, it's true many of my friends who aren't into cryptos are surprised that you don't have to buy a full bitcoin. But really I think the writing is on the wall for Bitcoin. It's run badly, it's run like a democracy and that doesn't work, look at our countries and the criminals that lead them. The Cryptos that are run by benevolent dictators will steal the show from Bitcoin. Bitcoin left it too late to make the necessary improvements for it to keep up in the market. It may go up to the high $00000's but that is now in the hands of wall street and whatever suits their futures. No real price discovery anymore. So anyone who buys into Bitcoin at $1000000 would either be a sucker, or have a good understanding of what wall street is planning for it.
It's weird that people can't fathom fractions. I never even realised this was a perception. I mean, look at dollars. You don't have to buy everything in dollars. Some stuff only costs cents. :)
This is one of the reason why people buy ripple. They just a cheap coin and think they can make better returns. They don't understand market caps and total supply...
Bitcoin has already buckled under traffic congestion well before 20K so unless if finds a solution to the scaling problem (as in LN, Schnorr sigs, Liquid, etc) 1 M isn't realistically possible. Maybe in a couple of years LN will have solved this issue, but until then 100 - 150K is probably the upper limit.
it depends, I mean it depends on how much our fiat currencies are worth
like
1950s people earning $100 per month were like the kings, now earning $100 per month will not be acceptable. Also think about hyper Inflation in Germany
well I wish this never happens but it might be a possibility :)
The way they're printing fiat currencies, it's already begun, in fact inflation is one of the FED's publicly disclosed targets. The only reason it hasn't hit yet is because the money velocity is flat lining, because our economies are in deep water. But it will hit, you can't print X trillions of $ and not cause inflation. The yield curve of bonds is flattening out, this historically precedes a stock market crash. What I haven't determined yet is what impact this might have on cryptos. In the scenario of hyperinflation, yes the $ valuation will rise to keep up with the loss in value with fiat (thus meaningless in purchasing power) but it is a possible scenario that cryptos like precious metals will be seen as a safe harbour for funds, giving a boom to crypto. The less tied that crypto is to the mainstream banking economy, the higher it is likely to go.
As Bitcoin price rises, people will stop looking at BTC in terms of "Bitcoins" (full Bitcoins), and will instead look at BTC in terms of "Satoshis" (fractions of a Bitcoin). This will likely start really happening well before the 1mil level.
Not me
I like the new smooth outro music, but I also liked the fact that you ended your end-of-year review with the old one. Last Jodel of the year!
Right now .. we should all sit tight till this crypto decline stops . I hope we get back on track in 2018
I couldn't hold this morning. Went for Litecoin at $219. I am expecting a possible big selloff Sunday evening, as people lock in year-end tax losses. This was my second purchase ever. That Coinbase spread is a killer.
very good and very interesting articles
I really like
Thanks! I think if we reach that level, there might be even more finite units of measures that will be defined.
You are right, but I think totally rely on future is not good for us. we have some portion for future, some for past and rest for present.
me me me.
People who invent these stupid arguments have no idea :D
Hey, I've followed you on screwtube, I just joined Steemit. ..re the vid. I don't think Bitcoin will get there barring a hyperinflationary event in fiat. It would have, but it's Wall street's new toy, look how they are playing with it! They've ruined it! ...Despite that, it's true many of my friends who aren't into cryptos are surprised that you don't have to buy a full bitcoin. But really I think the writing is on the wall for Bitcoin. It's run badly, it's run like a democracy and that doesn't work, look at our countries and the criminals that lead them. The Cryptos that are run by benevolent dictators will steal the show from Bitcoin. Bitcoin left it too late to make the necessary improvements for it to keep up in the market. It may go up to the high $00000's but that is now in the hands of wall street and whatever suits their futures. No real price discovery anymore. So anyone who buys into Bitcoin at $1000000 would either be a sucker, or have a good understanding of what wall street is planning for it.
It's weird that people can't fathom fractions. I never even realised this was a perception. I mean, look at dollars. You don't have to buy everything in dollars. Some stuff only costs cents. :)
I cant wait for the daye when people think your joking about having a bitcoin