Store of value is the real use case. Being slightly better at exchange than the Visa network or Fedwire doesn't mean much. The real honeypot is replacing real estate, gold, and equities as the primary store of value for the world's wealth.
Almost nobody needs bitcoin to perform transactions. Nearly everyone already has an adequately functional transaction network they can use. What nobody has and everyone needs right now is an asset that does not depreciate or suffer entropy over time. Bitcoin is that asset and there's trillions upon trillions of dollars in unded-preserved capital that will rush to it as people realize it.
What is the max price BTC ever will be? We know the supply side already. Can't we calculate a theoretical max assuming everyone in this world will buy X amount? EDIT: from 4 years ago.
There is no max, because fiat can be infinitely printed. There's a popular saying about this, "bitcoin has no top because fiat has no bottom". The question is not "what is the max", the question is "when do we stop counting value in fiat". 1 bitcoin will only ever be worth.... 1 bitcoin.
I have bitcoin. I have had it for many years. I don't have a ton, and its gone up and down a whole bunch, but I just leave it alone. Also please explain how the original bitcoin network can work as currency when it supports 7 tps? If you were a true believer you should have 10s of millions of dollar. Why do you still post so often on this message board?
The 1st layer by itself can never serve as a currency for that reason alone. But A) who gives a ****? Currency is not the most important use case and B) we already see 2nd and 3rd layers stepping in to make this happen (just like fiat did and continues to do). Being rich doesn't preclude participation on this BBS. Hell, if anything, it probably leads to more engagement here.
Layer 2 like lightening and fedimint. Also the idea of using Bitcoin for a medium of exchange needs nuance due to the Greshams Law theory.
That's anyone's guess. I'm not really interested in the answer either, tbh. I don't really care if fiat comes or goes. What I care about is Bitcoin eating the all the world's capital, which it is doing. Whatever we trade with, be it fiat or some BTC layer additions, doesn't really make much difference to me. The base layer of money being incorruptible is what is important.
There are those who believe Bitcoin will last forever or number will go up forever. The longevity of Bitcoin is pure speculation. The idea people will be mining and maintaining the network for centuries is a bit nonsensical at this point. Most Bitcoin people believe Bitcoin will be around for the remainder of the life and years to come. Its a bit hard to speculate on price when they believe Bitcoin will outlive most currencies, or at least, taking in account of the devaluation of said currency.
Outside of number go up and a great hedge against the dollar, too many things that legitimize it doesn't add up yet in the long run. The relatively small amount available for sale makes the price very prone to manipulation.
I don't really see any need for a new monetary network beyond Bitcoin. You only need one perfect money. Anything else is superfluous, and these things trend to one. I feel completely comfortable saying that Bitcoin is the last money our species will ever use. The 'how long will Bitcoin last' question to me is entirely dependent on however long our species lasts.
Small amount available? not sure what you mean. You can buy a fraction of a pennies worth if you want. 2,100,000,000,000,000 sats in total. Hows that small?
The amount of BTC available for sale is perpetually shrinking, which is by design. The volatility caused by that is a feature, not a bug.
Whenever this stuff started 20? years and 400 pages ago I was quite skeptical, but threw a little play money at it anyway, solely because you were a proponent (I mean that literally). Now I wish I'd thrown a little more at it. So thanks. I owe you a lunch at minimum.
I was late to the party. I didn't make my first purchase (that I held on to) until 2019. I don't think I started publicly evangelizing for it until like 2021.
Sure but at current price i can buy a pennies worth so how can one say a 'small amount is available'. Van gogh paintings have a small amount available not btc
I agree it's nonsense. Bitcoin's volatility has only gone down over time. https://www.coinglass.com/pro/i/bl
