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Not sure if this is true but I heard that currently less then 1% of the world population holds bitcoin deposits. Only a handful of people are holding large bitc
by _pdp_ 9y ago
Not sure if this is true but I heard that currently less then 1% of the world population holds bitcoin deposits. Only a handful of people are holding large bitcoin deposits. Now if you believe that Bitcoin will get widely adopted then why is it so difficult to believe that the price will go up? And why do you care how much a single bitcoin is worth? As if we are going to be trading in whole bitcoin numbers. Fractions are perfectly fine and if you have problems with them just use multipliers.
Apart from the lack of legal structures, is Bitcoin that different from bonds or holding stock options which you bought for pennies? Alaska was purchased for mare $7m in 1960s which is worth $100m in today's money. You no longer can attach a price for Alaska because it not for sale but it is certainly worth a lot more. Similarly, Bitcoin is by far the largest wealth distribution most of us will experience.
Now you may disagree that with the fact that Bitcoin is currently traded for prices way above to what it used to be worth 6-7 years ago but similarly from the 1960s to 2017s the average inflation is about 1430.1% Keep mind that the 60s were neither globalised nor connected as much as today. And in a global, connected world everything happens at much faster pace.
Btw, I am not an economist, neither I claim that I have a good grasp of cryptocurrency. I just have an opinion :) and that all it is.