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> It's quite possible in 20 years that 0.000000000001 of a bitcoin will make the average house payment No, it isn't.
by 659087 9y ago
> It's quite possible in 20 years that 0.000000000001 of a bitcoin will make the average house payment
No, it isn't.
- hndamien 9y agoThats a bold claim given the history.
- 659087 9y agoNo, it isn't.. and I sincerely hope you're joking. You should do the math on that and figure out what the value of a single bitcoin would have to be to make it come true. If that doesn't wake you up to how ridiculous that claim is, I don't know what to tell you. I'll even go incredibly easy on you and let you assume the average mortgage payment is only $100. Hint: it's a number larger than the US GDP It's somewhat terrifying to me that I even have to argue this with someone.
- hndamien 9y agoOK, I didn't do the math. Thanks for the correction :). Turns out - lets ignore your generosity there, that we are realistically talking around 1000 trillion. National debt is at like 14 trillion. Chinese M1 money stock is 7 trillion. Now at the current growth rate, which is unreasonable to continually sustain, could continue to be high for a while, and you can't ignore the incredible growth of the global narrow money stock - https://data.oecd.org/money/narrow-money-m1.htm#indicator-chart https://data.oecd.org/money/narrow-money-m1.htm#indicator-ch... (10x in 15 years - 62x for Turkey in 20 years!). So I'll agree with you, highly, highly unlikely - but not at all beyond the realms of possibility - given what appears to be highly improbable (yet predictable history).