> You can't know. For those who are saying it is obviously a bubble: If bitcoin "succeeds" and becomes widely used as money, then its value will grow a lot more

> You can't know. For those who are saying it is obviously a bubble: If bitcoin "succeeds" and becomes widely used as money, then its value will grow a lot more, since there can only ever be 21 million bitcoins. It is inherently deflationary. One bitcoin is worth, roughly (and circularly) speaking, the total valuation of bitcoin divided by the number of coins. Another way of looking at it: imagine bitcoins become as widespread, and as desired, as USD. Now think about how many USD are in circulation compared to BTC. This doesn't make sense. More precisely, your argument for why its value could grow more doesn't make sense. You're comparing incongruent units when you should be comparing per-unit value. 1 BTC is not an indivisible unit, it's just the most widely used unit. Similarly, we have $100 bills, $50 bills, etc despite $1 being the most widely used. We could also use pennies or nickels if the value of a single dollar far outstripped its ordinary utility for commerce. The feedback loop you're suggesting would not occur because as the value of Bitcoin grew, each atomic slice of a Bitcoin would simply increase in utility as the new benchmark unit. With 100M satoshi per 1 Bitcoin, we're not in any danger of Bitcoin's valuation increasing just because there is a limited supply.