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While the network with no new participants is in some sense static, the participants themselves aren't. The income of most people tends to grow over time, which

While the network with no new participants is in some sense static, the participants themselves aren't. The income of most people tends to grow over time, which would imply an increasing demand for bitcoin from those participants. Since supply will become more and more constrained over time, while demand has no realizable upper limit (that we know of), this assumption is wrong: > Obviously bitcoin price won't grow to the moon and its price is limited by some economical factors. If bitcoin were to be fully adopted by the mainstream, BTCs would be easily in the M$ range.

vbezhenar 6y ago
So the question is: if bitcoin replaces US dollar as an international currency, what would look it like today? According to some Google searches, there are 80 trillion dollars in the world. Total Bitcoin supply is 21 million. It means that 1 BTC would be valued around $3.8 million or 277 times more of its current valuation. Currently bitcoin eats around 7.46 GW, so it'll become 2 TW. Current world energy consumption is 157 TW. So that's a rough estimate upper bound if Bitcoin would become our civilization currency of choice: 1.2% of total energy spent. Not the end of the world, if you ask me.
- wizzwizz4 6y ago
  1.2% extra energy spent.