2 ms·
What happens when the price is so high that it cannot be used to purchase food? I guess it could buy a higher echelon of assets. But what demand is going to dri
by blockwriter 5y ago
What happens when the price is so high that it cannot be used to purchase food? I guess it could buy a higher echelon of assets. But what demand is going to drive the price if the currency cannot meet basic needs? Can demand drive price if a commodity is entirely illiquid?
- tinus_hn 5y agoYou can divide one Bitcoin into very small parts, the smallest 1/100000000 part of one. The bigger problem is that the transaction fees are much too high to buy small things.
- blockwriter 5y agoThat's a good point that I didn't articulate and understanding of in my comment. I guess I meant more so that if the price gets higher and remains high, then its holders will not or are not selling, and I wonder if how long this illiquidity could sustain the price of bitcoin.