This is a really difficult one for me to read. I don't know if it's tulipmania or an amazing new way of storing wealth.
There is definitely utility in blockchain technology. With bitcoin, the utility is that there a lot of people that believe it has value. It's also able to circumvent regulations.
How many people will purchase bitcoin in the future? How much will they spend? I wouldn't think a billion people would use bitcoin, but a few hundred million is believable.
Global GDP in 2030 ~ $100 trillion
Global population in 2030 ~ $8.5 billion
Average wealth per person, per year, in 2030 ~ $100 trillion/ 8.5 billion = $14285.71
Number of bitcoins in circulation in 2030 ~ 20 million
Currently, around .5% of the world's GDP is bitcoin. If this were to double by 2030, the price of bitcoin would be ~ $50,000. ($1 trillion / 20 million =$50 000) I think it's probably more reasonable to assume at least 2% of the global wealth will be using bitcoin by 2030, making the price of a single bitcoin to be ~$100,000
Of course, governments and banking cartels could wage war on the technology, which would most certainly have an impact on its value.
I honestly don't think they will do anything. They may try in the US, but the rest of the world still exists.
One thing that is difficult to predict is the number of bitcoins that are lost over time. This study found only around 20 million bitcoin addresses had more than $1. This means there are a lot of bitcoin addresses that have a large number of coins in them. Just a few days ago I heard about a guy who lost the password to account worth hundreds of millions of dollars. This would only increase the potential value of bitcoin in the future.
For these reasons, I see bitcoin as a valuable asset with incredible potential over the next decade. But it could collapse tomorrow. I really don't know.
Everything good either gets corrupted or hijacked by a small few to their gain and the littl guys lose.
It’s all a house of cards by now.
They buy low They drive it up. They cash out huge profits. They crash it. They leave us holding the bag.
Just my theory and I know nothing.
There is no system they won't corrupt. See also : a constitutional Republic.
You're absolutely right my friend. Rich and powerful people are greedy, power hungry, assholes.
I'm honestly hoping a solar flare wipes us out and forces us to be hunter gatherers again. I think modern civilization was a huge mistake.
I wouldn’t go that far but I understand your feelings. We are controlled by a small percentage of the population who are the worst of mankind.
Yet they got us fighting against each other because if we ever united against them it’s game over.
Good times create weak men, Weak men create bad times. Bad times create strong men, Strong men create good times.
We should be creating a lot of strong men these days.
The whole "satoshi" and btc thing has felt like an operation.
Probably to do what you mention as well as build coin interest.
Once they amass their short positions, Yellen will add some rules to drop it.
Treasury already said they are going after crypto "illicit use".
Fedcoin will want centralization, privacy for operations, etc.
They probably want it connected to a fedcoin rise somehow.