The problem is adoption is not linear.
And we are moving into the early adopter phase.
I am fairly sure we will hit $100,000 bitcoin by the end of this year.
Or, in other words, we need to add to that logarithmic chart above the loss of purchasing power of the dollar, which will make it a log-log chart.
Cryptos are going to become so valuable, that everyone will be mining on whatever they have. Thus the mining chart is going to see a huge influx of difficulty, that is not accounted for.
And i mean, cryptos will be sooo valuable, as in, it will buy groceries when your (insert fiat) won't.
Well if bitcoin were to hit $100k within the next 5 months, as you say. You are right, I would hate to see what the dollar can buy at that point. Sounds like you are calling for a fiat collapse as soon as this year?!
I do not feel we are going to see a fiat collapse... we will see more slow burn. (I expect 12-20% inflation in food prices), but i do expect some banks to have big problems.
It is so really hard to see. By all old measures, we should have had a fiat collapse already. But, something is holding it together, and something is keeping cryptos from getting squashed. Slowed down, yes, but squashed, no.
But really, what will be the big game changer is when the huge wave of stores accepting cryptos happens. That will change all of the graphs.
That is likely true. I imagine that is why they use a logarithm chart in the first place, to help smooth it out a bit. The price increases are certainly not linear, though it was interesting to hear Tom mention that bitcoin tends to trade roughly 2.5x the cost of mining since its inception. That would imply that investors are not speculating as blindly as some think. There is some rational to when they buy and sell.
That was my number exactly lol. See my comment about the gallup poll that just came out.