regardless of ideology, if bitcoin is to replace traditional forms of currency, each bitcoin will need to be valued (using traditional dollars as a comparator) at $476,000 dollars.
There is currently $10.5 trillion USD floating around the world (based on M2) and with a max of 21 million bitcoins its an easy division.
Governments cant freeze bitcoin? Naive in the extreme, governments can 'freeze' people thus having the same effect. Bitcoin is NOT a redistribution of wealth, its a transfer of wealth and like any form of wealth, those who have the most have the power, and power is a much more valuable commodity than any form of currency.
Its power that needs distributing, to people with responsibility and ethics...none of whom appear to be the greedy, Lamborghini driven 'traders' of the crypto age.
Great post ! best wishes and keep writing :-)
You are viewing a single comment's thread from:
@nathen007 (40). You make some great points. The government can freeze people. They can take your bank balance. The good news is that when they “un-freeze” you 2 years later, your bitcoin will still be there and it will be worth $476’000.
However, I think you are wrong to use M2, unless you believe bitcoin will only be useful as a future currency. If, instead, it becomes a store of value, / gold 2.0, , then you should use some percentage (e.g. 2%) of the other stores of value, like stocks, property, bonds and gold. You will certainly get a much bigger number.