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RE: Bitcoin & Cryptocurrency: Bubble or Not - You Decide: Panel Debate & Questions

in #bitcoin8 years ago

I see all these forecast for Bitcoin, which may seem crazy, but the thing about this space is, it's so new, it's evolving everyday and we haven't even scratch the surface of it's potential...so it's hard to discount it's future valuation at the moment...$250k for bitcoin might be a very fair price in the years to come.

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Right, there's really no reason to ever be surprised by any number. Like when it was $1, it would seem mind-bending to think of it as over $10,000; it would have been wrong to imagine like $5 as the point it could get to.

Maybe the marketcap of all global fiats, and whatever that would translate to per bitcoin, would be a decent baseline for the eventual price.

But even that could be low in the sense that fiat can't be trusted long-term and maybe more people would hold currency (rather than i.e. flood the stock market) when you can trust it.

Maybe super long-term, currency stops being as important, when there's more self and community sustainability. (If you have everything you need and can swap tomatoes for cucumbers with people directly, there's less need for currency.)

Constantly more people are being born tho and maybe eventually there are machines who become economic actors, so there's that going in the other direction.

Lots of different effects, but imo no number should be really shocking.

And really, when scarcity is gone or mostly gone, our whole relationship with money would probably change. Having a gazillion dollars would probably just feel like a "head start", like the only point of having it is to creatively deploy it. There's no need to sit on it and think about planning and security and whatnot when basic resources are always provided. You just fire, it's like coins in a video game or something, you don't think about it in the sense that you want to stockpile them just for the heck of it.

we haven't even scratch the surface of it's potential...so it's hard to discount it's future valuation at the moment...$250k for bitcoin might be a very fair price in the years to come.

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