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RE: Bitcoin Speculation: Moore's Law
It can't go parabolic forever. Once it starts hitting certain valuation, other coins such as litecoin will become more popular as they'll be more affordable to the average user.
If people just hodl bitcoin and don't actually use it then I think it will lose out in long run in popularity and the price will come back down. Do I think bitcoin price will rise, yes. Do I think we'll ever see multiple million dollar bitcoin, no.
Don't get me wrong I'd be ecstatic if that happened, but there will eventually come a point where it's not worth it and no one is willing to pay that much.
This is unit bias.
The idea that we have to buy a full coin is a grand fallacy.
Using the same logic I could tell you that one dollar buys 27000 Satoshi.
What an amazing deal amirite?
In addition, this isn't parabolic growth, this is exponential growth, which is much much stronger than parabolic.
parabolic: x^2
exponential: 2^x
Moore's Law has been going strong for 50 years now, so the idea that Bitcoin can't keep doubling every year because it just can't isn't really founded on anything except the gut feeling that exponential growth doesn't really make sense to us.
If Bitcoin had the same market cap of gold (7.8 trillion) each coin would be worth $446,000. In the opinion of many, Bitcoin's value far exceeds gold. This is smart money we are talking about. The sky is the limit. Power over money and the corruption it breeds is about to come to an end, and the value of that is priceless.
Thanks for the clarification. Has any other Stock or Market followed this growth before? Not to say Bitcoin couldn't be the first to do so.
Quite right. No other asset has even come close.
However, at the same time, no other asset can scale.
A stock can't scale because the people in charge of the corporation will sell out.
Fiat can't scale for the same reason.
Centralized power structures become top heavy and topple over as they continue to exploit the ones who lack the power to defend themselves. Ironically those same people being exploited are the ones keeping the system afloat. We've created these power structures that basically cannibalize themselves by design.
The Bitcoin of today will be nothing like the Bitcoin whose value is a million dollars. This is programmable, open-source, smart-money. It will evolve over time. However, you can buy it today, throw it into cold storage for ten years, and spend it a decade later with all the new upgrades, features, and infrastructure.
Imagine being able to buy a computer that develops itself. It makes it's own CPU, GPU, RAM, and storage space better while just sitting on your desk. That is what Bitcoin is: Money that will develop itself for free while you hold it.
Bueno he aprendido mucho en el debate y veo que sabes del temas y la tecnología en la que se basa bitcoin y eso es bueno porque aportan algo muy valioso que es la información. Pero todo esto sucederá mucho mas rápido si nosotros como individuos trabajamos en nuestro entorno y dar a conocer a otras personas y que se empiecen a interesar e ingresen al esta revolución tecnológica.