Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
rolling
on 12/12/2017, 23:57:24 UTC

I dont think you understand how much fiat money has to be put into btc for a 1 million valuation.

I think people overestimate how much fiat it will take to go up another 60x. Here is a thought experiment:

What if the decimal place was moved in bitcoin to give a 1:1000 split? If collectively everyone used the term bitcoin for the unit of value we currently call a millibit or mBTC making the total eventual supply 21 billion instead of 21 million, the price currently would be ~$16.70.

How hard would it be to pump it over $20? Would it be that hard to get to $100 again for an equivalent $100,000 value or $1000 for an equivalent $1,000,000 value?

2 years might be a little soon but who knows?