I completely understand what you're saying, however how do you see it possible for a bit going to hit its highs 50 or $100,000 per coin? There are so many coins in existence and if you take that 50 or $100,000 multiplied times the number of Bitcoins available, it would equal to more money than was available in currency in the world put together. Any thoughts on this? Or do you think that this is when they will crash and burn?
Do the math. The global base money supply is something like $14 trillion. 21 million bitcoins @ $100,000 is only $2.1 trillion.
That does make more sense than my math. I am not sure how I cam up with over double that amount. Nevertheless, even at those prices, that is putting a lot of the currency currently in circulation at risk of being obsolete. I am all for it, but I do not think the world economy wants this to happen. To many people do not trust the new currency.