In my understanding, number of bitcoin users now is only 350,000, less than a million at least.
When it reaches 100 million, we are still in early adopter phase in global scale.
It is very important to realize that all growth has its limits, and the limit for bitcoin growth is that it replaces all other liquid wealth. That would lead the purchasing power to be in several million$ range. A more conservative scenario, that of replacing gold, would put the price at $300k/BTC.
When it reaches 100 million, we are still in early adopter phase in global scale.
It is very important to realize that all growth has its limits, and the limit for bitcoin growth is that it replaces all other liquid wealth. That would lead the purchasing power to be in several million$ range. A more conservative scenario, that of replacing gold, would put the price at $300k/BTC.
It's still at least a 1500-bagger
Good brainwash - $300k is now "conservative" as Chamath estimated $0.5-$1M...
Hehe, and people on reddit call each other insane for predicting $1000 by 2014. lol. Some clearly haven't grasped the enormity of what is hitting them yet.
Meh, it's a little disheartening to hear people think that way. They're clearly thinking along the lines of "That means my 50 BTC will be $50,000! No. Way!". But all that's saying to me is how overvalued $50,000 is to them, not how crazily Bitcoin is appreciating. Reminds me of being a kid visiting Italy, 1,000,000 lira was the equivalent of about $50. I've always understood since being that young that a million of anything makes you ask the question, "yeah, but a million of what, exactly?".