What bitcoin has done in the past has proven that it is a legitimate place to hold and build wealth (I always like to think of it as gold). the market is ranging between .5-.8 trillion. Experts all have no doubt it will reach 5 trillion, and a lot of experts even say that it could and maybe even will be worth 1 million dollars one day.
So for the purpose of this topic, lets just assume all this is true and here we are 2 years later and bitcoin is lets say 100k.
Everyone is freaking out because they fear the value of the dollar and other paper currencies will go down.
So there has to be a point in this transformation of worldly currency, that the value of bitcoin begins to overall outweigh the dollar in a way that its not worth holding anymore and should be invested into assets because from then on out holding bitcoin would have the value of a lot of dollars but because of that the dollar wouldn't be worth anything...so then at that point what would the bitcoin value even be based upon?
Do you guys think that (assuming everything i say becomes a reality) that it would get to a point where you'd be better off investing your bitcoins into assets because it has no more room to grow since the US dollar (and other paper currencies) at this point has become almost irrelevant?
Just a thought i had today and i thought it was interesting and that i'd share with you guys.
P.S. is there anywhere i can change my user? lol
So for the purpose of this topic, lets just assume all this is true and here we are 2 years later and bitcoin is lets say 100k.
Everyone is freaking out because they fear the value of the dollar and other paper currencies will go down.
So there has to be a point in this transformation of worldly currency, that the value of bitcoin begins to overall outweigh the dollar in a way that its not worth holding anymore and should be invested into assets because from then on out holding bitcoin would have the value of a lot of dollars but because of that the dollar wouldn't be worth anything...so then at that point what would the bitcoin value even be based upon?
Do you guys think that (assuming everything i say becomes a reality) that it would get to a point where you'd be better off investing your bitcoins into assets because it has no more room to grow since the US dollar (and other paper currencies) at this point has become almost irrelevant?
Just a thought i had today and i thought it was interesting and that i'd share with you guys.
P.S. is there anywhere i can change my user? lol
I think in this world where the dollar looses its value would mean that bitcoin would be way more likely to become a reserve type currency with a strong store of value so I suppose its a case of what your goals are, if your investing to see 50x gains then I don't think btc at that point of real estate will be the right investment for you. To be honest I think we are very lucky to have been alive and involved when a new market is emerging. These are the things that will be discussed by future generations, the way we talk about the gold rush or the initial stock market bubble.