Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
MahaRamana
on 29/11/2013, 06:41:25 UTC
look im just saying, the only reason why people think btc can go to $10000 is because if enough people start using it so much that it becomes accepted everywhere, such that the only reason why it would be worth $10000 per BTC is because fiat would become essentially redundant or worthless.  

I don't think so.

If fiat would become redundant or worthless due to bitcoin success, we would be looking more into  $10 000  per mBTC rather than $10 000 per BTC ($10 million per BTC)

But that would be measuring using today's USD purchasing power. If USD becomes worthless and redundant, nobody will give a mBTC even for $10 million... So in this extreme scenario you need to use another unit of value. 1 ounce of gold is quite good.

I don't see fiat becoming redundant tough. That's an extreme scenario.