Quote from: syaripudin on June 04, 2018, 02:01:00 PM

Quote from: xanmanluca on January 13, 2018, 07:20:02 PM

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 Roll Eyes

bitcoin as a decentralized crypto currency is certainly one of the factors causing the government to be unwilling to adopt bitcoin as the official currency. so I think to achieve as everything you say would be very difficult. because I think how many investors will invest in bitcoin but in government authorities it is impossible to let fiat currency disappear or not worth at all. so I think the right thing maybe should be between bitcoin and fiat currency should keep running side by side.

That idea of decentralization is something they obviously will find very hard to absorb in their head. Centralization has been a norm for them and giving that up for decentralization is one thing we all know is impossible.

That does not stop bitcoin from still acting as a currency in the long run with its own market and users, but fiat in a way will still remain and we may end up having some co-existence in the long run just as you have said. In that way, everyone is happy.