Hello.
I have created numerous threads asking people exactly how Bitcoin is supposed to reach the $10,000 mark. By what method. Pages of responses all say "We need to switch to mBTC, which will encourage more people to purchase BTC, which will in turn push the price up". Exactly how does "more people buying mBTC" push the price of 1 whole bitcoin up? Switching to mBTC won't necessarily do a thing to increase price of Bitcoin. In fact it may cause it to go down.
Switching to mBTC will actually act as a psychological (and literal) multiplier of increased availability. People no longer "need to buy 1 whole bitcoin". Instead of 100 people buying 100 whole Bitcoins, you could very well have 100,000 people buying subdivisions of 1 Bitcoin. And they could, theoretically all do so, at an unchanging price of $650 per BTC. If everyone can get a portion of a bitcoin at $650, there is nothing which will push the price of 1 bitcoin to $10,000. So why would switching to mBTC result in 1 whole BTC going up in value? I simply don't get it.
Its like offering a $10 pizza to a group of people. None of them can afford a whole pizza for $10. So instead, you offer them a slice each, at $1.00.
Guess what happens? 10 people now have a part of the pizza, and the price is still $10 for the whole thing.
Exactly how does offering slices of bitcoin make a whole bitcoin go up in value?
EDIT: removed discussion about scarcity.
Thanks all!
-BB-