Post
Topic
Board Speculation
Re: When do goldbugs give up?
by
pitiflin
on 22/08/2018, 23:43:42 UTC
Most of the goldbugs are old, and have an old-fashion mindset, they hate tech stuff. And bitcoin would be "complicated" to them, not to mention that it is a "Ponzi scheme" or a "scam" in their eyes. Only a true goldbug would be able to convince other goldbugs that bitcoin is not like what they think it is, but its something else.

$1 trillion dollar market cap for Bitcoin is such an important and powerful statement, that it will definitely result in not only capital parked in Gold to shift towards Bitcoin, but pretty much all legacy assets will start bleeding to a certain degree.

After that $1 trillion dollar milestone the "slow" capital (the braver institutions, governments, hedge funds, royal families, etc) will start to massively inflate Bitcoin's price towards even greater hights. It would be a tremendous achievement when governments will finally start stocking up Bitcoin instead of just Gold.

It's actually quite 'easy' to see Bitcoin hit a market cap of $1 trillion. Bitcoin at $60,000 with a circulating supply of around 18 million coins at that point is only a matter of time. Realistically, we're just another bull run away from doing it.
That bull run, realistically might not happen. That would have to be a pretty darn big bull run. The current marketcap is like a 100 Billion $, we need 900 Billion more, and the world economy is not in a good shape. Why are people ignoring the fact that there is recession all over the world, and there's not enough money to feed people, even though there are trillions of dollars. For the 900 Billion dollars to get in bitcoin, it won't be easy, people have to believe in it, and there's no reason for them to believe in it, satoshi is no longer active in the community, his identity is unknown, markets are volatile ,and bitcoin is decentralized. People will never get the point of decentralization. Its so fucking not easy for bitcoin to hit a trillion dollar market cap. There's more to this than what it seems,and people need to understand that.