So I was thinking.
According to Google, the 2013 estimates of total m2 money supply in US was 10.5 trillion. So if I owned 1 usd today that would be a so a very small percentage of the total number, yes?
But I can own 1 bitcoin today and that means I can own 0.0000048% of total btc supply..
If you think about it, 0.0000048% of total US m2 money would be 504,000 usd.. half a million
So can we say that 1 Btc = $500,000?
Lets discuss..
be aware of the answers here...its much better to speak with expert economist,,,or smart people...
some here say demand its what important which is not so right... demand or not what is important is what the max supply in everything* after this you can know how much demand need to grow the price,,,without max supply or huge supply demand its waist of power ask economist
some say its not the same like paper money very wrong....its money and store of value in the same point which more great then paper money...
if it will replace money paper the answer is yes and it will happen fast...remember my words.
you are right in some sort of level because demand is nothing if there is no max supply or to much supply.
there are criminals that know to fake paper money one on one...all around the world..
1 btc can worth astronomical number and i mean it,,,every smart economist know this....
price is grow by supply and demand but if the supply parameter is to much and can be faked easy and printed you can forget about demand....
its like to fuel car while there is hole in the car and the fuel basically cannot fuel the car, the same with money....to much supply and it can be faked by criminals and can be printed by governments , all the bad factors in one point so in other words smart economist will say you forget about demand there is hole in the system/car....
the money paper lose value over time, and crypto speed up the process and criminals print more money now to get as much possible crypto .