Post
Topic
Board Bitcoin Discussion
Re: The Case for a $10,000,000 Bitcoin
by
odolvlobo
on 23/02/2021, 17:46:07 UTC
An article I posted on Medium.

The Case for a $10,000,000 Bitcoin
https://nicholasbridgewater.medium.com/the-case-for-a-10-000-000-bitcoin-92a889a17ba6

Best regards,

NJ_B

The article just repeats what other people have written elsewhere. It does not add anything new. Most of the article is fluff.

The meat of the article justifying the $10 million price is based on flawed assumptions, misconceptions, and ignorance of basic economics.

Quote
Each halving is followed by a ‘supply shock’ as the supply fails to meet demand and buyers bid up the price of each Bitcoin until it reaches multiples of its pre-halving price.

The halving does not cause a "supply shock". The production is cut in half but the supply continues to increase every 10 minutes.

Quote
What follows is a bull run that lasts for about a year or so, followed by a bear market. These four-year-cycles draw in more Bitcoin users and holders with each iteration.

Contrary to popular belief there is no four-year cycle and there is no correlation between halvings and price increases. Those that make these claims are cherry-picking the data.