Just don't forget these words by Hal and you all will be good.
"With 20 million coins, that gives each coin a value of about $10 million."
Hal was a smart guy, but he arrived at that number through faulty economic reasoning.
Well no economics was involved.. he just did the math and it's correct.
He literally said he thought the total value of the currency should be equal to the total value of all the wealth in the world.
Which is nonsense. It is not because something is being expressed in a unit, that that unit needs to expand to whatever is being measured. For example, let's say I measure the length of my furniture by comparing to the length of my thumb. Why would there then need to be as many of my thumbs as there is furniture in the world? If that sounds strange or weird, that is because it is weird and nonsensical.
Money is just an asset class on its own, which takes up a certain portion of total wealth in the world.
sauce :
https://twitter.com/DrBitcoinMD?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1165004233663496197%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.cryptopolitan.com%2Fhal-finney-bitcoin-price-prediction-10-m%2FI like bullish BTC price predictions as much as the next guy, but if we just switch off our critical thinking whenever somebody says something nice about bitcoin, we are more of a religion or cult than anything else. Which is not needed imo, as the realistic scenario for bitcoin holds plenty of upside and promise.
And yet, it's always the crazy over the top predictions that turn out to be right.