Post
Topic
Board Bitcoin Discussion
Re: If Bitcoin been backed by Dollar then what will happen if the Dollar collapsed?
by
Alpha Marine
on 05/06/2024, 14:37:21 UTC
zero phyiscal value, what gave it a value is demand and supply, the more people want it the more price it gain.

Now you're making sense with this. Demand and supply rule everything. If nobody wants bitcoin it would be worthless, if nobody wants Tesla or Apple stock it would be worthless even if they're back by something. If nobody wants gold it would be worthless. Demand and supply. Why do you think most altcoins remain less than $0.005 all their lives? Simply because nobody wants them.
So don't say bitcoin is backed by the dollar when you know that it's back by demand and supply.

and this is where Satoshi master plan will come to real, once the last Bitcoin mined (92.5% of the Bitcoins are already mined) there will be no more supply but only demand, Bitcoin's price might get to 200K per one Bitcoin meaning that Satoshi will be the rich enough to buy an entire country.

If I had to Guess I'd say his plan is to create a utopia for smart people

2140.
That's not just a number, that's a year. That's the tear the last bitcoin will be minded. That's 116 years from now. So let's assume Satoshi was 18 when he created Bitcoin in 2009, he'll be 33 now. I've never been so good at maths but if my calculations are correct Satoshi would be 149 years in 2140.
So except Satoshi is one of the Salvatore brothers (most likely Stefan), I don't see how he'll be alive to make so much wealth and create a Utopia country for smart people.