Re: $500,000 per Bitcoin, baby. The math behind it.

Yes, it will take a while to reach $50,000. Many years.

But it will hit $5000 within the next 6 months.

A sustained $5000/BTC price would drive mining to attempt to consume about 0.3% of world wide power production. That is a lot, but at least is it possible.

Everyone will get their old miners back out and turn them on again ;-)

This cant happen, even if the price is 10 k per bitcoin, old miners like gpus or usb will not make roi in years.