Many people discuss the price of bitcoin in the future. And some of them even state outlandish numbers. The problem with all of this is no one can really talk about how high it is going to go. The numbers do not compute. The numbers make no sense. And there will be nothing but bitcoin to measure the value of bitcoin against.
We have never had an actually, provably rare commodity. We have never had an un-counterfeitable currency before. And we are about to be faced with the fact that we do not know what the value of our assets are.
"To Boldly Go Where No Man Has Gone Before", that is where bitcoin is right now
Just a few years ago, a certain highly placed person said that there was a LOT of money missing from the pentagon budget. Like 21 trillion dollars missing.
The next day, two aircraft crashed into buildings causing 3 buildings to collapse and 7 buildings to be damaged beyond repair. Also, a "plane" crashed into the pentagon, destroying the file cabinet that had the records for this 21 trillion.
Lets put this into perspective:
21,000,000 bitcoin
21,000,000,000,000 missing from Department of Defense Budget
If bitcoin's value was equated to the amount of missing money, that would be $1 million dollars per bitcoin. And this isn't the entire DoD budget, this is just what is unaccounted for.
The numbers just keep getting bigger
This seems to have been planned. This is a significant point in bitcoin's rise to power. Where a satoshi is equal to a penny.
People are really looking forward to $100,000 bitcoin. And those parties celebrating that will probably be later this year.
And, after that, $1 million dollar bitcoin is assured. (but when? This bull cycle? In 4 years?, Will bitcoin stop having a bear cycle?)
However, $1 million is small potatoes when talking about the money being moved around the world right now. And it is nothing at all when you consider the money that is parked in derivatives.
Can we even discuss the bitcoin price when it starts actually being used for world trade settlements?
After a million dollar bitcoin, bitcoin's price will get hard to measure.
No one will trade bitcoin for The US dollars.
And, even if we had exchanges still tracking bitcoin/USDT it would be meaningless as The US dollar loses value extremely rapidly.
Assuming that bitcoin keeps up with inflation, if inflation is 10% per month, the price of bitcoin will be going up 10% per month, even in a bear market. This is why we may never see bitcoin in a bear market again. There will be bull markets and super-bull markets.
The US dollar will become less and less of a measuring stick.
And the only things i can see being used as a measuring stick are:
And i really have no idea which one(s) will be used.
I have a suspicion that XRP will be used by the (failing) MSM
I believe some group will use gold (i am sure you know there names)
But a great deal of people will just consider 1 bitcoin = 1 bitcoin.
The biggest thing we are missing here is what will the actual eco-system look like?
Will it be bitcoin and lightening network?
Will it be bitcoin and litecoin and dogecoin and bridge-chains?
Will it be bitcoin and XRP?
There is a real possibility that everything gets priced in milli-sats or pico-sats, but no one (below corporate CEO) actually trades bitcoin.
We will see. It is going to be a fun ride.
@aggroed long ago in the before time