Posted: May 23, 2019 11:38 pm
by jamest
Oh, the third point, which I failed to address, is that yes Btc is currently valued in terms of US dollars, the value of which will eventually implode upon itself, thus making the value of Btc skyrocket as everyone gets the fuck out of fiat, quick. (Precious metals will skyrocket too)

I'm not here arguing that Btc IS the new fundamental currency of the world. I'm here arguing that it will become so, probably within a decade. At the most, two.

You can continue to laugh and scorn, and yes Btc has had its ups and downs, but within a decade the technology associated with cryptocurrency has improved massively and the price of Btc has been generally astronomical compared to its initial price. Indeed:

At the very beginning, Bitcoin naturally started out quite slow. After the mining of the first Genesis block of Bitcoin in January 2010, it started taking baby steps. On 5th January, 2010, its first course towards exchange dollar was published at 1 USD being equal to 1309.03.

Around this time, 1000 Bitcoins were trading at about 0.3S which pegs the price of each Bitcoin at 0.00003. In the same year, Bitcoin was used to purchase Papa John’s pizza. 10,000 BTC were used to purchase something worth 25 US dollars, which pegs the value of each Bitcoin at 0.0025 cents. ... n-history/

So, 9+ years ago bitcoin was at $0.00003, and now it's a shade under $8000, and yet Thommo can't believe I'm predicting that Btc could rise to about 100K in about 2 years.

Some people just have trouble reading the numbers, obviously. :nono: