If it should reach that point that you have stated which is likely possible although not in the short term looking at beyond 10 years, then what will happen is the price of bitcoin would have increased as much as 100folds to what we have now and that alone does not mean countries will accept bitcoin as a form of currency as those who won't adopt won't still adopt and at the same time, it will not replace fiat.
Ok. I like your response. I'm not sure it would take 10 years to get to $80.9 trillion USD. I think it will take less.
And why do you think it will take less?
A 2000x increase in price from 2000$ is not like a 2000x increase from 1$.
From where will all those trillions to back the price up to those levels come?
Already the jumps are smaller and smaller in terms of percentage I
highly doubt it cant even force myself to believe it will reach 30mils/btc in less than 10 years...
I think it (the market cap. getting to 80.9 Billion USD) will take less because there is a "learning curve" associated with using Bitcoin.
I've been eyeballing and analyzing the year, monthly, etc.. interest rate. I understand there was a steep curve at first, but Bitcoin is now transitioning in the upward direction.
In the biological sciences, there is something called a doubling rate. This relates mostly to bacteria and other microorganisms. Bitcoin is like a biological pathogen (coinmap.org) in that it has an epidemological aspect to it (it's growing like a biological organism). The doubling rate is getting faster (4 months now?).
The interest rates are going to be ridiculous (up and away). Social change is going to be ridiculous. I've read the power behind it is greed (I'll argue people want to see changes THIS--right here and now--lifetime). As such, the here-and-now desire for social change is propelling Bitcoin. Given that there is so much technological output (ability to track how this thing is moving), it's growing at a very popular rate now.
Society is learning to use Bitcoin. Simple as that.
From my background in studying psychology and learning, it appears that the curve is taking the form of a learning curve, whereby exponential learning is occurring: Market psychology--people are taking to Bitcoin. Also, the methodology that Bitcoin uses is pretty legit and works with the law of entropy: The thing is that the whole system resides on Earth making it really easy to manage.
Furthermore, I've read of Bitcoin fitting onto an S-curve (source:
http://woobull.com/woos-law-of-bitcoin-user-growth-bitcoins-adoption-curve/).
Bitcoin isn't moving like a stock market ticker. It's kind of like a stock but only a very, very, very small amount.
...
I wonder how can Bitcoin reduce national debt? If a government does not adopt it or take advantage of the opportunities it brings?
I'm looking into this issue. Not many people are talking about it.
So far, I've been looking at the Federal Reserve print orders and looking for statistically significant decreases in print order value:
https://www.federalreserve.gov/paymentsystems/coin_currency_orders.htmhttps://www.federalreserve.gov/paymentsystems/coin_data.htmimage:
https://www.federalreserve.gov/paymentsystems/files/coin_calprint.jpgThe amount of national currency to be printed for a print-order should decrease each year (this is in relation to the U.S. national-level understanding), for what I understand, because Bitcoin is supposed to get rid of inflation, thus increase deflation, thus cause less money to be printed out until Bitcoin replaces that form of currency. If you look at 2009 to now, it appears that on average the value of money to be printed has decreased.
Interesting take but doesn't this fit under speculation? While you make good points this is all your own personal theory is it not? I think comparisons can be made between the originality and innovative ideas and technology behind bitcoin and a number of different things in a number of different fields of science. As another person who's been educated in the life/natural (medical/human anatomy, 4+ uni) I would say that your suggestion of bitcoin's growth to that of bacteria as a bit presumptive. There are also billions of types of bacteria and to my understanding over time any number of those strands can display anywhere from negative to exponential growth.