Topic: Bitcoin’s Substantive & Technical Road to $100K (Read 124 times)
If you do find out when it's about to hit that mark do let me know please
$100K is the magic figure for all Bitcoin enthusiasts. A lot of predictions have been made, mostly random without much substance. This article explains how Bitcoin’s substantive & technical road to $100K would, not an investment advice, but still better than random predictions.
1. Offshore bank accounts and the first unseizable asset.
Bitcoin as a store of wealth. Assuming there are $13.5 trillion hidden in offshore bank accounts, if 2% of this wealth gets reallocated to bitcoins, that would make for a price of $16,038.43 per BTC.
2. Gold market share and decentralized store of value.
The same utility, store of value and getting gold market shares. This isn't going to be easy, but if Bitcoin captures 5% of gold’s $8.9 trillion global market cap, we are looking at $26,439.35 per BTC.
3. Debit, credit cards and the lightening network.
Bitcoin's scalbility issues have led to merchants abandoning Bitcoin as a medium of exchange, but LN could significantly cut the costs making it enticing for both small and big businesses alike. If the Bitcoin protocol can claim 1.55% of the global payment processing market share, not including cash, that would bring us to $23,679.20 per BTC. IMO, of all the paths leading to $100K, LN would be the deciding.
4. Global remittances, Stock markets, United States dollar in circulation and Rootstock smart contracts.
Remmittances are backbone of many economies, especially developing countries and this one of the main sectors that Bitcoin has the potential to be extremely useful.
Stock market/cryptoassets.
Next to the Lightning Network, Rootstock smart contract platform (RSK) is the most awaited upgrade to the Bitcoin protocol which would enable side-chain, layer-2 application featuring merge mining from the base-immutable-layer and a two-way peg from BTC to Smart Bitcoins (SBTC).
McAfee had prophesized that Bitcoin would hit $1 million by 2020 and this author believes BTC will reach $100K by February 5, 2023, assumptions, but from a technical perspective, adoption based on utility, getting better of competitors, Bitcoin has the potential to hit $100K, but when? No one knows.
https://hackernoon.com/bitcoins-substantive-technical-road-to-100k-2637b899ffc5
@STATIK Sure, I will PM you
1. Offshore bank accounts and the first unseizable asset.
Bitcoin as a store of wealth. Assuming there are $13.5 trillion hidden in offshore bank accounts, if 2% of this wealth gets reallocated to bitcoins, that would make for a price of $16,038.43 per BTC.
2. Gold market share and decentralized store of value.
The same utility, store of value and getting gold market shares. This isn't going to be easy, but if Bitcoin captures 5% of gold’s $8.9 trillion global market cap, we are looking at $26,439.35 per BTC.
3. Debit, credit cards and the lightening network.
Bitcoin's scalbility issues have led to merchants abandoning Bitcoin as a medium of exchange, but LN could significantly cut the costs making it enticing for both small and big businesses alike. If the Bitcoin protocol can claim 1.55% of the global payment processing market share, not including cash, that would bring us to $23,679.20 per BTC. IMO, of all the paths leading to $100K, LN would be the deciding.
4. Global remittances, Stock markets, United States dollar in circulation and Rootstock smart contracts.
Remmittances are backbone of many economies, especially developing countries and this one of the main sectors that Bitcoin has the potential to be extremely useful.
Stock market/cryptoassets.
Quote
International commodities and transactions are typically priced in USD. Cryptocurrency markets are priced in BTC. To be fair, we will not use the $83.6 trillion figure of all M1 & M2 money supply but instead use the circulating supply of USD, estimated at $1.5 trillion. The sum of global remittances, stock market, and USD in circulation totals $67.374 trillion. Dividing this number by the BTC available supply then using 0.8% of the division, we arrive at $32,729.80 per BTC.
Next to the Lightning Network, Rootstock smart contract platform (RSK) is the most awaited upgrade to the Bitcoin protocol which would enable side-chain, layer-2 application featuring merge mining from the base-immutable-layer and a two-way peg from BTC to Smart Bitcoins (SBTC).
McAfee had prophesized that Bitcoin would hit $1 million by 2020 and this author believes BTC will reach $100K by February 5, 2023, assumptions, but from a technical perspective, adoption based on utility, getting better of competitors, Bitcoin has the potential to hit $100K, but when? No one knows.
https://hackernoon.com/bitcoins-substantive-technical-road-to-100k-2637b899ffc5
@STATIK Sure, I will PM you
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