For ten or twenty million bitcoins to be worth hundreds of thousands of dollars each, trillions of dollars would have to go *poof*. Which means the world economy would have to go *poof*.
Does this make sense to anybody here? You don't go from a few hundred dollars to hundreds of thousands like walking across the room. It's more like having a hurricane blow the roof off and getting sucked up into the sky.
Does this make sense to anybody here? You don't go from a few hundred dollars to hundreds of thousands like walking across the room. It's more like having a hurricane blow the roof off and getting sucked up into the sky.
That's thinking market cap which is ultimately pretty meaningless. The price is set by a tiny sliver of available coins at any one time. I remember reading somewhere that $250 billion of direct buying expenditure would push the price to around $80,000 and it would probably be way, way higher as less people were willing to sell on the way up.
Just like any stock market or asset, the price would fly down the toilet if people actually tried to extract a reasonable percentage of an entire market cap's worth of value.
We see that every day in the altcoin markets. People shouting 'woo hoo' my whatevercoin hit a ten million dollar market cap. If you go over to look at the actual exchange numbers they might be able to get a couple of grand out before swatting the entire order book flat.
