Topic: [prediction] Next spike $560,000 14 {<-oops!} months from now (2017 Update!) - page 6. (Read 71521 times)

If this IS the spike, it will happen very fast!

One major flaw -> Willy bot. It wasn't adoption.

 
  
True.  However I posit that technologically if Monero doesn't play a role in that GDP increase then no other cryptocurrency but Bitcoin will.  Monero has dramatically better technology in every conceivable way, but lacks Bitcoin's early lead and network effect.  That can change dramatically over time. 
  
Due to it's private blockchain, there are certain classes of applications that Monero can never achieve (though Bitcoin can).  
Due to it's public blockchain, there are certain classes of applications that Bitcoin can never achieve.  
  
I think the future medium term will have two ledgers, a public one and a private one.  In this case the total mega-'value' predicted by these might be split among the two ledgers.  

Sorry, it's not my intention to shill in your prediction thread; if you want to know more about why privacy is important and necessary for digital cash please come find one of the Monero threads (speculation or ANN) and we'll be happy to discuss it more.  In the meantime, let's please get back to dreams of half a million dollar bitcoins.  

AP, there is a big 'if' in your quoted post. Whether GDP goes to the moon or not, the crucial element in your post is whether Monero will be a part of that economy. We cannot be sure of that.

The following was a response I wrote in the Monero speculation topic about why those might eventually reach $400,000 or even $4 million each.  However since I believe that Bitcoin has a great future as a secure public ledger (as long as they update their technology and solve their problems) then this also would apply to the topic of $500k bitcoins.  
  

I like you, but I could not disagree more.  Since 2012 I have been studying money, math, economics, and cryptocurrency nearly full time.  I have some pretty stark revelations to share with you.  
  
First of all, you need to understand that humans are not biologically equipped to naturally understand exponential (and greater) curves, and our greatest flaw (not my words, but some other genius's) is our inability to realize when we're within one.  
  
The gross domestic product of the world is not a linear curve.... In fact, it's so steeply rising that it might not even be exponential.  Currently the entire world values itself at nearly 100 trillion dollars, but that is going vertical since the rise of the Internet.



The Internet only allowed us to speed up the velocity of information to the speed of light... What do you think will happen when there are no artificial limits on the velocity of value as well?  Look at what is currently happening to our economy through mismanagement and centralized money controls.



Dude, once the age of crypto gets in full swing the velocity of money is about to go fucking vertical.  That chart won't even be usable anymore, we will go off the scale by orders of magnitudes.  
  
All this is only going to accelerate the value of our species, not stagnate it.  
  
A hundred trillion?  Don't you see that by 2030 the global GDP will likely be well past 500 trillion and on its way to a quadrillion 1990 US dollars?  Holy shit dude, it's going to be absolutely ridiculous what applying limit break materia to both information and value will do.  In fact, the combination of those two might not have linear effects....  
  
It might be multiplicative.  
  
Global Value Pre-1990: (linear factor representing speed of printing press) X (linear factor representing speed of paper money exchanging hands)

Global value Now: (information at the speed of light, uncapped) X (speed of digital money to move through centralized institutions with multi-day wait times).
  
Global value Soon: (information at the speed of light, uncapped) x (money at the speed of light, uncapped).  

As you can see, if Monero really does become the private ledger for the world, $4 million (in today's dollars) is peanuts for the amount of value it would represent.  By 2040 - 2050 you could see a Monero ledger with a market "cap" in the literal quadrillions (again, in today's dollars).  
  
The reality of our future is gonna hyper-annihilate even the most bullish predictions you might make today .  . Exponential curves, man.  Exponential curves.  
  
Hell, look at that GDP curve again!  That's exponential on an exponential chart!  You know what that is?  That's hyper-exponential!  That's a god damned Knuth Curve!  Our species is going to Knuth, and you don't believe a Monero will one day be worth a paltry $4 million dollars!?