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Topic: The True Price of Bitcoin at Mass Adoption (with mathematical proof) (Read 948 times)

legendary
Activity: 1321
Merit: 1007
The future of money isn't bitcoin and the future of bitcoin isn't money.
I think the same.
Bitcoin will be used, and the blockchain will be the next step of evolution, but is too slow to buy in a shop

Not true. Transactions are instant and therefore fast enough to buy a loaf of bread. Conformations don't matter when buying a loaf of bread..

Confirmations matter when buying $100 worth of merchandise from a store.
legendary
Activity: 2590
Merit: 3015
Welt Am Draht
Infinity makes things a little hard to price up, no?
legendary
Activity: 1946
Merit: 1007
The future of money isn't bitcoin and the future of bitcoin isn't money.
I think the same.
Bitcoin will be used, and the blockchain will be the next step of evolution, but is too slow to buy in a shop

Not true. Transactions are instant and therefore fast enough to buy a loaf of bread. Conformations don't matter when buying a loaf of bread..
full member
Activity: 322
Merit: 115
We Are The New Wealthy Elite, Gentlemen
The future of money isn't bitcoin and the future of bitcoin isn't money.


I have no clue what you are talking about but I like your signature.
full member
Activity: 225
Merit: 100
The future of money isn't bitcoin and the future of bitcoin isn't money.
I think the same.
Bitcoin will be used, and the blockchain will be the next step of evolution, but is too slow to buy in a shop
hero member
Activity: 854
Merit: 503
Legendary trader
The future of money isn't bitcoin and the future of bitcoin isn't money.
full member
Activity: 322
Merit: 115
We Are The New Wealthy Elite, Gentlemen
Infinity.

If bitcoin is mass adopted then the value of the current currencies will fall to zero. If the value of 1 dollar is zero, then it would take an infinite amount of dollars to equal one bitcoin. it will be measured as an infinite amount of any fiat currency to equal 1 bitcoin. This is the end result of hyperinflation.

In 1913 you could buy ten loaves of bread for $1. Today you can barely buy one loaf of bread for $1. Probably you can't even buy the whole loaf for $1. If the us dollar inflates further, it might cost you $10 to by 1 loaf of bread, later it might cost you $20 for 1 loaf of bread, it wouldn't take much longer after that for it to cost you $100 for a loaf of bread, and if the ball really gets rolling, you might need a wheel barrel of dollars to pay for just one loaf of bread. At that point how much do you think 1 bitcoin would be going for? A billion dollars? A trillion dollars???

Eventually it would go to infinity as the value of a dollar drops to zero and at that point it no longer would make sense to measure the value of 1 bitcoin against dollars. It would make more sense to measure the value of bitcoin by how many loaves of bread it would buy you. Or perhaps how many Lamborghini's it would buy you, etc.

Soon it would not take any thought about the value of a loaf of bread, everyone would know that X amount of bitcoin is how much a loaf of bread is worth, and at that point bitcoin has become the new unit of account, replacing the dollar or any other currency in that role.

So in conclusion, at mass adoption the value of 1 bitcoin is infinity.  Grin
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