Everything you mention in your video makes sense; there is no argument.
Except:
What if mining crypto becomes the new arms race?
I can see RU wants to devote their extra electrical power, to mining.
And CH already dominates, as you mention...
And so the US response to this would be?
I think you can see where I'm going here. US is well known for having super computers devoted to many things. They live underground; there is no public budget devoted to this, and it exists.
The US response is to keep the USD as the reserve currency for as long as possible. The PetroDollar must go on! And if bitcoin challenges that the USA launches a virus to destroy the bitcoin network as it did to Iran centrifuges. Notice Israel who like the USA leads the world in tech is not also a leading btc miner.
I believe China has the worlds largest supercomputer, but a quantum one will be a huge leap ahead. I think the US will win the race on this one ... maybe?!
When you ask what will something.... Anything... be worth in X amount of time, my first reaction is to ask, "Relative to what?" As I'm typing this, 1 bitcoin is worth approximately 4,144 US Dollars. That's what you can get someone to trade you for it. It's around 400 of my favorite Sirloin Steak lunches. 3.26 ounces of gold, or 248.58 ounces of Silver. I have a little Sterling Silver flatware, with a 92 1/2 percent silver melt value. If I wanted to buy a bitcoin, I would have to have a little under 17 pounds of it right now. 10 years from now, maybe not so much.... Maybe more. What's interesting, is that in order to do the above calculations, I have to use the current Bitcoin to USD price ($4,143.77) Even more interesting is that this is a snap shot. In 10 years, I expect the Dollar to have collapsed. This is due to some strategic moves I expect Russia, and China to make with regard to the Dollar. A Bitcoin is currently worth about 2,500 loaves of bread that I buy at my local store. In 10 years, it might take a $Trillion US to buy that loaf of bread. The loaf of bread might still be worth 1/2,500th of a bitcoin...... Even though my neighbors are pushing wheelbarrels full of USD to the store to buy some bread. What will Bitcoin be worth in Euros, Pounds, or Yuan? A bitcoin is worth 518 hours of me washing dishes at my job (A local restaurant.) Today. In 10 years, I might be wealthy in Steem Dollars, and you couldn't buy my time for any amount of US Dollars.
That's a really tough question to answer and I think it all depends on how much big money gets in the game. The BTC market is tiny. The gold market is massive compared to the current BTC market, but is it's self a very small market in the grand scheme of things. If BTC is seen as a viable safe have and dollar alternative if things go sideways with the bond market, (which I believe is only a matter of time) you could technically see trillions of dollars flood into BTC resulting in a 500k- to million plus BTC price.
The central banks have kept the money printing clown show going for longer than I already thought was possible, in ten years I think our monetary system will be much different than it is today. If I had to guess, I'd say we see a BTC price of 50k- 100k USD. Of course it might take 10k USD to buy a loaf of bread, lol, so I don't know how much purchasing power you'll retain. If BTC is truly seen as the "digital gold" and a viable store of value and safe haven, my goodness, it could be trading at a ridiculous price.
As my government has increased quantitative easing (QE) over the last few years, I've fled from fiat to BTC. QE is just another tax on top of my pound (£) that was not requested by me. BTC allows me that fire exit escape from government clutches!! :)
I wish I had a crystal ball to look into and see how life will be and how bitcoin will grow. I would guess it would be ten times what it is today, that is 40k. It will probably be more but no one knows for sure,only time will tell.
I did a post about a week ago where I tried to compare the current market cap of bitcoin to the market cap of gold to try and predict the price. I arrived at a figure of $181,196.74 per bitcoin. You can check out my blog for the full post.
Everything you mention in your video makes sense; there is no argument.
Except:
What if mining crypto becomes the new arms race?
I can see RU wants to devote their extra electrical power, to mining.
And CH already dominates, as you mention...
And so the US response to this would be?
I think you can see where I'm going here. US is well known for having super computers devoted to many things. They live underground; there is no public budget devoted to this, and it exists.
The US response is to keep the USD as the reserve currency for as long as possible. The PetroDollar must go on! And if bitcoin challenges that the USA launches a virus to destroy the bitcoin network as it did to Iran centrifuges. Notice Israel who like the USA leads the world in tech is not also a leading btc miner.
It is better for developed countries
I agree with you surfyogi, it can be the new arms race, coz cryptocurrencies are now a reality
I believe China has the worlds largest supercomputer, but a quantum one will be a huge leap ahead. I think the US will win the race on this one ... maybe?!
When you ask what will something.... Anything... be worth in X amount of time, my first reaction is to ask, "Relative to what?" As I'm typing this, 1 bitcoin is worth approximately 4,144 US Dollars. That's what you can get someone to trade you for it. It's around 400 of my favorite Sirloin Steak lunches. 3.26 ounces of gold, or 248.58 ounces of Silver. I have a little Sterling Silver flatware, with a 92 1/2 percent silver melt value. If I wanted to buy a bitcoin, I would have to have a little under 17 pounds of it right now. 10 years from now, maybe not so much.... Maybe more. What's interesting, is that in order to do the above calculations, I have to use the current Bitcoin to USD price ($4,143.77) Even more interesting is that this is a snap shot. In 10 years, I expect the Dollar to have collapsed. This is due to some strategic moves I expect Russia, and China to make with regard to the Dollar. A Bitcoin is currently worth about 2,500 loaves of bread that I buy at my local store. In 10 years, it might take a $Trillion US to buy that loaf of bread. The loaf of bread might still be worth 1/2,500th of a bitcoin...... Even though my neighbors are pushing wheelbarrels full of USD to the store to buy some bread. What will Bitcoin be worth in Euros, Pounds, or Yuan? A bitcoin is worth 518 hours of me washing dishes at my job (A local restaurant.) Today. In 10 years, I might be wealthy in Steem Dollars, and you couldn't buy my time for any amount of US Dollars.
That's a really tough question to answer and I think it all depends on how much big money gets in the game. The BTC market is tiny. The gold market is massive compared to the current BTC market, but is it's self a very small market in the grand scheme of things. If BTC is seen as a viable safe have and dollar alternative if things go sideways with the bond market, (which I believe is only a matter of time) you could technically see trillions of dollars flood into BTC resulting in a 500k- to million plus BTC price.
The central banks have kept the money printing clown show going for longer than I already thought was possible, in ten years I think our monetary system will be much different than it is today. If I had to guess, I'd say we see a BTC price of 50k- 100k USD. Of course it might take 10k USD to buy a loaf of bread, lol, so I don't know how much purchasing power you'll retain. If BTC is truly seen as the "digital gold" and a viable store of value and safe haven, my goodness, it could be trading at a ridiculous price.
As my government has increased quantitative easing (QE) over the last few years, I've fled from fiat to BTC. QE is just another tax on top of my pound (£) that was not requested by me. BTC allows me that fire exit escape from government clutches!! :)
I wish I had a crystal ball to look into and see how life will be and how bitcoin will grow. I would guess it would be ten times what it is today, that is 40k. It will probably be more but no one knows for sure,only time will tell.
I'd be happy with $40K @practicaleric - but your right. No one has been able to see the future yet.
.
It feels like Bitcoin is on steroids right now!
Bitcoin is really going up, do not know what will be its maturity stage
Bitcoin appears to be breaking all the rules at the moment!
I did a post about a week ago where I tried to compare the current market cap of bitcoin to the market cap of gold to try and predict the price. I arrived at a figure of $181,196.74 per bitcoin. You can check out my blog for the full post.
$180K a coin is not unreasonable for the King of Crypto in the very long term!
1 million dollars!
You sound like Dr Evil! "MWAAAAAAHAAAAAAAAAAA! 1 BILLION DOLLARS MEESTER NUMBNUTS!!" :D
I am glad you got exactly where I was coming from!!
1 satoshi =1$ ...
Interesting.
60.1 :>
😆😆😆😆😆