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RE: The Steemit Daily Dose: What do you think a Bitcoin will be worth in 10 years and why?

in #bitcoin7 years ago (edited)

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.

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