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RE: For those that may have missed the memo, I am sticking to a Target Price for Bitcoin at a minimum of $1,000,000.
I believe that bitcoin will easily hit $10,000,000 and keep going up.
However, sometime after a million dollar bitcoin, The US$ will start degrading fast enough to see. and so, the dollar price of bitcoin will not be something very useful.
I would start developing plans on what, specifically, you want to trade your bitcoin for.
Do you really believe that? Not in a sarcastic way, but I've read some of your comments you seem quite educated on steem and cryptos in general. Most of your comments are very level headed, id love to know how you see it playing out. When do you see bitcoin returning to its highest price?
I have a genuine belief in cryptos and blockchain and hope they bounce back, but it's hard to get people to support and understand when the market is so volatile and is constantly being flipped on its head.
Basically give up everything you know. Start doing it now, so you have time to adjust.
"How did you go bankrupt? Slowly at first, and then all at once."
Both the good guys and the bad guys are pushing for the end of the dollar. It will happen. The dominoes are already falling.
Both the good guys and the bad guys are pushing for digital money. So, it will also happen. We are seeing a huge investment of resources into moving into a block-chain world.
So, at some point these things are going to cross. The US$ will fall of a cliff. And crypto-currencies will be adopted.
BUT!
The road there is not smooth.
Clif High talks about this quite often, and i like his words.
We are not heading for a financial collapse. We are heading towards a financial turbulance, or a shakeup of the whole system.
The US$ collapses, and the FED, as they have done before, tries to reissue a new currency, that will fail, then they will try again, and fail... and then something succeeds.
In the future, we will have 5 continental currencies.
Which is a good thing, as long as it is not controlled by people who are skimming off of, and controlling to the detriment of everyone using them. And, the road there is rough.
So, as i said, we will see $1,000,000 bitcoin. Everything has already been put into place for that to happen. It is all but inevitable.
However, within the next 10 years, we will see many places degrade to barter.
We will see Kalifornians mining/panning for gold to buy food.
So, although a single bitcoin will be worth a kings ransom, there will be no trading it for convenient The US dollars.