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RE: YAHOO NEWS : Bitcoin (BTC) Worth $100 Million by 2030?

in #parley-bitcoin6 years ago (edited)

100 mil would be equivalent to nearly 2000 trillion market cap for bitcoin alone. For this to be possible, the dollar would have to be worth next to nothing. What good is a 100 million bitcoin if it takes 1 million to buy a loaf of bread? At some point these comparisons break down to meaninglessness.

This kind of dominance of a single crypto is unlikely. We are much more likely to have a few dozen coins all with relatively similar market cap. There's a name for everyone under one umbrella: it's called centralization.

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I agree with you a lot here. But the possibility (fear) of the USD becoming worth next to nothing is not toooo far-fetched, and is part of what drives cryptocurrency adoption. Being able to afford 100 loaves of bread would be great, esp cpmpared to those with no btc, and if dollars are useless.
I agree that these numbers only work if one crypto - btc - is dominant. It's more likely that there will be a few, similar to how Visa, Master Card, Amex, Discover are now.

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