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RE: Most Important Bitcoin Chart Ever
Do you have any thoughts regarding what point (maybe Cycle 5?) transaction fees might rise to such a level that Bitcoin could be unusable for the average person, if it actually did become the reserve currency?
Good question. Assuming the charted model is approximately what will happen…and do note I have an alternative scenario at the posts linked from the blog… For the masses, then I think 2024 would be the last year they can still afford to transact on chain, as Bitcoin makes a new ATH higher than the $32k target peak for 2019. For $millionaires doing large transactions and most businesses, then I think by end of Cycle 4 they will be kicked off chain. Billionaires will be harvested during Cycle 5. Then finally the end of Revelation with all the world’s wealth concentrated on a hill of Israel. Lol.
So, by 2024ish the more astute of the masses need to be prepared to carefully time - with dispassionate heads - when they jump ship to preserve what they've accumulated. I'd like to think innovative alternatives would have evolved and proliferated by then to accommodate the outflow of capital.
Whatever scenario, definitely "Interesting times" ahead!
Thanks for implicitly promoting my work on such an altcoin. :)
;-)