Oddbean new post about | logout
▲ ▼
BTC_for_Freedom | 1 months ago (raw) | export | reply | flag +13 
 0.1 BTC will make you a millionaire in today’s dollars. If you think that’s crazy you don’t understand it.
▲ ▼
imnuso | 1 months ago (raw) | root | parent | reply | flag 
 Magic ingredient here is “when”
▲ ▼
H | 1 months ago (raw) | root | parent | reply | flag 
 We are probably realistically 30 years away from a 100 million dollar Bitcoin
▲ ▼
Mr⚡2MB 🐇🏴‍☠️ | 1 months ago (raw) | root | parent | reply | flag 
 Exponential curve ftw
▲ ▼
imnuso | 1 months ago (raw) | root | parent | reply | flag 
 Not unlikely
▲ ▼
H | 1 months ago (raw) | root | parent | reply | flag 
 What would that be a 1,600 x from current price?
▲ ▼
imnuso | 1 months ago (raw) | root | parent | reply | flag 
 Roughly. 

Seems impossible until you realize fiat is going from 1 to 0 and between those two fits infinity. 

Question is more will the USD stop existing before that.
▲ ▼
H | 1 months ago (raw) | root | parent | reply | flag +1 
 Fiat will always be around

We would be naive to think nation states would relinquish their power.

In my humble Sat stacking opinion a world where the dollar does not exist and everyone uses bitcoin is an absolute Disney channel fantasy most
Bitcoiners have
▲ ▼
imnuso | 1 months ago (raw) | root | parent | reply | flag 
 Credit based money will always be around, but fiat has no future in my opinion. 

Nation states do what other nation states force them to do. Positive feedback loop. That's why the game theory of bitcoin works. 

I also don't think most people will use bitcoin on the base layer, but higher layer solutions and bitcoin backed forms of money.
▲ ▼
H | 1 months ago (raw) | root | parent | reply | flag 
 Credit based money who’s supply can be manipulated is 

*drum roll*

Fiat

America will NEVER give up their power to debase their own currency

It won’t happen
▲ ▼
imnuso | 1 months ago (raw) | root | parent | reply | flag 
 This is incorrect. Fiat is paper money without backing. Gold backed paper money wasn’t fiat per definition for example. 

America will be forced to give up this monopoly. It’s already happening. Check the charts