Demand technically doesn’t need to increase (although it will).
Since the supply is perfectly fixed (inelastic) the price will eventually have to adjust up even on current levels of demand (or lower!)
Although this obviously wouldn’t be as meaningful, given enough time a small group of economic actors could push Bitcoin into being the largest monetary asset in the world all on their own, no additional users needed. 
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There is still an increasing supply over time and someone has to buy the newly created bitcoin.
Decelerating supply over time.
The block subsidy in 2052 will be about half of one of my current paychecks. Even assuming that there are zero new Bitcoiners after today, the price will still have to experience a massive correction upwards to deal with that supply reality.
And although I won’t live to see it, there will be a day when the last sat is mined. 
The rate of increase in bitcoin supply is decreasing, but the total number of bitcoins increases every 10 minutes. If no new capital comes in, there is no one to buy the newly created bitcoin. Really have to end this now as you are not understanding basic economics. I agree the price of bitcoin is likely to go much higher, but it is because of future demand, not because the subsidy is decreasing over time.
I think this is a semantic disagreement. All I’m arguing is that you can have less new demand than currently exists for Bitcoin, and still have higher Bitcoin prices due to its supply inelasticity.
Sorry I misunderstood you. I thought you were saying “no future demand” is necessary for the price to increase, but you are saying no “increase in demand” is necessary. I agree.
My point to Mr Ross is that the network was not “designed” to increase the purchasing power of bitcoin as it is still a network that is inflationary, albeit disinflationary. But it still takes humans making decisions about purchasing bitcoin because they see the value in doing so, which bids up the price, and that is what causes bitcoins purchasing power to increase.
