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.
Discussion
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.