I know we all expected to see the Bitcoin price moon. But maybe the way this goes is that all the exchanges get shut down in a ban at 30k and we don't have a price again until 2030 when exchanges are made legal at $10m per coin.
Discussion
If you did have an effective operation chokepoint and exchanges did get shutdown, that would move everything to hash production and P2P networks. Sort of benefits maxis in that way, don’t you think?
I'm thinking something similar. The price we see is not the street price. When we also reach the #Bitcoin is liquidity phase no one will want Fiat for anything and it will be desperate people trading exorbitant amounts of Fiat for a few sats. But also there will be normal free market people earning sats for skilled and unskilled services. The earners will be proudly accepting a deflationary savings vehicle.
P2P trading exchange rate *is* ‘the price.’
KYC exchanges typically sell bitcoin at a discount, but that won’t last forever.
This is what they did with gold, or something very similar. I think this is exactly how it could go.