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I’m as bullish as fuck but bitcoin is not going anywhere near $15M in 5 years without an almost complete collapse of the dollar.

So in 5 years, bitcoins value is on par with the entire net worth of the globe? (About $400 trillion)?

Well, maybe if the dollars’ purchasing power drops by 99% in 5 years.

I’m sure there were some German citizens in 1923 who sold their gold for Marks because the price of gold was ā€œhighā€, only to have those Marks be completely worthless by 1924.

Yeah, but a sat could be worth a penny or even a dollar someday.

Boomers have most of the wealth and probably will never buy a lot of bitcoin. But in 20 years they will have moved on and given their wealth to the 30 and 40 something’s of today, who will.

Sorry I misunderstood you. I thought you were saying ā€œno future demandā€ is necessary for the price to increase, but you are saying no ā€œincrease in demandā€ is necessary. I agree.

My point to Mr Ross is that the network was not ā€œdesignedā€ 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.

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.

Well, not exactly. Bitcoins purchasing power only increases if the demand for bitcoin increases more than its inflation rate relative to the inflation rate of the dollar. Humans decide on that demand and it is highly probable but not mathematically certain by design that this demand for bitcoin will continue to increase.

What changes or what fails if the government built upon open protocols that they can’t own, control, or manipulate, with every interaction visible to all nostr:npub1tsgw6pncspg4d5u778hk63s3pls70evs4czfsmx0fzap9xwt203qtkhtk4 ?