RE: These Bitcoin Predictions and What Backs Them Up
Great analysis and I love how you went conservative to make your case. Obviously, 20,000 by 2020 is a low mark when you consider what is going on in this market space.
One thing I wanted to bring up when you are using economic market cap is the fact that you are looking at things through today's world economy. The world has roughly a $70T GDP if memory serves me right. That is a baseline to work from. I see astronomical growth in the future due to the development of AI and the implementation of other types of automation. Couple that with the fact we have another 3 billion people who are expected to come online and enter the world economy and I see world wide growth rates going through the roof. Perhaps I am a dreamer but I see abundance coming very quickly. Now I do realize it still will not be evenly distributed but the total pie should grow very rapidly (that is why I think the world's first trillion dollar man is somewhere on the annual Forbes list..Gates maybe?).
Hence, if we have a world wide economy of, say, $125T-$150T in 10-15 years, what does that do to the concept of $1M bitcoin?
Yup all valid and good points population growth, resources limited and growth will all fuel the coins value in USD higher. Plus lets not forget about normal inflation of FAIT that alone adds about 6% over the next two years.
That is true although I will same I believe as more technology takes over, the Fed will have a tougher time hitting its 2% mandate. Already more than 2% of the world wide economy is operating under the laws of IT which has a huge deflationary rate. My best estimate is that the US is closer to 4% since it is an advanced nation. That will only continue to grow as a part of the overall GDP.
By the way, if you want a laugh head over to my blog and read the post about $5M bitcoin.....
several Families are already in the trillion range... forbes is not allowed to publish about them think C300
That is true. The long time bankster families are in the multi-trillion.
Amazing when you can print money what you can do over the course of 150 years.