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by Aqueous
4587 days ago
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It's not going to be useful as a currency for a while. Nor would it be if its market cap was only $10 billion. For it to be a currency it has to stabilize sufficiently. In that case the boom-bust cycles will have to stop, which means speculation will have to slow down. As soon as BitCoin becomes old news - that's when the rate of appreciation will slow down. But since in the long run, potential growth is the market cap of all the existing currency in the world - meaning, (unlikely) we could potentially get to the point where all currency is replaced by BitCoin - then who knows? We might have to wait until BitCoin units have saturated every corner of the Earth before it becomes rational to spend even a little BitCoin. In which case a satoshi will be worth a dollar and those of us with one or more BitCoins will be multi-millionaires. If only... |
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