$10,000 sounds good, but when Bitcoin reaches that price it will be widely accepted everywhere.
No it doesn't. Impossible.
15,000,000 coins x $10,000 = 150 billion market cap.
Way too small to be widely accepted.
Add three extra zero's and you can say it's widely accepted (or starting to be)
That might not really be how things work.
In 1985, it was possible to communicate around the world with computers.
In 1995, only 2% of the world's population used the Internet.
In 2005, only 16% of the world's population used the Internet.
In 2015, it's closer to 50%.
So - is the internet widely available yet, or do we have to wait for more than 50% of people to use it?
The truth is that it was already widely available in 1995. Even though only 2% of people used it, I could get online anywhere there was a telephone line.
Because I'm in the U.S., and 2% of all people worldwide meant more like 10% of people in the U.S. already used the Internet. It's easy for us to say we'll hodl for $10,000, but there are some people with bitcoins in the developing world where $5000 will buy them a house. Expect heavy dumping. Unless you're a millionaire or a monk, your hands aren't as strong as you might think.
True, there are plenty of delusional people who act like $100,000 isn't a big deal to them. I used to see them on "Deal or No Deal", turning down $100,000 "because I'm here for a million". They had never seen $100,000 in their lives, but they held out! And they ended up leaving with 2 cents.
You still need to buy food and pay the bills. If you're overdrawn at the bank, and someone is willing to pay you $5,000 for 1 bitcoin, how can you hold? But I think Bitcoin will be at 1995 Internet levels within the next 2 years. That means most people have heard of it, most people have never used it, but it's readily available for anyone who wants it.
So if 1 bitcoin is worth $10,000, and only 2% of people in the world use Bitcoin, I think I will be able to spend my
BTC for pretty much anything I need to buy. Maybe not every grocery store will accept it, but every town will have a grocery store that does. So there won't be as much reason to sell
BTC for fiat, since I'll already be rich without selling any bitcoins.
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