I have recently learnt that people are trying to hoard coins as long as possible in order to increase it's price rise. And there are only 21 million coins in supply!
Now, let us
assume that 21 million bitcoins are fully mined and
7.28 billion population all over the world gets to know about Bitcoin protocol and incidentally, everyone starts buying and hoarding
346.66666667 BTC! Then what might happen eventually?
I know this is an extreme hypothetical case and will not happen at all, so please don't reply just by stating that everytime.though i love the hyperthetical.. i prefer reality.. ignore the 7billion population.. as some of them are people who have medical issues, in prison, or are babies/toddlers.. (unable to be part of economic society)
so atmost you would see a 5billion population of actual people playing with and making free choices about spending.
we also know that upto 1mill coins are already lost.. gone..
so the potential free flowing bitcoin cap is 20mill coins..
now if everyone was equally given X bitcoin.. it would work out as 0.004btc per person.
now the hyperthetical exageration..
bitcoin being the only on world currency..
well at the moment average 'savings' are $45,000/person.
meaning 0.004btc=$45,000.. or put simply
in the dream utopia of bitcoin being the one world currency, with no other options. 1btc would be worth ATLEAST $11,250,000 per btc.
so now you have the utopian, wet dream perceived value of bitcoin..
can we now put the dreams and the speculation aside.. and just get on with getting retailers to accept bitcoin. you know.. make bitcoin actually more useful for everyday purchases of toilet roll and bread.. instead of specialist stuff..