Pizzalover420 (OP)
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December 27, 2020, 10:44:03 AM |
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1) The average joe buys bitcoin 0-20k 2) Institutions/companies buy bitcoin 20k-100k 3) Countries buy bitcoin 100k-1million 4) Central bankers buy bitcoin 1million-unlimited.
We are at step 2.
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Lucius
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December 27, 2020, 11:22:05 AM |
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I have to admit that although it looks very simple it definitely makes sense, because we can assume that Bitcoin has somehow proven itself (or rather survived) in the first 10 years to now become a very interesting asset for institutional players looking for a safe haven in it. All those who recognized the potential of Bitcoin at an early stage were actually much smarter than these big players today, let alone those who may pay $100 000 or more per BTC in the near future.
Yet I am always for it that those who have more pay and more, and in this particular case, part of the wealth will be transferred to a part of those 90% who currently have only 10% of the total world wealth. However, I think that there will not be enough BTC for all those who will want to buy it, especially if we have one solid core that will never decide to sell but will use it as a currency.
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AB de Royse777
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December 27, 2020, 11:56:44 AM |
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especially if we have one solid core that will never decide to sell but will use it as a currency.
I hope I could be a part of this sold core group. Unfortunately I sold some of my coins yesterday. Fortunately it's not much but still it's the coins that gone out of my possession. 3) Countries buy bitcoin 100k-1million 4) Central bankers buy bitcoin 1million-unlimited.
I am nervous about these step 2 and 3. There won't be much to the peoples hand and they will start manipulating to give advantage of their fiat money.
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Pizzalover420 (OP)
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December 27, 2020, 12:29:16 PM |
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There won't be much to the peoples hand and they will start manipulating to give advantage of their fiat money.
There won`t be any, the central bankers will have the biggest mining farms in the end and collect all coins through network fees AKA enforced tax.
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Lucius
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Unfortunately I sold some of my coins yesterday. Fortunately it's not much but still it's the coins that gone out of my possession.
I think most still sell something from time to time, whether we sell for fiat or paying something directly with BTC. And I’ve sold a certain amount over the past few months to fulfill some of my wishes, and I don’t see anything wrong with that - I don’t see the point in just holding in time when every day can be our last. I am nervous about these step 2 and 3. There won't be much to the peoples hand and they will start manipulating to give advantage of their fiat money.
They are already manipulating, we cannot escape the influence of the people from the top, but to put it figuratively, we can sell our skin expensive. Unlike fiat, some things are not subject to manipulation such as max supply some other things that make Bitcoin decentralized. If they start to change that, then they will have some new alt (shit) coin, which there are already dozens of, and they are of no use.
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blockman
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December 27, 2020, 01:39:38 PM |
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1) The average joe buys bitcoin 0-20k 2) Institutions/companies buy bitcoin 20k-100k 3) Countries buy bitcoin 100k-1million 4) Central bankers buy bitcoin 1million-unlimited.
We are at step 2.
Simple steps, short and concise. Will there ever be a time the government/country ever option in to buy bitcoin as you said, I think bitcoin the price wace has no specific adaptation. Even individual usage can pull the price high.
Yes. AFAIK, the country of Bulgaria has a lot of bitcoin and there are other countries who have people in the government who aims to have more bitcoin. Although they don't really represent the government but it's likely that a government would buy or if not, will choose to have their own miners in the future as long as they see it that it can be profitable and helpful to them.
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mufettis
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December 27, 2020, 03:24:17 PM |
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Bitcoin's price is not dependent on stable coins. Bitcoin has already had a price way before the first stable coin came into the market. Bitcoin has a price in fiat but not necessarily in stable coins. Prices of stable coins are dependent on fiat. All stable coins may die but Bitcoin will always have a price value in fiat. Why? Because fiat will not collapse. It may shift in form though.
Bitcoin's price is not dependent on exchanges. Bitcoin has already had a price way before the first exchange came into the market. All exchanges may die but not Bitcoin because exchanges are not necessary for anybody to own Bitcoin.
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bandungan
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December 27, 2020, 04:08:51 PM |
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for point 4 bankers can buy in large quantities, but they also have the ability to destroy the market in fast time. because the number of bitcoins they have is very large
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taufik123
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December 27, 2020, 04:50:15 PM |
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for point 4 bankers can buy in large quantities, but they also have the ability to destroy the market in fast time. because the number of bitcoins they have is very large
They are also able to control the market when they own half or more of the total number of bitcoins in circulation. Price manipulation will be easy to do. We, individually or as a company, only have a limited supply. But getting to step 4 will certainly not be easy and it will not necessarily happen. However, for governments who join in and buy bitcoin, maybe it can happen, because of the popularity of bitcoin with a surge at the end of 2020 which continues to print new ATH. Everyone is interested in Bitcoin from now on.
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ChrisPop
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December 27, 2020, 05:02:50 PM |
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I think the average joe buys Bitcoin at all price points directly or indirectly. Let's not forget that pension funds are managed by institutions. So the contributions employees make on a monthly basis could go into buying BTC as well. I think I have heard of one company that does that, but I don't remember which one was it. Once Bitcoin reaches some of those higher numbers (6-7 figures) only big pockets could drive the price up fast. Otherwise we will have a steady growth. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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team87
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December 27, 2020, 06:09:31 PM |
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I've invested over $ 15,000 in 2020, but unfortunately not in bitcoin. I didn't expect bitcoins to reach $ 26000. Really beyond my expectation. ![Cry](https://bitcointalk.org/Smileys/default/cry.gif)
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Poker Player
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December 27, 2020, 06:10:20 PM |
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I think the average joe buys Bitcoin at all price points directly or indirectly. Let's not forget that pension funds are managed by institutions. So the contributions employees make on a monthly basis could go into buying BTC as well. I think I have heard of one company that does that, but I don't remember which one was it. Once Bitcoin reaches some of those higher numbers (6-7 figures) only big pockets could drive the price up fast. Otherwise we will have a steady growth. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Which will be good because it will make the price more stable. As for OP's idea, not bad for having just his mind as the source of it but I'm sure reality will be more complicated than that. Phases will be more mixed I suppose, not a straight line.
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Wysi
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December 27, 2020, 06:27:54 PM |
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Yes, we are at step 2 but I feel there has been investment from institutions already which helped bitcoin to cross the barrier of $15k when it was struggling for long time. Your article reflects the positive side wherein we also need to consider what could go worse like countries banning Bitcoin, institutions cashing out.
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bosede1
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December 27, 2020, 07:29:44 PM |
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The four steps look very appealing to the eye and mind, and I also congratulate the smarter ones who invested in bitcoin early enough and still holding to this present day. I am looking forward to step three where countries will be fully involved in Bitcoin
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BitcoinPanther
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December 27, 2020, 08:16:23 PM |
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1) The average joe buys bitcoin 0-20k 2) Institutions/companies buy bitcoin 20k-100k
This two is true since they are already happening. but the next two below.. 3) Countries buy bitcoin 100k-1million 4) Central bankers buy bitcoin 1million-unlimited.
We are at step 2.
Is quite impossible to happen since a country would invest in their infrastracture and other programs than investing in Bitcoin. They will rather tax Bitcoin users and earn money than spend their countries budget. Bankers will always ride the trend, but I doubt if they really buy a physical Bitcoin, they will just create a "virtual Bitcoin" propose it to the masses and sell them just like what CME is doing.
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ChrisPop
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December 27, 2020, 08:24:04 PM |
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Which will be good because it will make the price more stable.
And... guess what? If the price is stable people might be more open to using it as a day-to-day mean of payment. Demand will boost when that happens so overall we might have a steadily growing/deflationary asset. The future looks bright, but we'll live and see what exactly it has in store for the world. Exciting times be alive anyway.
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Pokapoka124
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December 27, 2020, 08:55:55 PM |
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I think the whales and people who bought bitcoin early are playing with bitcoin and price movement. At this rate we just might see $30k
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Lorokan
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December 27, 2020, 09:30:45 PM |
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1) The average joe buys bitcoin 0-20k 2) Institutions/companies buy bitcoin 20k-100k 3) Countries buy bitcoin 100k-1million 4) Central bankers buy bitcoin 1million-unlimited.
We are at step 2.
If this were simply how it works then bitcoin should have depleted alot; there is a term about economics that elaborates on demand and supply; bitcoin price growth has not grown out of proportion because the marketcap grows as bitcoin grows in price which means there are more demand (more investors + new money) for bitcoin.
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Ryker1
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December 27, 2020, 09:47:54 PM |
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1) The average joe buys bitcoin 0-20k 2) Institutions/companies buy bitcoin 20k-100k 3) Countries buy bitcoin 100k-1million 4) Central bankers buy bitcoin 1million-unlimited.
We are at step 2.
Well, adoption will really give a bitcoin price boom in the market. If we notice in 2017 that after bitcoin has been reached on the ATH and then there is a sudden price drop because that is only hype. The fact that there is no adoption, there is no joe buys bitcoin, there is no institution adopted bitcoin, most countries and social media tend to ban bitcoin. But now -- bitcoin really had investors that bring the price boost in the market due to this recent good news that happened. People will adopt bitcoin once they saw that the price of bitcoin too much high in the market, that is another plus factor.
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| │ | ████████▄▄███████▄▄ ███████▄████████████▌ ██████▐██▀███████▀▀██ ███████████████████▐█▌ ████▄▄▄▄▄▄▄▄▄▄██▄▄▄▄▄ ███▀░▐███▀▄█▄█▀▀█▄█▄▀ ██████████████▄██████▌ █████▐██▄██████▄████▐ █████████▀░▄▄▄▄▄ ███████▄█▄░▀█▄▄░▀ ███▄██▄▀███▄█████▄▀ ▄██████▄▀███████▀ ████████▄▀████▀█████▄▄ | . "I could either watch it happen or be a part of it" ▬▬▬▬▬ |
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pixie85
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December 27, 2020, 10:04:19 PM |
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I feel like we're at the beginning of step 2.
We first heard about companies buying it when we were on our way to 15 thousand. I'm not counting those first early birds like Pantera because they were more like early adopters among investment funds. The real institutional adoption is still coming.
First institutions come before the mainstream adoption and this is the moment when the biggest gains will be. I once read an article when some analysts were predicting 1 million dollar bitcoin when mainstream adoption begins and this was when Bitcoin was worth maybe 3000 dollars.
I hope we'll see it in the next 10 years. It would be great to see bitcoin succeed after such a long struggle.
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