Absolute BS. If one Bitcoin becomes equal to $1 billion, that means that the total market cap of the Bitcoin becomes $21,000 trillion. That is 100 times the world GDP. Not possible either theoretically or practically.
funny how nobody bothered to set you right.
if btc or usd goes to zero aka dies of any not splitsecond event the other would go to infinety expressed in the former. While going to infinity it would eventually pass the billion without much drama. Who wants a billion worthless dollars?
anyway, billion was never mentioned there apparently.
This argument is ridiculous... I could say, "Could the price of sand reach $1 B per grain?" and answer "yes", only because this is true for everything. The question "Could Bitcoin come to be worth $1 billion?" clearly does not intend to mean "Could USD ever fall to 0.000000001
BTC?". That is an incorrect interpretation.
Note also the question asks "Could Bitcoin come to be
worth $1 billion", which implies real valuation.
Yes, and the real valuation of the dollar can fall to abysmal levels. If we asked this same question concerning gold, it would be an entirely different issue. Fiat currencies aren't a special logical exception; their worth always falls to zilch, so the above question is correctly answered as "Yes, so long as bitcoin outlives the USD, one can be worth $1 billion."
You may believe the argument to be ridiculous, but so long as you concede that the argument is factually correct, your feelings on the matter are negligible.
The argument is factually correct in the sense that all of the following arguments are correct:
- Barack Obama holds #1 and #2 for number of votes won in a presidential election, for his 2008 and 2012 runs respectively.
- American GDP growth (in absolute terms) soared to record highs during Obama's second term.
- The amount of employed Americans has increased dramatically during Barack Obama's tenure.
Not even the Obama campaign is using these as arguments, however, despite that all of them are 100% "factually" correct. That's because the statements are so misleading, they cannot be said with a straight face. Anyone with two or more brain cells will notice that all above trends are almost tautological; they provide no information whatsoever about the quality of administration. They are caused by an unwavering trend that persists no matter who is running the country.
That's also why interpreting "Bitcoin to reach $1 billion" as a true statement is practically folly. Yes, it's factual as long as Bitcoin outlives the USD. But that can be said for anything. Just as my presidential statements above would apply equally to George Bush, the "to reach $1 billion" prediction applies to literally every commodity. Heck, the paper today's USD is printed on will eventually reach $1 billion. That doesn't mean I can seriously publish an article claiming "Dollar bill's value to reach $1 billion".
