Seeing the day of 100 billion USD of new capital have made me ask myself what will happen to this world where all of a sudden everyone sees they are wrong about their money.
I’m convinced that half of all bitcoins will be turned in for USD at least once, maybe twice or three times on some exchanges, on others they might never get paid back because there are no buyers left. There is only one question I would really like answered: “What happens when bitcoin hits 21 million?”
Do you remember 2013? It was the beginning of the end for fiat currencies. Everyone laughed at gold prices falling 35% in a month vs fiat currencies losing 30%. Gold stands still while people grab dollars and euros with both hands, but wait… What if gold goes up tenfold while paper currency keeps falling? Amazingly enough some people thought it could happen! The same thing has happened over and over again throughout history. Currency collapses followed by jumpy recoveries were so common until very recently that nobody took them seriously anymore. But this time I think we should not underestimate how smart rightdoers can be when presented with an opportunity to save themselves from death by starving slowly instead of dying massively in war or poverty. The price drop and increase in price and volume during 2013 was phenomenally fast after 2010 because it came along with complete information: “It’s your last chance before everything that matters has been priced out forever” — And then we