Patrick Harker from Philly Fed is struggling to sniff it out. Or maybe he isn't. That depends on his definition of "foreseeable future".
news.bitcoin.com/fed...tcoin-concept-trust/
"“Digital currency won’t topple traditional, government-sanctioned money from its central role in the economy in the foreseeable future.”
Scaling will come in the "foreseeable future". That aside. There are 133 Trillion reasons why we will soon impulse higher to a whole new set of levels aside from BTCUSD trading over the ice wall of 1163 - 1180.
Worldwide coins, banknotes and checking deposits in circulation = 28T.
28T/21M btc = 1.3 million btc/usd. 1 Satoshi = 1.0E-08. 1.3M/1.0E-08 = 133T $ equivalent in circulation.
Plenty of room for inflation at the price of 1.3 million. Especially given 7.5Bln in population showing signs of cresting.
Does this mean that the world currencies go away....maybe not. Isn't life grand?
The $1.2 quadrillion in derivatives is a another chapter. I am just not sure if it is the final chapter or the first :-).
news.bitcoin.com/fed...tcoin-concept-trust/
"“Digital currency won’t topple traditional, government-sanctioned money from its central role in the economy in the foreseeable future.”
Scaling will come in the "foreseeable future". That aside. There are 133 Trillion reasons why we will soon impulse higher to a whole new set of levels aside from BTCUSD trading over the ice wall of 1163 - 1180.
Worldwide coins, banknotes and checking deposits in circulation = 28T.
28T/21M btc = 1.3 million btc/usd. 1 Satoshi = 1.0E-08. 1.3M/1.0E-08 = 133T $ equivalent in circulation.
Plenty of room for inflation at the price of 1.3 million. Especially given 7.5Bln in population showing signs of cresting.
Does this mean that the world currencies go away....maybe not. Isn't life grand?
The $1.2 quadrillion in derivatives is a another chapter. I am just not sure if it is the final chapter or the first :-).