Crypto still a long ways to go

Mookie : This would be almost impossible. Let’s say today at the rate of 47,354.50$, you would have to have almost a trillion dollars to purchase literally all the Bitcoin if you held it. This doesn’t even take into account that as bitcoin is currently, it would take about 120 years to mine the remaining 2.6 million Bitcoin. As more Bitcoin is held and not sold, this price will skyrocket. Which would make 47k a fraction of what one Bitcoin would cost. So we are talking an unreasonable amount of dollars in order to fill this pool, when we have all Bitcoin available mined. Every so many years Bitcoin cuts the amount of coins available to be mined, so it would be pretty impossible to run out of Bitcoin any time soon. To also assume people will just hoard Bitcoin is insane as well, because they whole purpose is to make it a currency. This is why platforms have integrated it to where you can spend it through things like Bitcoin debit cards connected to your wallet. This circulation works out to balance out the price as well and drive it even higher. If it’s a bull market people hold it it’s a bear market they sell. The thought that this would fill anytime soon to the point they are trying to emphasize is asinine. Of course Bitcoin is risky like anything else, say for example Satoshi decided to empty his wallet with a million bitcoins then the price would plummet. But that doesn’t mean people wouldn’t buy it right back up and there’s enough in circulation now that even that dump could easily be recoverable.

Mcsnacks H Tupack OP Mookie : It’s 12 trillion dollars worth. It’s based on the gold markets worth. What happens when the Federal Banks get involved? You think the winners are existing stablecoins but they may not be. The regulation effectively opens the gates to a host of WallStreet stablecoins. Most banks would want to run their own stable coin, manage their own reserves, have an added income stream.If stablecoins will now be strictly pegged to the dollar and monitored, we can expect a lot of pump and dump activity in token prices to subside. Which is good, but it also means the rising ATH  prices will come down as well

Mookie Mcsnacks H Tupack OP : Of course but these aren’t issues we should run into anytime soon and I tend to believe that a system so widespread would be more accepted for banks to adopt. The amount of computing power and energy it takes to run a crypto currency is insanely expensive and the coding is likely to be questioned if it’s originating from a bank, because then they can mess it up like the USD. To also think people would just hoard millions in most coins doesn’t really make sense, especially not for something like the treasury to risk. (You know in case god forbid the system fails somehow they would have to explain such an exponential loss to the citizens) I do agree with you that they’ll probably get involved somehow but I think it’ll start with higher taxing and probably more required information from holders. America is so dumb that they would probably also expect an account of how all the missing bitcoins occurred and of large wallets that haven’t had any motion in a long time. These are shaky grounds and it’s hard to predict, but they’ll definitely do something to mess it up. I just don’t think it’s what CNBC is articulating. They don’t understand half of the new age investments out there and old ways are gradually dying. I do think a system of crypto will probably be created thats superior to all the options out there, but by who and how it will work is hard to judge.

cockNTail : this is the one needed to take the world into 1 currency. so is the end time closer or at hand. supply and demand will still dictate the market place. The prices will eventually come down.

Mcsnacks H Tupack OP : The world is 100 trillion in debt. The 12 trillion they say won’t all be mined until 2140. Which means all countries would have to have their own crypto. China is trying to get theirs started in 2024. US can’t have one built until 2026 but the federal reserve is working on it now. What happens in the event that power grids go down for an extended period? How do you spend crypto?