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| Even though Bitcoin is just code the exchange rate will inevitably be millions of dollars for one Bitcoin UNLESS of the two following events happens.
The first thing being a catastrophe wipes out the internet and it never comes back.
The second is that the United States Federal government decides to spend less than it takes in from the IRS in taxes and sticks to it for decades while also keeping the national debt from growing.
Both of these events seem unlikely, 1 seems impossible.
The argument of Bitcoin being just code could hold up if a true gold standard was never abandoned. I think there is a fair argument that may have been better for society as a whole. But is was abandoned and now Dollars are just code with redeemable paper certificates that self interested people set the monetary policy on. Bitcoin doesn't need to be a good form of money it just needs to be better than the Dollar.
Edited by turbo diesal 11/12/2024 07:02
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Bitcoin... How high?
