How realistic is hyperbitcoinization (a tipping point where people start a rush to exit fiat for bitcoin in a fiat devaluation event http://nakamotoinstitute.org/mempool/hyperbitcoinization/). Let's look at some global monetary and gold statistics.
Some talk about bitcoin perhaps one day matching or passing gold market cap. https://www.reddit.com/Bitcoin/comments/70z6p0/if_you_do_the_math_a_single_btc_is_more_than_200/dn7ikck/
at $4400 which Bitcoin has been above for some of this month, it already reached around 1% of gold market cap.
But what other global targets are there for comparison. Globally, all paper currency and coins are valued around $5 trillion - at $4400 Bitcoin was already 1.5% of that.
Paper currency plus bank balances and savings value around $90 trillion - so if Bitcoin got to $50k/BTC (10x recent bitcoin highs) bitcoin would be valued 1% of all money!
So where is the tipping point - where people sit up and take notice - I'm not sure, but 1.5% of all physical currency is already pretty interesting. What happens if/when Bitcoin gets to 10%? Which then gets within reach of 1% of money of physical and bank deposits/savings globally. At some point there has to be a tipping point where money leaving accelerates for fear of falling fiat and we see the adoption S-curve play-out http://www.uversity.com/blog/wp-content/uploads/2011/07/Communication-Technology-Adoption-Peter-Leyden.png
The ETFs and institutional money have barely started yet, and historically gold price was influenced by the introduction of ETFs http://www.marketwatch.com/story/how-gold-etfs-have-transformed-market-in-10-years-2013-03-29
So will hyperbitcoinization happen, who knows. But the possibility is maybe not so far-fetched. It seems that bitcoin price news itself drives financial and other media interest - though maybe for reasons not so exposed to Bitcoin's value position.
(Some data from http://money.visualcapitalist.com/all-of-the-worlds-money-and-markets-in-one-visualization/ and https://www.reddit.com/Bitcoin/comments/70z6p0/if_you_do_the_math_a_single_btc_is_more_than_200/dn7ikck/)
What would a stable post S-curve adoption price look like economically or geopolitically?
Interesting questions. As we've seen in the eurozone it can be difficult for countries, like Greece, to have a single currency but divergent economic policy - with the Drachma in previous economic downturns, they had been able to exploit a weak exchange rate to rebound by exporting their way out of recession. On the other end we've seen Iceland currency drop 60% https://www.washingtonpost.com/news/wonk/wp/2015/06/17/the-miraculous-story-of-iceland/?utm_term=.5461176249e9 and recover faster. An interesting alternative or future strategy proposed by Icelander Sveinn Valfells was that Iceland adopt Bitcoin as a currency - with it's cheap geothermal power it has unique advantages for Bitcoin mining. https://www.researchgate.net/publication/245327990_Bitcoin_for_Microstates_-_How_Iceland_could_adopt_Bitcoin
A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are... Get Bitcoin Como Moneda De Futuro En Islandia Sveinn Valfells it now for free by clicking the button below and start making money while you sleep! Average Return Rate: Around 80% in our test ; US Customers: Accepted; Compatible Broker Sites: 11 different brokers; Price: Free; Open Free Account. 6 years ago. 3. Decide on how much you want to Invest. Then you need to decide how much you want to ... Monerium co-founder and CEO, Sveinn Valfells, said that this will be the first time that electronic money will be used over the blockchain technology. He explained further: “For practical purposes, fiat will be the currency most people and institutions will want to use in the near- and medium-term. And if you are touching fiat in any way, you just have to comply with the relevant regulations ... Consider the price of Bitcoin, which went up by a factor of about twenty-five during 2017, explaining the substantially increased interest in Bitcoin over that period. 13 At this writing (April 12, 2019), Bitcoin prices have fallen to about one-quarter of the price hit at the peak in December 2017. At their nadir in mid-December 2018, they were about one-sixth the peak price. The price of a ... Mining revenues $568M per annum. Sveinn Valfells, PhD & J´on Helgi Egilsson Minting Money With Megawatts Presented at University of Iceland, April 17, 2015 1 / 23 16. How to Mine Bitcoin Proﬁtably Miners Compete For Network Share Costs determined by design of processors and data centres X Incremental hashing capacity. B Bitcoin price. S + F ...
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