[Regulus]

Originally Posted by moltuae

Scarcity, exponential growth and adoption are what will ultimately dictate the price. About 16.5 million Bitcoins have been mined so far. By the time we reach the 21 million limit (in a little over 120 years time), I would guess that the amount of Bitcoin actually in circulation would be less than half that value, mainly due to 'lost' coins. If adoption continues on its exponential curve, that's not a lot of coins to share between several billion people. If you do the maths, you can see why there are a lot of bullish predictions, suggesting that widespread adoption as a worldwide currency could see a single Bitcoin worth hundreds of thousands (or possibly even millions) of Dollars within the next 5-10 years, especially when you consider the irreparable state of the global 'fiat' economy.

It strikes me as very strange when I consider the implications.

Seeing this is so extremely limited. I mean, if the BTC really is supposed to reach such valuations. How does it make sense to have it? It can't be for regular shopping food or clothing etc. Even buying a car would be valued at minute fractions of one BTC.
AND there are billions of people alive, even millions in any given country. So what is it? Is it supposed to replace gold, as a storage of wealth? Thus not destined to be a currency as such?

I apologize if I ask questions that can't be answered, or if I look at this from a faulty perspective.
edit *Like believing it might be a test run for crypto currencies