If not, what price would you ask? Bitcoin has been around for a while, but if it has a future of wide global usage, it is clearly still in its infancy. "This time it's different!" is a sucker's mantra. But still ... this time it's different. Was there ever another commodity in which the total supply was permanently capped? I have compared bitcoin to genuine Picasso paintings. The total supply can only decrease over time. Fashions influence their value, but they can't lose value because of decreasing scarcity.the current price will collapse dramatically
Would you be willing to promise to sell me 100 BTC (or a bag of peanuts, if bitcoin ceases to exist) in five years for a total price of ten dollars? Seriously, with signatures and escrow and whatever we need to make a deal.There is no case in history that I'm aware of in which a commodity can sustain a 1,000,000 fold price increase in the space of a couple years and not come back to reality.
I agree, for commodities I am aware of. But there is also an annoying statistical anomoly that I see frequently. Country X has the fastest-growing GDP in Region Y. It's true, but Country X is really tiny compared to the others in that region. It's easy to grow fast when you are young and small. I once doubled my body weight in a week, back in my zygote days.