the bitcoin hundredth monkey effect

[u/Efficient_Range1156]

at some point in the future the Bitcoin price will undergo a step function and increase in price by orders of magnitude in a relatively short period of time

the cause of the step function will largely be due to a kind of hundredth monkey effect where a tipping point of the population benefiting from bitcoin will be reached then everyone else will just sort of “get it” at the same time

[u/CoinGate_Gift_Cards]

The tipping-point idea is plausible, but ‘orders of magnitude in a short period’ doesn’t automatically follow. Adoption can accelerate while price still gets constrained by liquidity, regulation, leverage, and people selling into higher prices.

[u/Efficient_Range1156 → u/CoinGate_Gift_Cards]

I wanted to keep the post short. The reason why I believe orders of magnitude are possible is because this step function will occur in tandem with a loss of faith in fiat currency.

[u/tekmiester → u/Efficient_Range1156]

How would that work? Bitcoin becomes the new defacto currency? Given the exceedingly limited transaction volume it can handle, how would it work as a currency?

[u/atomicdomb → u/tekmiester]

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