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...so, beyond squiggles, the long term price rise trend WILL halt. It has to.
I've generally believed this as well, but there's one scenario that makes me pause.
What if the bitcoin supply, along with its use as a substitute for money for transactions, became so prolific that it started to rival a true currency?
Is there a point where the supply becomes large enough, and the number of people using it broad enough, that speculative activity (i.e., buying it with the expectation of making money) no longer strongly impacts the price, and it starts to have the stability of an actual currency?
And if so, I wonder how far away from that point we are today.
