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56 sats \ 3 replies \ @SimpleStacker 6h \ parent \ on: Is it a Bitcoin rite of passage to believe the price is going to $1M (cont.) AskSN

I think it is though because it's using present prices. If dollars continue to debase when the world actually hyperbitcoinizes, the price of bitcoin then will be worth even more than 3.4 million at that time

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68 sats \ 2 replies \ @Undisciplined 6h

That ignores time-preference, as I read it.

Depending how far out that $3.4M is, I may prefer $1M today.

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53 sats \ 1 reply \ @SimpleStacker 5h

It gets kinda weird. I obviously prefer $1M today than 1 bitcoin, because I can buy lots of bitcoin with $1M.

Again, bitcoin doesn't really have a valuation that can be pinned down with fundamentals. Until a significant amount of long-term contracts are denominated in bitcoin, it doesn't have much of a valuation grounding.

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1 sat \ 0 replies \ @Undisciplined 5h

It does get weird and I guess that's to account for risk type stuff.

The estimate I'm thinking of put a future valuation of about $10M and then came up with 1M present dollars as the amount you'd need to invest at normal market rates of return to end up at $10M by that date.

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