Who Wants Slave Dollars Anymore?

When we break the previous all-time-high there will be an energy and momentum that could carry Bitcoin into the $5,000 - $10,000 range; and extremely quickly.I have to stress this point; Bitcoin behaves extremely different than other finite assets like stocks, gold, silver, and resources.The first reason it behaves differently is simply its extremely finite supply. There are about 300million people in the US alone. If just Americans decided they wanted Bitcoin they could each have ~0.052BTC . Bitcoin is not intended for a single locale or country, it is a globally distributed currency available to everyone, the potential market is the 1billion people connected to the internet.The second reason it behaves differently is that Bitcoin has its own transaction network. Stocks, gold, silver, etc, all these must be traded through trusted intermediaries; which means you aren't actually trading them you are trading representations of these goods. If you are trading a representation of a good the trusted intermediary is often a bank that can legally use fractional reserve. This means that asset prices can be kept artificially lower because the fractional reserve nature allows an artificial inflation of the supply.Long story short, because of fractional reserve, banks can inflate the available supply of assets at will, thus deflating prices.When you buy Bitcoin you aren't buying a representation of a Bitcoin, you are receiving the actual underlying asset. Institutions simply cannot send you a Bitcoin IOU to your wallet. They must send you an actual bitcoin, which immediately reduces their available supply. This is the main reason Bitcoin is so insanely volatile, we are actually seeing a RAW battle between supply and demand in real-time. Imagine how the gold market would behave is everytime gold was traded it was physically transferred rather than just IOU's backed by supposed vaults like Fort Knox.With other markets the changes are often delayed and smoothed over, they kick the can down the road borrowing from one institution to the next until they get to the end of the line and there is nothing to borrow, and then thats when big changes manifest in the stock market.Bitcoin is much more direct. Part of its design is to create a global bank run. We will reach an inflection point where every single day bitcoin rises in value compared to every fiat currency on the planet. As people begin to notice this, they will begin storing more and more of their savings in bitcoin, which will cause the price to rise even greater, causing more investment. As demand for Bitcoin grows, so will acceptance. When everyone wants to store their wealth as digital gold, business will accept it for goods and services, which creates a closed loop.The scary part is getting caught on the wrong side of the Bank run. If for instance you observe what is happening in Venezuela, their currency the Bolivar is inflating nearly 1000% this year, causing prices of everything to increase significantly every single day. The Bolivar is rapidly becoming worthless, as supply increases exponentially, demand is also diminishing. Who wants to hold money that is worth significantly less tomorrow? Which raises the question, who in their right mind would sell their Bitcoin for Bolivars? The answer is, somebody who is forced to pay bills or taxes in Bolivars, which then begs the question, where did they get the Bitcoin in the first place? The obvious and sad reality is that only Miners in Venezuela (who have bills and taxes to pay in Bolivars) would have any interest selling Bitcoins in exchange for Bolivars.The picture I am painting here is thus: When the inflection point is reached it means that global currencies are losing consistently in value to Bitcoin, when people like me see this inflection point, we will not sell a single Satoshi unless we have to acquire USD for bills or taxes. Which will further reduce the available supply. The moral of the story is: By the time most people want Bitcoin and decide to buy some, nobody will want their violence-fueled slave dollars anymore.Bitcoin is an entirely Binary bet. In 16 years it will either be worth $0 or $1million+ each. via /r/Bitcoin http://bit.ly/1qZRyC5