How realistic is hyperbitcoinization (a tipping point where people start a rush to exit fiat for bitcoin in a fiat devaluation event http://nakamotoinstitute.org/mempool/hyperbitcoinization/). Let's look at some global monetary and gold statistics.
Some talk about bitcoin perhaps one day matching or passing gold market cap. https://www.reddit.com/Bitcoin/comments/70z6p0/if_you_do_the_math_a_single_btc_is_more_than_200/dn7ikck/
at $4400 which Bitcoin has been above for some of this month, it already reached around 1% of gold market cap.
But what other global targets are there for comparison. Globally, all paper currency and coins are valued around $5 trillion - at $4400 Bitcoin was already 1.5% of that.
Paper currency plus bank balances and savings value around $90 trillion - so if Bitcoin got to $50k/BTC (10x recent bitcoin highs) bitcoin would be valued 1% of all money!
So where is the tipping point - where people sit up and take notice - I'm not sure, but 1.5% of all physical currency is already pretty interesting. What happens if/when Bitcoin gets to 10%? Which then gets within reach of 1% of money of physical and bank deposits/savings globally. At some point there has to be a tipping point where money leaving accelerates for fear of falling fiat and we see the adoption S-curve play-out http://www.uversity.com/blog/wp-content/uploads/2011/07/Communication-Technology-Adoption-Peter-Leyden.png
The ETFs and institutional money have barely started yet, and historically gold price was influenced by the introduction of ETFs http://www.marketwatch.com/story/how-gold-etfs-have-transformed-market-in-10-years-2013-03-29
So will hyperbitcoinization happen, who knows. But the possibility is maybe not so far-fetched. It seems that bitcoin price news itself drives financial and other media interest - though maybe for reasons not so exposed to Bitcoin's value position.
(Some data from http://money.visualcapitalist.com/all-of-the-worlds-money-and-markets-in-one-visualization/ and https://www.reddit.com/Bitcoin/comments/70z6p0/if_you_do_the_math_a_single_btc_is_more_than_200/dn7ikck/)
What would a stable post S-curve adoption price look like economically or geopolitically?
Interesting questions. As we've seen in the eurozone it can be difficult for countries, like Greece, to have a single currency but divergent economic policy - with the Drachma in previous economic downturns, they had been able to exploit a weak exchange rate to rebound by exporting their way out of recession. On the other end we've seen Iceland currency drop 60% https://www.washingtonpost.com/news/wonk/wp/2015/06/17/the-miraculous-story-of-iceland/?utm_term=.5461176249e9 and recover faster. An interesting alternative or future strategy proposed by Icelander Sveinn Valfells was that Iceland adopt Bitcoin as a currency - with it's cheap geothermal power it has unique advantages for Bitcoin mining. https://www.researchgate.net/publication/245327990_Bitcoin_for_Microstates_-_How_Iceland_could_adopt_Bitcoin
BUY CRYPTOCURRENCY Buy Bitcoin Buy Bitcoin ... He is expected to announce the news on June 15 during a digital currency conference in Stockholm. The company’s co-founder and CEO Sveinn Valfells ... The jump in value of bitcoins has been nothing short of precipitous: A bitcoin that started 2017 worth $1,023 was trading at $16,999 at 2 p.m. Thursday. The currency has climbed more than $7,000 ... Bitcoin News Good and bad News about Bitcoin Menu Skip to ... CEO and founder Sveinn Valfells claims that this is the first time ever that electronic money has been approved for use over a blockchain. ... the news that Icelandic money will be transferred over the Ethereum blockchain is a big one, since there can be fiat movement without ... Valfells goes ahead to mention the company’s intention to spread the e-money method of transactions firstly throughout Europe, and much later to other parts of the globe in all instances where ... Valfells explained that firms coming up with similar products like fiat backed stablecoins, ... -handed cryptocurrency content curation creators from christened community contributors who focus on delivering today's bitcoin news, cryptoasset user guides and latest blockchain updates.
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