The following post by DakotaChiliBeans is being replicated because some comments within the post(but not the post itself) have been silently removed.
The original post can be found(in censored form) at this link:
np.reddit.com/r/ Bitcoin/comments/akzob3
The original post's content was as follows:
That's based on simply holding this price level, it'd be less obviously if the price falls more.
That's not much really, considering that is over a year and 4 months and encompasses the whole world population, or even if you want to exclude the trully poor the buyer pool is still potentially several billion people and some businesses.
To absorb the whole supply of new coins from now to may 2020. It'd require.
30 people worldwide to buy 100,000,000 usd worth of bitcoin.
or
300 people worldwide to buy 10,000,000 usd worth of bitcoin
or
3,000 people worldwide to buy 1,000,000 usd worth of bitcoin.
or
30,000 people worldwide to buy 100,000 usd worth of bitcoin.
or
300000 people worldwide to buy 10,000 usd worth of bitcoin.
or
1,000,000 people worldwide to buy 3,000 usd worth of bitcoin.
or
10,000,000 people worldwide to buy 300 usd worth of bitcoin.
Obviously it likely will not breakdown in large categories like that. Most likely 1 100 Million dollar buyer, a few 10 Millioin plus buyers, a dozen Million dollar buyers, etc....
I personally just from my mining habit, will fall between the 3000 and 10000 usd slot.
Anyway, no real point here, other than the situation doesn't look that bad to me at least at these low price levels. It's simply really cheap to suck of the supply. Yes, I get old holders could sell their supply as well, but that seems less and less likely seeing the upside potential is rather high now, as opposed to selling at a 1/6 of the all time high price.
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