True. However, if bitcoin is going to have wider adoption, the price has to go up to accommodate a larger slice of world economy.
The price of Bitcoin is largely irrelevant to economic activity. XRP for instance has a theoretical market cap several times that of Bitcoin, yet nobody really uses ripple right now.
How does a currency provides the nuts and bolts for an economy that has a value flow larger than it?
It isn't flowing, that's kind of my point. As long as the currency sits in every bodies wallets as a "store of value" and so few people are using it as a payment system the discrepancy between the theoretical market cap (all currency times the price) becomes so large that the effect of real economic activity is basically nil.








