I’ve learn lots from maximalists who assume Bitcoin will, over time, devour worth from different currencies because of [Network effect](https://en.wikipedia.org/wiki/Network_effect), [hardness](https://en.wikipedia.org/wiki/Hard_currency), and so on.
Whereas these views all make sense to me and I do agree with them, I’ve a pair questions.
First, if hardness is such an vital issue within the worth of a cash why aren’t we utilizing gold as our cash now? (Is the reply that there are different limiting elements, for instance gold is not sufficiently divisible, transportable, and so on?)
Second, how do we all know how a lot worth Bitcoin will devour over time from present currencies, will or not it’s 99% of the worth, 80% reminiscent of with a [Pareto distribution](https://en.wikipedia.org/wiki/Pareto_distribution) or much less, reminiscent of with the present worth of the US greenback?
What each of those questions try to get at is there appears to be many elements which affect the long run worth of Bitcoin however how do we all know that are an important over time?