I’ll have more original content coming soon. I promise. For now though, consider this: Fiat currency, whether it’s dollars, pounds, yuan or pesos, all have the same flaw that makes them less valuable over time. Governments just keep creating money out of thin air in order to make the payments on the massive debt we’ve all accumulated. This leads to a hyper-inflationary death-spiral that can be avoided for a while but never really stopped.

On the other hand, bitcoin may be digital, but it doesn’t come from nowhere. Right now millions of machines are burning gigawatts of electricity securing the network that creates bitcoin’s value. The more people that use the network, the more valuable it becomes. So a vicious cycle is started. Fiat currency like the dollar becomes less valuable, encouraging people to move to crypto-currencies like bitcoin more, which then weakens fiat even more, starting the cycle over again.

Before you react to that prediction, understand this. This scenario is playing out right now in several countries that have already been forced to deal hyper-inflation, like Greece and Venezuela. If you are in a first world country right now, understand that those countries just got to that situation first. We’ll all get our turn eventually.

The price of bitcoin will have to be much higher than it is now in order to truly be useful as an every-man’s currency. Try over a thousand times higher. As long as there is so much room for growth, the upward pressure on the price of bitcoin will continue for the foreseeable future. Bitcoin isn’t going anywhere any time soon.