actually the argument was invalid, alongside this beautiful red herring you have presented to me. Risto is not 100% certain that bitcoin is going to be adopted by the entire world. you set up the argument as a strawman - or where do you get your facts?
He is not certain about that? Well, maybe you should ask him on what does he think about that.
He estimates that there is an insanely high 1% chance that Bitcoin will reach 1,000,000 dollars per BTC.
That is 10k$/BTC expected value from that scenario alone. And the others are not all zero either.
As people learn about this insanely profitable risky bet offered to them, they buy in, mostly very little, because losing does not hurt, but winning changes their life.
When enough people buy, the price rises. Now we are closer to 1,000,000 and the probability to reach it therefore goes up.
This allows more people to buy, because less risk.
In the end, when the recursion is totally played out, the probability to hit an insanely high valuation of $1 million (or higher) is something like 20%.
And when you see and understand the above, it makes you even more willing to buy even more NOW, increasing the price and ...















