This question was asked on Bitunix earlier today while I was browsing through many posts about market trends and caught my attention. It made me realize how important this level would be for our society.
If Bitcoin gets to this level, it will no longer just be a profit opportunity for most individuals. People will weight on when they purchased Bitcoin. Will they acknowledge that they missed the boat, or will they convince themselves that the $1,000,000 was never plausible anyway? Does regret evolve in to denial? Is the trust of people in flexible money gradually replaced by people having trust in strict rules without going through a massive collapse?
When I think about this situation, I believe the single greatest disturbing element will not be economic. It will be psychological in nature. The way individuals perceive money, their effort, and look back on their personal choice.
I would be interested in what others think. If Bitcoin continues to grow to $1,000,000, what happens first? Does our mindful set change prior to the shift in the financial systems employed to facilitate our lives?
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