If this is to come to pass the price of 1 XMR would rise to ~ $5559 USD (86,629,637,881USD divided by 15,582,824XMR)
This is an increase of 5129USD
Or, as a percentage :
an increase of 1192.79%
The bans and taxes on mining in China and restrictions on cryptocurrency use will only continue to push users and then investors towards well designed privacy coins.
Bitcoin is Gold , Litecoin is Silver and Monero is Digital cash
The ramifications of a $6000 dollar Monero would be huge it would mean nearly anyone anywhere could mine profitably with whatever hardware they have on their desktop/laptop. Browser miners would finally become a lucrative way of serving up content without ads and the overall distribution of the Monero would be fairer and more stable than any other currency on the market because ASICS will not exponentially increase difficulty making widespread adoption of Bitcoin and other currencies difficult.
As with all cryptocurrencies, the fungibility is only able to be manifested if the currency is widely adopted. Monero is currently only valuable outside of wide-spread adoption due to 2 factors: mining investment and privacy ability. Since only crypto enthusiasts (niche group) tend to value mining, the privacy ability is the biggest selling factor.
Therefore, the fungibility of Monero is strictly resting on its adoption due to its privacy capability. If you get enough people on board with that (which I think we can, eventually, as in years..), then maybe the coin will be accepted as currency by enough legal vendors that it'll become fungible. But currently? Not so much.. I don't see large merchants accepting Monero as payment. I barely even see anyone accepting Monero as payment at all, to be honest (we should change that). I'm sure it's great on the darknet, but the darknet is essentially black market, which scares off the average Joe and there are waaayyyy more average Joes not willing to break laws to make a buck than criminals dealing on the black market. (And if you disagree with that, fine, we can disagree, but that is what I believe based on hard data easily obtainable by a little patient googling on crime statistics and employment statistics).
So, $5,000+ by the end of 2018? Seems very far-fetched to me....
Widespread adoption closes that $60 gap....
"In economics, fungibility is the property of a good or a commodity whose individual units are essentially interchangeable.
For example, since one kilogram of pure gold is equivalent to any other kilogram of pure gold, whether in the form of coins, ingots, or in other states, gold is fungible. Other fungible commodities include sweet crude oil, company shares, bonds, other precious metals, and currencies. Fungibility refers only to the equivalence of each unit of a commodity with other units of the same commodity and not to the exchange of one commodity for another, which is barter."
This has nothing to do whatsoever with 'price'
Fungibility has to do with the physical properties (or in case of crypto's the digital property of transactionhistory (which xmr doesn't have, making it fungible))...
I think you should do some reading...
So now apply that to Monero and instantly you should see how Monero over here does not equal Monero over there. That is not a fungible currency, it doesn't always equal itself.
USD is widely adopted, Monero is not. You see?
I can't discuss this further with you if you don't want to at least just point out where in the definition of fungibility you find 'something (litterally anything) that has to do with 'price' '
There's not difference in the properties of 1 xmr, whether you paid 346$ or you paid $353, they're both 1 XMR
Read the definition of fungibility, and tell me where 'price' is involved...
Do you get this?