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gentlemand

legendary

Activity: 2590

Merit: 3014

Welt Am Draht

Quote from: Csmiami on May 16, 2017, 04:31:14 AM

And how is the Government supposed to put taxes on BTC??

How does the government tax your business selling baked potatoes shaped like Michelle Pfeiffer for cash on street corners? You tell them. If you don't and they find out then bad things happen to you.

BTC also has the advantage of an easily traceable paper trail if you attempt to cash out in any form.

arwin100

hero member

Activity: 2632

Merit: 787

Jack of all trades 💯

1m$ is unrealistic prediction as you can see the price right now is struggling to reach the 2000$ price level and the dump is little more freakin out right now since poloniex issue is now occuring but i still have a faith that 2000$ will be reached for this year or maybe it will surpass to that price so before thinking that price would reach to 1 million level then maybe we should stake and let the digits become 5 afterwards.

jakelyson

legendary

Activity: 2184

Merit: 1069

I doubt it will happen. It is already a bonus if bitcoin reaches 10K. 1M is overreaching. There is so much problem with bitcoin right now, and even if these problems are solved, 1M is just too high of a price for bitcoin.

Peter789

member

Activity: 110

Merit: 10

Hang on with the pessimism. The scalability debate, either side, is a short term solution.

https://cointelegraph.com/news/bitcoin-scalability-issue-takes-new-turn-as-rsk-ready-to-release-ginger

With RSK..the moon is in sight.

AjithBtc

sr. member

Activity: 1666

Merit: 276

Vave.com - Crypto Casino

Quote from: adroitful_one on May 16, 2017, 03:07:34 AM

Quote from: Xester on May 16, 2017, 03:05:36 AM

Quote from: nydiacaskey01 on May 16, 2017, 02:10:26 AM

$1 Million USD per Bitcoin is an exaggeration maybe it will reach $10,000 USD or $30,000 USD. If ever it happens that BTC is worth $1 Million, there will be a sudden increase of hackers around trying to brute force every single wallet address that they think of because the rewards is surely big specially wallets of those who are in to trading.

A one million US dollar per one bitcoin is not an exaggeration but rather the future of bitcoin. Possibly twenty to thirty years from now we will experience the price of bitcoin that high. It could only occur if there are at least 50 countries that will adopt bitcoin as a form of payment in exchange for goods and services then that prediction will no longer be a dream but a reality.

Yea. It really all depends on how many people are using the coin. If 1 billion people want to use it and there's only 21 million coins, you can easily see how there's not enough to go around and the price will skyrocket.

Agreed, the price move completely depends upon the adoption and acceptance that happen with the people around the world. Same as Japan if more Countries take part into bitcoin as quoted the usage will increase and increase in demand can be seen as the coins to be mined gets halved periodically.

Csmiami

copper member

Activity: 1610

Merit: 1325

I'm sometimes known as "miniadmin"

Quote from: Souldream on May 15, 2017, 10:25:52 PM

Quote from: CriminologyProf on May 15, 2017, 01:46:55 PM

I've seen a lot of hype around certain people predicting Bitcoin will be valued at $500,000.00 to $1,000,000.00 in the future. If Bitcoin reached $1M, that would mean 1 Satoshi would be equivalent to 10 cents USD, which could raise some issues for rounding with smaller transactions if Bitcoin gets a much wider use in the future, which could open up a whole new bucket of confusion with scaling. Would Bitcoin start being divided even more? Such as with fractions of a Satoshi?

I feel that $1 Million is a bit high of an expectation, but at the beginning $1,000.00 seemed unreal also.

So what do you guys think is a realistic "best case scenario" value for Bitcoin in the future? $10,000? $100,000?

im not believing it, if its happen, i think bitcoin will be known by government, they will limit our earnings they will put taxes on us, i believe in $5000-$10000 but it will took a way long run, it will takes years before it will be happens.

And how is the Government supposed to put taxes on BTC??

adroitful_one

legendary

Activity: 1568

Merit: 1041

1GhxHtabWhEpdb7e7oEJ2vd542n33BwTHR

Quote from: Xester on May 16, 2017, 03:05:36 AM

Quote from: nydiacaskey01 on May 16, 2017, 02:10:26 AM

$1 Million USD per Bitcoin is an exaggeration maybe it will reach $10,000 USD or $30,000 USD. If ever it happens that BTC is worth $1 Million, there will be a sudden increase of hackers around trying to brute force every single wallet address that they think of because the rewards is surely big specially wallets of those who are in to trading.

A one million US dollar per one bitcoin is not an exaggeration but rather the future of bitcoin. Possibly twenty to thirty years from now we will experience the price of bitcoin that high. It could only occur if there are at least 50 countries that will adopt bitcoin as a form of payment in exchange for goods and services then that prediction will no longer be a dream but a reality.

Yea. It really all depends on how many people are using the coin. If 1 billion people want to use it and there's only 21 million coins, you can easily see how there's not enough to go around and the price will skyrocket.

Xester

hero member

Activity: 994

Merit: 544

Quote from: nydiacaskey01 on May 16, 2017, 02:10:26 AM

$1 Million USD per Bitcoin is an exaggeration maybe it will reach $10,000 USD or $30,000 USD. If ever it happens that BTC is worth $1 Million, there will be a sudden increase of hackers around trying to brute force every single wallet address that they think of because the rewards is surely big specially wallets of those who are in to trading.

A one million US dollar per one bitcoin is not an exaggeration but rather the future of bitcoin. Possibly twenty to thirty years from now we will experience the price of bitcoin that high. It could only occur if there are at least 50 countries that will adopt bitcoin as a form of payment in exchange for goods and services then that prediction will no longer be a dream but a reality.

Monnt

legendary

Activity: 938

Merit: 1002

Quote from: nydiacaskey01 on May 16, 2017, 02:10:26 AM

$1 Million USD per Bitcoin is an exaggeration maybe it will reach $10,000 USD or $30,000 USD. If ever it happens that BTC is worth $1 Million, there will be a sudden increase of hackers around trying to brute force every single wallet address that they think of because the rewards is surely big specially wallets of those who are in to trading.

Already there are enough measurements are taken into consideration for switching over to new encryption algorithm for protecting privatekeys of our bitcoin addresses. The same was initiated by our admin Theymos, in next 5 years it will be implemented. It was taken into consideration with the expectation of introduction of quantum computations and protecting Mr.Satoshi's ~1 million bitcoins.

Basically bitcoin ecosystem's security will not be a problem for huge price for BTC. Improved security for bitcoin system and higher prices for bitcoins will be happening side-by-side in future. I'm sure bitcoin will be achieving some huge prices like $10 million, probably in next to 10 to 20 years.

nydiacaskey01

legendary

Activity: 1834

Merit: 1036

$1 Million USD per Bitcoin is an exaggeration maybe it will reach $10,000 USD or $30,000 USD. If ever it happens that BTC is worth $1 Million, there will be a sudden increase of hackers around trying to brute force every single wallet address that they think of because the rewards is surely big specially wallets of those who are in to trading.

Peter789

member

Activity: 110

Merit: 10

Right isen. Scaling is the big issue facing btc today. Transactions have to be fast.....turbo fast for public acceptance.

I am changing my mind and am starting to support Segwit.

As an invester, Etherum is also looking good. I feel Etherum will NOT loose value. Therefore, is safe.

C'mon guys............scale the chain.

HabBear

hero member

Activity: 1106

Merit: 637

Quote from: freeyourmind on May 15, 2017, 10:07:02 PM

Aside from your variables X, Y and Z, I think that the volume of transactions is another important variable that should be taken into account. That has a huge impact on the demand of a currency, and ultimately, it's value.

Is that stat out there? How much bitcoin is changing hands over a period of time?

Oh man...free your mind with the charts at Blockchain.info >>> https://blockchain.info/charts

isen

sr. member

Activity: 854

Merit: 250

Quote from: CriminologyProf on May 15, 2017, 01:46:55 PM

I feel that $1 Million is a bit high of an expectation, but at the beginning $1,000.00 seemed unreal also.

Exactly, and even though I didn't check I am sure that back in the first days of Bitcointalk similar topics were discussed with titles such "Do you believe that BTC price will ever reach $ 1000?".
No one knows where it will stop and every answer you get is pure speculation.One thing is for sure that Bitcoin will keep growing and getting stronger day by day and if we manage to solve the scaling issue soon, the progress will be faster.

freebutcaged

hero member

Activity: 588

Merit: 541

$1100 price and people already were bitching around about how expensive Bitcoin is, $1800 price and many of them just stayed silent because they couldn't even spell and type the price for it was too heavy and expensive, I'll be rich less than $5,000,000 if I'm alive by then.
Doubt it if market can handle such prices, even now we can see how other coins are growing in market share. who could've thought some day a few KB of data worth thousands of dollars?

$1,000,000/BTC is just a theory and can not happen, speaking about realistic. most of the people here think Bitcoin will be the sole currency surviving in the future and there will be no governments? only a handful of people really need to use Bitcoin and the majority actually doesn't want and has no use for a decentralized currency.

I believe the existence of BU is very dangerous to the overall image of decentralization because they are clearly destroying the utility of Bitcoin.
I don't want a digital currency if I'm going to pay $2 as fee and still wait 1 hour do any of you?

Doms

hero member

Activity: 714

Merit: 500

Most likely not happening in my lifetime. How much does a share at Berkshire Hathaway cost? Or even a stock of Apple or Facebook. Chances are, if bitcoin is going to rise, it will have a ceiling and after that ceiling is reached, the price is just going to stabilize in that range. I am thinking that the price of bitcoin right now is stil at reasonable range, and once all these countries start accepting it, the price is just going to go berserk and might reach $5000 in a couple of years.

danherbias07

legendary

Activity: 3108

Merit: 1115

Leading Crypto Sports Betting & Casino Platform

Yes it can. If USD's value is trash in this world. But right now it is a no. Grin

The hard part is we are clinging to USD which could end up at the wrong side in a wrong time. We value bitcoin more with currencies equivalent. What if suddenly it went so deep down that it will have no value.
Would you say bitcoin got no value too?

rajasumi3

full member

Activity: 266

Merit: 100

At this moment bitcoin is not so much powerful that the price of bitcoins would rise upto 1 million dollar,well even if it happe it would take more than 60 years to reach that value and we might not be available to see that price.

iamTom123

hero member

Activity: 490

Merit: 501

Well, who would not want Bitcoin to reach that illusory 1 million level? Maybe those who have not yet Bitcoin they would not want Bitcoin to reach that dreamy state. But the question is: Can it really happen? I think it can but maybe you have to wait for 50 years or so. Reaching 3000 for now can already be so good for me.

DoomDumas

legendary

Activity: 1002

Merit: 1000

Bitcoin

Quote from: btcforall777 on May 15, 2017, 02:31:45 PM

Quote from: freeyourmind on May 15, 2017, 02:25:57 PM

I'd say it would be possible, but very unlikely.

If comparing to USD, I would think that the only way for it to be worth $1M would be if the US Dollar experiences hyperinflation.

On top of that, it would need to be adopted worldwide as a legitimate currency for payments.

um the US will experience Venezuela style hyperinflation for printing trillions in $$$ out of thin air. its just a matter of time. and watch bitcoin explode!

This, and/or just think about how Bitcoin is the new type of comodity, never seen in history.. Not backed by physical goods, neighter by political means,.. backed by mathematics..

And it's really scarce in fact.. What is the ratio of BTC/human ?

What could happen to the value if only 1% of every human want to buy 20$ of bitcoin this week ?

This is entering History, like reading a book : we just finished the intro and are at the begining of chapter one !

Yakamoto

legendary

Activity: 1218

Merit: 1007

A million in a long time maybe, definitely not anytime soon and you'd be delusional if you think Bitcoin will hit $1M within the decade without some sort of massive collapse of the system occurring that pushes everyone away from the traditional forms of money and into something like Bitcoin or whatever alternative forms of currency exist.
Basically the entire thing is a meme and not worth talking about.

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