if bitcoin is allowed to scale, anything is possible.
right now, it is choking for air.
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legendary
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Core dev leaves me neg feedback #abuse #political
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?
I agree with you, $1 Million does look like too much to believe. Probably $50,000 to $100,000 max. But I think we will be able to predict that a lot better once the total supply is out there and there are no more bitcoins to mine. 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?
From then onward it will all be about the technology and then it will have more competition with alts. I feel one of the reason bitcoin is winning the competition so far is because it has been being mined yet.
Anything is possible with bitcoins and may be in future we will witness that huge price of bitcoins but to be honest its an insane and unrealistic value to think of as bitcoin can go higher in future but it will never go in millions for sure as its too high to expect from bitcoins.
For me bitcoin could realistically reach $500,000 in the future if you coule take a look and bitcoin statistics many countries started adopting it and merchant and services started using it as a payment method.
if an scaling solution like segwit could get implemented it will open up new and more functions and solutions to the bitcoin scaling and malleability.
If only the community would achieve consensus and then decide to activate this solution but if not it's still fine, many proposal will emerge in the future to fix bitcoin scaling problem.
if an scaling solution like segwit could get implemented it will open up new and more functions and solutions to the bitcoin scaling and malleability.
If only the community would achieve consensus and then decide to activate this solution but if not it's still fine, many proposal will emerge in the future to fix bitcoin scaling problem.
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?
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.
There's no way to predict the future. But one way to figure out how realistic it may be is to do some math to see what levels of adoption would be needed for the demand to drive the price to those levels.
We have an estimate X bitcoin owners today and Y bitcoins outstanding/mined and Z price per bitcoin.
So there's a relationship between X and Y to Z. If you change Z to $500,000 or $1,000,000 and solve for X you can find out how much adoption and demand would be needed. To get even more precise you should change the level of Y to reflect a future supply of bitcoin that would be higher than it is today, the effect of which will slow the price growth to adoption rate a bit.
The real challenge in the math is estimate how many users there are. There isn't good data on this, however we do have good data on the number of wallets open (currently at about 13.5 million).
Even if you google "how many people use bitcoin" you'll get an incredibly wide range of answers. In this case, take the lowest and highest estimates and create a range for your math.
Once you have a range based on the math you can determine how likely (or not likely) it is to reach that range of adoption to drive the price to $500,000 to $1M.
Maybe there's 10M bitcoin owners today. Could that number get to 100M? Absolutely, and if supply did not change than that would (in theory) raise the bitcoin price by 10 (so $20,000). Assuming no increase in supply, but another 10 fold increase in owners from 100M to 1B we (in theory) could have a bitcoin price of $200,000. We're only a fifth of the way to a $1M price per coin and we need just less than a fifth of the world's population to get there. This also assumes that each user maintains their current holdings and isn't buying more.
Another assumption to factor in (and one that makes reaching the price beyond this basic math more feasible) is considering how many businesses own bitcoin. Businesses can drive the price way up because they often have greater resources to buy the coin!
The discussion can get quite fun when we start talking about the math!
We have an estimate X bitcoin owners today and Y bitcoins outstanding/mined and Z price per bitcoin.
So there's a relationship between X and Y to Z. If you change Z to $500,000 or $1,000,000 and solve for X you can find out how much adoption and demand would be needed. To get even more precise you should change the level of Y to reflect a future supply of bitcoin that would be higher than it is today, the effect of which will slow the price growth to adoption rate a bit.
The real challenge in the math is estimate how many users there are. There isn't good data on this, however we do have good data on the number of wallets open (currently at about 13.5 million).
Even if you google "how many people use bitcoin" you'll get an incredibly wide range of answers. In this case, take the lowest and highest estimates and create a range for your math.
Once you have a range based on the math you can determine how likely (or not likely) it is to reach that range of adoption to drive the price to $500,000 to $1M.
Maybe there's 10M bitcoin owners today. Could that number get to 100M? Absolutely, and if supply did not change than that would (in theory) raise the bitcoin price by 10 (so $20,000). Assuming no increase in supply, but another 10 fold increase in owners from 100M to 1B we (in theory) could have a bitcoin price of $200,000. We're only a fifth of the way to a $1M price per coin and we need just less than a fifth of the world's population to get there. This also assumes that each user maintains their current holdings and isn't buying more.
Another assumption to factor in (and one that makes reaching the price beyond this basic math more feasible) is considering how many businesses own bitcoin. Businesses can drive the price way up because they often have greater resources to buy the coin!
The discussion can get quite fun when we start talking about the math!
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?
It's not realistic at all. With the rise of certain altcoins with a purpose which do things much faster & better I see Bitcoin if anything dying off as people choose to invest in other coins.
Nice FUD 2 post account.
Save for anything catastrophic happening (like, North Korea), I think it is possible. I just find it unlikely to happen within this next couple of years. It's around $1,700 and I'm not even optimistic that it would double by the end of the year. True, Australia and Japan has just announced they recognize bitcoin but I don't know if that would be enough to ramp up the demand to the point that it'll be doubling or tripling within the year.
Very delusional no way it ever goes that high. It might be fun for some people to dream about that, but it won't realistically reach that number.
People love to dream and then speculate about it, I don't know if bitcoin could achieve that but for now $10,000 seems more realistic.Bitcoin has huge potential to reach higher price of course, as people attracted to its advantages but there are some problems which need.to solve before we reach those prices.
$500,000 its too much price for bitcoin in the future.. and i think its impossible to happen in the future from $500k to $1m
Maybe i think 10,000 much more possible to reach in the future than what you are predicted..
For now we have still slow movement of the price that nearly to hit $2k value if we heard more good news that can affect almost globally the price of bitcoin can be increase more and touch $2k value soon.
Maybe i think 10,000 much more possible to reach in the future than what you are predicted..
For now we have still slow movement of the price that nearly to hit $2k value if we heard more good news that can affect almost globally the price of bitcoin can be increase more and touch $2k value soon.
With the way Bitcoin developers and the community are acting, a solid no.
Yup. Just one key explanation to make it plausible if one big and influential country in the world accommodates bitcoin as legal tender will make bitcoin price increase by 20%, just waiting for news from four big countries to make price prediction come true.
Japan recently legalizing bitcoin and the price increase was because there was more investments coming into bitcoin from the Japanese market and so is the reason we had a good rally.What all countries will be legalizing bitcoin in the near future and the main thing is whether we can expect more investments from these countries to see another rally. We're dead by then, if that happens people like Wu and Satoshi(rather their grandchildren)will become the emperors of the world 
. unfortunately by that time I predict a new currency replacing Bitcoin but it will exist no matter what.
I'm more comfortable with the prediction of $8000 per coin by the next halving in 2020 and thinking about far in the future then we should start buying land in mars starting from now before they colonize the planet.
Getting a price range of around $8000 is a realistic chance ,it is really difficult to get a price of $1 M bitcoin because no one in the right mind would dare to enter or purchase the coin when there is a astronomical price tag,i am sure i will sell off everything when the price reaches $10 k . . unfortunately by that time I predict a new currency replacing Bitcoin but it will exist no matter what.I'm more comfortable with the prediction of $8000 per coin by the next halving in 2020 and thinking about far in the future then we should start buying land in mars starting from now before they colonize the planet.
because i cannot handle myself if i am holding more than a couple of million dollars. 
1 million usd for one bitcoin is too ambitious and I doubt that will ever going to happen. It would need zillions of market cap to reach that valuation which is not really realistic. I think 10-12k USD is still possible and realistic but not anytime soon. It would take 7-10 years to reach that value.
Bitcoin is certainly a great investment now because we have the chance to get in at a cheaper price. However, the transaction block problem is one of the major roadblocks for the bitcoin to reach that price now. Once it is solved, we will see a good appreciation by the end of this year which will make everyone happy for sure.
Bitcoin is certainly a great investment now because we have the chance to get in at a cheaper price. However, the transaction block problem is one of the major roadblocks for the bitcoin to reach that price now. Once it is solved, we will see a good appreciation by the end of this year which will make everyone happy for sure.
We're dead by then, if that happens people like Wu and Satoshi(rather their grandchildren)will become the emperors of the world . unfortunately by that time I predict a new currency replacing Bitcoin but it will exist no matter what.
I'm more comfortable with the prediction of $8000 per coin by the next halving in 2020 and thinking about far in the future then we should start buying land in mars starting from now before they colonize the planet.
. unfortunately by that time I predict a new currency replacing Bitcoin but it will exist no matter what.I'm more comfortable with the prediction of $8000 per coin by the next halving in 2020 and thinking about far in the future then we should start buying land in mars starting from now before they colonize the planet.
i think its need more time to see bitcoin price is at $1M because we don't know when the price is suddenly increase in that price but i am sure that if more people is know bitcoin and they do many things using bitcoin, then the bitcoin price will be at $1M like the OP said and we only have to waiting when that moment is come.
Just one key explanation to make it plausible if one big and influential country in the world accommodates bitcoin as legal tender will make bitcoin price increase by 20%, just waiting for news from four big countries to make price prediction come true.
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