1 BTC = 100.000 to 1 million is a possibility in 2035 - page 7.

MONKEYJUNK

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Quote from: NeuroticFish on September 09, 2016, 05:17:45 AM

Quote from: pereira4 on September 07, 2016, 08:49:21 AM

There will always be miners that find profit. If some miners leave, then the difficulty goes down and the system self adjusts itself to provide profit for other people. There will always be a clear incentive for some people to keep mining. As the price goes up, the deflation progress will not be a problem.

Actually if too many miners leave during a short period (less than 2 weeks) the network will have a hard time until the adjustment time comes.
Of course, the chance for that is small.
If the price continues to go up, then indeed the miners will stay. At least until the next halving we are safe with the current price range.

Quote from: MONKEYJUNK on September 09, 2016, 05:07:37 AM

Quote from: alyssa85 on June 29, 2016, 09:41:07 AM

Halvings don't make the price go up. Correlation does not mean causation.

Last time the halving coincided with bitcoin being discovered by the mainstream press. And Cyprus happened when they confiscated people's savings in a bail-in for the banks.

There is no big news to bump up bitcoin this time. It's the opposite - Brexit is a victory for the people, it makes Britain safer as EU rules like confiscating people's savings no longer apply.

I have the same thought, the halvings don't have a total control of the price.

And I doubt the price will have a big up in a long term, maybe a good alt can make the bitcoin price stay low...

If this stands true for the next halvings too, then I fear for Bitcoin's future.
For the last halving there was quite a rise in the price about half a year (I didn't research exactly) before the halving, a rise that allowed miners to cover their costs even after halving.

Well, maybe less people will mine and the competition will be more easy to earn bitoin from minning, people can mine others coins, it's all about the revenue, and you can exchange the alt for bitcoin after that...

I don't think the halvings will regulate the price in the future...

Amadues

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Quote from: yhansky on June 29, 2016, 08:29:17 AM

Wow!! That was huge.. and if that happens ,i will teach my wife and my kids and soon to be kids,to start earning bitcoin cause it will take us to a better living..i will teach them in the year 2020 while we are re waiting for that price.

earn money (fiat) or earn money (btc or gold) is the same. you need to teach what are the advantage of this technology

But In topic Cheesy

again, I think this is a really optimistic prediction and it's seems hard we can see this increase in the value.

Ybalevia

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There are people saying this is possible but I got my doubts about this to be honest, its nice if it will happen but we do not have to think about this.
Because its a speculations and it can also go down fast so I'm not sure about this at all...

Fatanut

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It's quite hard to predict dates like this. It's too far from today that it will as if like you're looking at the middle of the sea from the seashore and somebody asks you, "Can you see that goldfish in the middle part of the ocean?" Of course you can't, and asking somebody a question like this is quite foolish. You can't possibly know what will happen in 2035. A lot of thing can happen and change along the way.

OmegaStarScream

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I'm starting to think that halving doesn't do anything to the Bitcoin price even If the supply gets halved (previous July block halving reward is an example).
and you are wrong , It's more like 1 BTC for each person (21 million perso) but that's wrong as well If we take in consideration that there were tons of lost coins out there + 1 million coin that got mined by Satoshi.

martinacar

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Quote from: Maesters1- on September 06, 2016, 05:14:50 PM

no i do not think that it is possible in 2035, if the price of bitcoin reach to that level then most of the investors will not be able to buy a single bicoin and this thing will discourage the investors because they will not be able to trade it any more and thus they will be looking for some other places to invest their assets.

This is a good point.
For sure it will not get that high at anytime I think you are thinking too optimistic. Not enough people will use it for the price to get that high and if it would get anywhere near lets say 10k then everybody would mass dump which causes prices to plummet again youll be stuck in a vicious circle.

NeuroticFish

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Quote from: pereira4 on September 07, 2016, 08:49:21 AM

There will always be miners that find profit. If some miners leave, then the difficulty goes down and the system self adjusts itself to provide profit for other people. There will always be a clear incentive for some people to keep mining. As the price goes up, the deflation progress will not be a problem.

Actually if too many miners leave during a short period (less than 2 weeks) the network will have a hard time until the adjustment time comes.
Of course, the chance for that is small.
If the price continues to go up, then indeed the miners will stay. At least until the next halving we are safe with the current price range.

Quote from: MONKEYJUNK on September 09, 2016, 05:07:37 AM

Quote from: alyssa85 on June 29, 2016, 09:41:07 AM

Halvings don't make the price go up. Correlation does not mean causation.

Last time the halving coincided with bitcoin being discovered by the mainstream press. And Cyprus happened when they confiscated people's savings in a bail-in for the banks.

There is no big news to bump up bitcoin this time. It's the opposite - Brexit is a victory for the people, it makes Britain safer as EU rules like confiscating people's savings no longer apply.

I have the same thought, the halvings don't have a total control of the price.

And I doubt the price will have a big up in a long term, maybe a good alt can make the bitcoin price stay low...

If this stands true for the next halvings too, then I fear for Bitcoin's future.
For the last halving there was quite a rise in the price about half a year (I didn't research exactly) before the halving, a rise that allowed miners to cover their costs even after halving.

MONKEYJUNK

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Quote from: alyssa85 on June 29, 2016, 09:41:07 AM

Halvings don't make the price go up. Correlation does not mean causation.

Last time the halving coincided with bitcoin being discovered by the mainstream press. And Cyprus happened when they confiscated people's savings in a bail-in for the banks.

There is no big news to bump up bitcoin this time. It's the opposite - Brexit is a victory for the people, it makes Britain safer as EU rules like confiscating people's savings no longer apply.

I have the same thought, the halvings don't have a total control of the price.

And I doubt the price will have a big up in a long term, maybe a good alt can make the bitcoin price stay low...

Zadicar

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Quote from: InsideBjorn on September 09, 2016, 03:54:36 AM

Quote from: zimmah on September 08, 2016, 05:09:32 PM

Quote from: pereira4 on June 28, 2016, 10:15:48 AM

Considering that only 21 million people can own 21 BTC, those holding 21 BTC WILL have to be rich.

Only 1 million people can hold 21 BTC.

In practice even less, because there's plenty of lost coins, and it takes quite a while before 21 million coins are mined, and most importantly, there will be a few super-rich who have far more then 21 bitcoin.

So in practice, only a few 1000 people will have more than 20 bitcoin. Like maybe 100,000 persons or so.

And yes, those will be extremely rich.

I don't even think we will need to wait until 2035 for bitcoin to reach these kind of values either. But in 2035 it's pretty much a guarantee that bitcoin will be worth $100,000+ and probably a million or maybe even several millions.

I think you are partly right but its still the question if the bitcoin will reach this year to be honest I really doubt about this, I think something will replace the bitcoin soon or later.
I'm hoping we can become rich with the bitcoin and its pretty sick that its going over 100k but I hope it will happen!

We cannot guarantee on that chart that it may possibly happen. 2035 is a long way to go and we dont really know what would happen in those years but still the idea is somewhat have a point but some people do hold more than 21 btc even thousands. $100k price of bitcoin is too high in our speculation but we hope for that price .

InsideBjorn

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Quote from: zimmah on September 08, 2016, 05:09:32 PM

Quote from: pereira4 on June 28, 2016, 10:15:48 AM

Considering that only 21 million people can own 21 BTC, those holding 21 BTC WILL have to be rich.

Only 1 million people can hold 21 BTC.

In practice even less, because there's plenty of lost coins, and it takes quite a while before 21 million coins are mined, and most importantly, there will be a few super-rich who have far more then 21 bitcoin.

So in practice, only a few 1000 people will have more than 20 bitcoin. Like maybe 100,000 persons or so.

And yes, those will be extremely rich.

I don't even think we will need to wait until 2035 for bitcoin to reach these kind of values either. But in 2035 it's pretty much a guarantee that bitcoin will be worth $100,000+ and probably a million or maybe even several millions.

I think you are partly right but its still the question if the bitcoin will reach this year to be honest I really doubt about this, I think something will replace the bitcoin soon or later.
I'm hoping we can become rich with the bitcoin and its pretty sick that its going over 100k but I hope it will happen!

zimmah

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Quote from: pereira4 on June 28, 2016, 10:15:48 AM

Considering that only 21 million people can own 21 BTC, those holding 21 BTC WILL have to be rich.

Only 1 million people can hold 21 BTC.

In practice even less, because there's plenty of lost coins, and it takes quite a while before 21 million coins are mined, and most importantly, there will be a few super-rich who have far more then 21 bitcoin.

So in practice, only a few 1000 people will have more than 20 bitcoin. Like maybe 100,000 persons or so.

And yes, those will be extremely rich.

I don't even think we will need to wait until 2035 for bitcoin to reach these kind of values either. But in 2035 it's pretty much a guarantee that bitcoin will be worth $100,000+ and probably a million or maybe even several millions.

pereira4

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Quote from: amacar2 on September 07, 2016, 04:55:39 AM

Quote from: NeuroticFish on September 07, 2016, 04:11:04 AM

I'm curious what will happen to Bitcoin after the next halvings, especially the last one.
There's a chance that miners will leave the network leaving Bitcoin crumble to dust and there's a chance that only the transaction fees will cover the fiat cost of mining plus some benefits.
The range is pretty wide and the truth is always in the middle.
OP is correct. Any amount is a possibility in 2035, from 0 to any big number we can imagine.

May be some miners leave mining but i think majority of them will stay with their device because by that time most of the miners will have got their ROI back and after deducting electricity cost what they will be earning is pure profit for them. With supply and demand principle also, price of bitcoin should be as high enough by that time so that small portion of bitcoin as fee could be enough for them to get some profit. However nothing is guarantee and even real satoshi may also came up to media by that time, who knows what will be situation after that.

There will always be miners that find profit. If some miners leave, then the difficulty goes down and the system self adjusts itself to provide profit for other people. There will always be a clear incentive for some people to keep mining. As the price goes up, the deflation progress will not be a problem.

amacar2

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Quote from: NeuroticFish on September 07, 2016, 04:11:04 AM

I'm curious what will happen to Bitcoin after the next halvings, especially the last one.
There's a chance that miners will leave the network leaving Bitcoin crumble to dust and there's a chance that only the transaction fees will cover the fiat cost of mining plus some benefits.
The range is pretty wide and the truth is always in the middle.
OP is correct. Any amount is a possibility in 2035, from 0 to any big number we can imagine.

May be some miners leave mining but i think majority of them will stay with their device because by that time most of the miners will have got their ROI back and after deducting electricity cost what they will be earning is pure profit for them. With supply and demand principle also, price of bitcoin should be as high enough by that time so that small portion of bitcoin as fee could be enough for them to get some profit. However nothing is guarantee and even real satoshi may also came up to media by that time, who knows what will be situation after that.

NeuroticFish

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I'm curious what will happen to Bitcoin after the next halvings, especially the last one.
There's a chance that miners will leave the network leaving Bitcoin crumble to dust and there's a chance that only the transaction fees will cover the fiat cost of mining plus some benefits.
The range is pretty wide and the truth is always in the middle.
OP is correct. Any amount is a possibility in 2035, from 0 to any big number we can imagine.

phreaky

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I do not know if I have to believe this because you cannot look in to the future and the value of the Bitcoin is unpredictable.
It would be great if it would happen but I would not get my hopes up to high of I were you.

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Quote from: Maesters1- on September 06, 2016, 05:14:50 PM

no i do not think that it is possible in 2035, if the price of bitcoin reach to that level then most of the investors will not be able to buy a single bicoin and this thing will discourage the investors because they will not be able to trade it any more and thus they will be looking for some other places to invest their assets.

Have you thought this through? The real investors out there aren't going to pay it the slightest attention until one whole coin isn't a realistic prospect for most people. They can't put decent amounts in or out or preserve a fraction of their value with Bitcoin priced as it is. It's a piddly little curio right now to them.

Maesters1-

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no i do not think that it is possible in 2035, if the price of bitcoin reach to that level then most of the investors will not be able to buy a single bicoin and this thing will discourage the investors because they will not be able to trade it any more and thus they will be looking for some other places to invest their assets.

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Quote from: ABCbits on June 29, 2016, 12:34:59 PM

In the end, speculation is just a speculation. Halving isn't the real reason why bitcoin price raising up.
Without mass adoption or at least billionaire who interested in bitcoin, there's no way bitcoin price could reach that high.

This unfortunately ^^

Bitcoin will only continue to make price rises if people still show interest in buying. I really hope that we can see $10,000 bitcoin's within the next 10 years. That would definitely be enough to satisfy me at least.

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Quote from: DonQuijote on September 06, 2016, 05:27:22 AM

Quote from: Oralmat on September 06, 2016, 05:11:23 AM

If bitcoin alive than might be possible, but it is a long time period, definitely in that time money value also has been increased, so if bitcoin would be reached at 1 million, so in that time 1 million would be consider normal amount. But bitcoin always give us profit it depend on us how we utilize it.

I think like you, 20 years its a long time

Agree, 20 years is long enough and we could say that there are many things would be happen on those upcoming years to come but in the speculation of achieving the price of $1m seems to unrealistic and impossible to happen in my own view since bitcoin price as of now 2016 is just $600. Well we dont know what would be the future.

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Quote from: Oralmat on September 06, 2016, 05:11:23 AM

If bitcoin alive than might be possible, but it is a long time period, definitely in that time money value also has been increased, so if bitcoin would be reached at 1 million, so in that time 1 million would be consider normal amount. But bitcoin always give us profit it depend on us how we utilize it.

I think like you, 20 years its a long time

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