1 BTC = 1,000,000 usd | Bitcointalksearch.org

notme

legendary

Activity: 1904

Merit: 1002

Quote from: pabloangello on November 17, 2013, 05:12:28 AM

Quote from: aminorex on November 17, 2013, 05:06:02 AM

If btc users save their coins, and they do not circulate, then btc which circulate gain in purchasing power. When I last checked, the velocity of btc was 5.93, which is comparable to usd. However, since btc is a superior saving instrument, being deflationary, this velocity is likely to go down, driving up the value of a btc relative to goods and services. You can't compare money supplies to estimate relative valuations. You have to estimate money flows, M*V.

What is the velocity you are talking about? Any sources, explanations?

http://en.wikipedia.org/wiki/Velocity_of_money

BarsMonster

newbie

Activity: 39

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Quote from: neutralist on November 17, 2013, 04:54:06 AM

America can seize natural assets by using its military.

Currently imported resources are free for US (payed with printed paper). Any military operation will be much more expensive than that.

piramida

legendary

Activity: 1176

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Borsche

Quote from: bobmarley650 on November 16, 2013, 05:17:06 AM

impossible

thats why

21 millions btc * 1 000 000 dollars equals 21 trillion dollars. its not reasonable lololol

US external debt is almost equal to 21 trillion, or soon would be. and it's just one country. So in case US decides to pay off its debt in BTC (much more convenient than sending boatloads of gold), value would have to be at least 1 mil each.

pabloangello

legendary

Activity: 1344

Merit: 1001

Quote from: aminorex on November 17, 2013, 05:06:02 AM

If btc users save their coins, and they do not circulate, then btc which circulate gain in purchasing power. When I last checked, the velocity of btc was 5.93, which is comparable to usd. However, since btc is a superior saving instrument, being deflationary, this velocity is likely to go down, driving up the value of a btc relative to goods and services. You can't compare money supplies to estimate relative valuations. You have to estimate money flows, M*V.

What is the velocity you are talking about? Any sources, explanations?

aminorex

legendary

Activity: 1596

Merit: 1030

Sine secretum non libertas

If btc users save their coins, and they do not circulate, then btc which circulate gain in purchasing power. When I last checked, the velocity of btc was 5.93, which is comparable to usd. However, since btc is a superior saving instrument, being deflationary, this velocity is likely to go down, driving up the value of a btc relative to goods and services. You can't compare money supplies to estimate relative valuations. You have to estimate money flows, M*V.

pabloangello

legendary

Activity: 1344

Merit: 1001

Quote from: mearylll on November 17, 2013, 05:00:09 AM

Quote from: neutralist on November 16, 2013, 09:47:22 PM

Quote from: bobmarley650 on November 16, 2013, 05:17:06 AM

impossible

thats why

21 millions btc * 1 000 000 dollars equals 21 trillion dollars. its not reasonable lololol

The US national debt worth $17 trillion.

The American financial markets, derivatives and unfunded liabilities exceeded $1 quadrillion.

However all that can be paid off by minting a quadrillion-dollar platinum coin.

No need for quadrillion-dollar platinum coin, steady inflation will do the trick and interest from quadrillion-dollar debt can be payed. This infation trick is cheat, but you should never ever save USD as investment

So far dollar is more stable than btc ;p

mearylll

sr. member

Activity: 315

Merit: 250

Quote from: neutralist on November 16, 2013, 09:47:22 PM

Quote from: bobmarley650 on November 16, 2013, 05:17:06 AM

impossible

thats why

21 millions btc * 1 000 000 dollars equals 21 trillion dollars. its not reasonable lololol

The US national debt worth $17 trillion.

The American financial markets, derivatives and unfunded liabilities exceeded $1 quadrillion.

However all that can be paid off by minting a quadrillion-dollar platinum coin.

No need for quadrillion-dollar platinum coin, steady inflation will do the trick and interest from quadrillion-dollar debt can be payed. This inflation trick is cheat, but you should never ever save USD as investment

neutralist

member

Activity: 85

Merit: 10

America have oil by annexing canada and mexico. America can seize natural assets by using its military. America has manufacturing capabilities, just it is not woke up yet. America has too many Zionists, that's a major road block to prosperity.

BarsMonster

newbie

Activity: 39

Merit: 0

Quote from: Aristotle on November 16, 2013, 07:42:41 PM

I really don't think China and other countries will abandon the dollar anytime soon. If they wanted USD inflation, they could just sell all the U.S. treasury securities they hold. The entire reason they buy all these securities is to slow CNY deflation relative to USD. Countries with high trade surpluses with the U.S. would have the most to lose on USD inflation.

They don't sell bonds only because there is no use for all these money. You literally cannot buy anything with it. Free market is an illusion.

And when whole world monetary system goes down - those wins who have real manufacturing facilities. Read China.

neutralist

member

Activity: 85

Merit: 10

Quote from: bobmarley650 on November 16, 2013, 05:17:06 AM

impossible

thats why

21 millions btc * 1 000 000 dollars equals 21 trillion dollars. its not reasonable lololol

The US national debt worth $17 trillion.

The American financial markets, derivatives and unfunded liabilities exceeded $1 quadrillion.

However all that can be paid off by minting a quadrillion-dollar platinum coin.

Aristotle

newbie

Activity: 56

Merit: 0

Quote from: BarsMonster on November 16, 2013, 02:54:48 AM

You don't really need 21T$ for that. 1T$ is enough.
Anyway, dollar-hyperinflation is around the corner. We had hyperinflation of major currencies in the past, and will have it again.

1M$ for BTC might be reached easily this way. Of course this won't make you super-rich :-D

When it will happen? Right when China and other countries stop selling goods and resources to US for fiat paper.
Maybe next year. Maybe 2015.

I really don't think China and other countries will abandon the dollar anytime soon. If they wanted USD inflation, they could just sell all the U.S. treasury securities they hold. The entire reason they buy all these securities is to slow CNY deflation relative to USD. Countries with high trade surpluses with the U.S. would have the most to lose on USD inflation.

ninjafocus100

newbie

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in 3 minutes. lol Grin

jubalix

legendary

Activity: 2632

Merit: 1023

hang on but M1 is not what btc is looking to replace, more like finical instruments etc, that a much bigger amount than M1.

Given we price companies in currency eg, apple IBM etc etc, and we are making a currency here, I don't see why BTC will be much Higher than 1T.

Thenen

full member

Activity: 226

Merit: 100

That would take few hundred years when there is no such thing is miners...

pabloangello

legendary

Activity: 1344

Merit: 1001

Quote from: BarsMonster on November 16, 2013, 02:54:48 AM

Quote from: pabloangello on November 15, 2013, 06:52:58 AM

There will be 21 000 000 bitcoins.
If 1BTC would be 1 000 000 mln dollars then I ask

is there 21 000 000 * 1 000 000 == 21 000 000 000 000 dollars in the world? (21 trillion dollars)

You don't really need 21T$ for that. 1T$ is enough.
Anyway, dollar-hyperinflation is around the corner. We had hyperinflation of major currencies in the past, and will have it again.

1M$ for BTC might be reached easily this way. Of course this won't make you super-rich :-D

When it will happen? Right when China and other countries stop selling goods and resources to US for fiat paper.
Maybe next year. Maybe 2015.

Hmm, dollar is not only currency you can exchange BTC for.
Even with hyperinflation of dollar, let's think. What is the % of internauts (not even avarage people that use internet occasionaly) that has some bitcoins? 1%? Maybe even no. And now imagine that 100% internauts bought some BTC like every of them has fiat money on internet bank accounts. How many will it increase oBTC value? 10 times, 100, 1000? I don't know but I am sure A LOT couse there is limited about of bitcoin.

bobmarley650

legendary

Activity: 1232

Merit: 1001

impossible

thats why

21 millions btc * 1 000 000 dollars equals 21 trillion dollars. its not reasonable lololol

BarsMonster

newbie

Activity: 39

Merit: 0

Quote from: pabloangello on November 15, 2013, 06:52:58 AM

There will be 21 000 000 bitcoins.
If 1BTC would be 1 000 000 mln dollars then I ask

is there 21 000 000 * 1 000 000 == 21 000 000 000 000 dollars in the world? (21 trillion dollars)

You don't really need 21T$ for that. 1T$ is enough.
Anyway, dollar-hyperinflation is around the corner. We had hyperinflation of major currencies in the past, and will have it again.

1M$ for BTC might be reached easily this way. Of course this won't make you super-rich :-D

When it will happen? Right when China and other countries stop selling goods and resources to US for fiat paper.
Maybe next year. Maybe 2015.

pabloangello

legendary

Activity: 1344

Merit: 1001

Quote from: rocks on November 15, 2013, 04:25:32 PM

Quote from: pabloangello on November 15, 2013, 11:16:45 AM

Quote from: chaosknight on November 15, 2013, 11:01:53 AM

Most people would sell at $1000 so $1,000,000 is impossible...

Bitcoin $0.1 - most people would sell at $10
Bitcoin $10 - most people would sell at $100
Bitcoin $100 - most people would sell at $1000
...
..
.
.

It's completely possible that "most people" are selling at each price point you list above, it's just than every time there is a new larger set of buyers due to exponentially increasing adoption...

After these "psychologigal barriers" we had already two big drop downs. If this is so far the Bitcoin schema then I hopefuly wait for next big 'crash' to buy cheaper than now Wink

Bitcoin slowly starts to be talked about in mass media like tv/radio, developers will eventually make it easier for avarage non tech-nerd people so it should grow and grow. And then, when local greengrocer will start talk to you about Bitcoin, then it's time to sell.

rocks

legendary

Activity: 1153

Merit: 1000

Quote from: pabloangello on November 15, 2013, 11:16:45 AM

Quote from: chaosknight on November 15, 2013, 11:01:53 AM

Most people would sell at $1000 so $1,000,000 is impossible...

Bitcoin $0.1 - most people would sell at $10
Bitcoin $10 - most people would sell at $100
Bitcoin $100 - most people would sell at $1000
...
..
.
.

It's completely possible that "most people" are selling at each price point you list above, it's just than every time there is a new larger set of buyers due to exponentially increasing adoption...

neutralist

member

Activity: 85

Merit: 10

http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2013/11/Bitcoin.pdf

This hedge fund manager setting price target of 1 BTC = $1 million USD and re-iterate "Buy" recommendation.

Topic: 1 BTC = 1,000,000 usd (Read 6075 times)