Topic: 1 Million dollars per coin by year 2020. I am not kidding. - page 2. (Read 13723 times)
I prefer to value my BTC in terms of how many Big Mac's at the McDonald's down the street that I can buy with one Bitcoin. It's been hovering around 190 lately, so I'm pretty happy with that, lol. The only problem is that I'm really tempted to order 190 Big Mac's.
The Bitcoin price in this graph should be 31 December 2011 and NOT 31 December 2012
I'll sell my coin for $1 mill, any takers?
Not yet.
The problem is not your coin though. It is worth $1mill. Fair price.
The problem is there are still tons of coins available that are much cheaper.. on Gox, Stamp, coinbase....
Once these are all sold you can sell yours for its real value.
I'll sell my coin for $1 mill, any takers?
To me the real limitation is the 21 million. Although it drives price to some degree... if businesses start accepting it on a large scale, then there may not be enough bitcoins available. Also, the govs. banks, credit card companies etc. that want to kill it only have to buy all the BTC up for sale and horde them, never releasing them again for sale. I am very bullish for the next 5 years for sure though.
You cant buy all BTC because not everyone is selling cheaply. This is definitively not a way for banks, credit card companies etc. to destroy Bitcoin
To me the real limitation is the 21 million. Although it drives price to some degree... if businesses start accepting it on a large scale, then there may not be enough bitcoins available. Also, the govs. banks, credit card companies etc. that want to kill it only have to buy all the BTC up for sale and horde them, never releasing them again for sale. I am very bullish for the next 5 years for sure though.
You've been here since april, surely you have read enough around to know that the 21 million can be divided into mbtc, nbtc etc? Also, if anyone tries to buy all the BTC's we will get filthy rich and another crypto would take BTC's place.
Oh, I agree that us "mid-adopters" will get rich. Counting on it, actually. I don't know if another crypto could get a foothold too easily. Look at how much trouble litecoin is having. They should probably take what we all consider to be the flaws and improvements needed, and start anothe crypto now and maybe name in something indicating a relationship like Bitcoin 2.0
To me the real limitation is the 21 million. Although it drives price to some degree... if businesses start accepting it on a large scale, then there may not be enough bitcoins available. Also, the govs. banks, credit card companies etc. that want to kill it only have to buy all the BTC up for sale and horde them, never releasing them again for sale. I am very bullish for the next 5 years for sure though.
You've been here since april, surely you have read enough around to know that the 21 million can be divided into mbtc, nbtc etc? Also, if anyone tries to buy all the BTC's we will get filthy rich and another crypto would take BTC's place.
To me the real limitation is the 21 million. Although it drives price to some degree... if businesses start accepting it on a large scale, then there may not be enough bitcoins available. Also, the govs. banks, credit card companies etc. that want to kill it only have to buy all the BTC up for sale and horde them, never releasing them again for sale. I am very bullish for the next 5 years for sure though.
This is delusional, I dont think 6 figures are possible. 5? Sure, but not 6. The Goverment and "powers that be" are not going to let random NEET's that happened to mine and buy thousands of BTC back in the day when they were worth cents becoming the new world 1% clique, let alone people like us that clearly missed the boat and are hoping to become millonaires by owning not a couple BTC but one, lol. Not happening. Hope for a 5 figure peak at best, and keep in mind nothing stops the powers that be to simply declare Bitcoins ilegal if it ever becomes a serious threat to the status quo. Remember the fundamental value of BTC is 0.
So, at this point in time, unless you are already a millonaire that can gamble a couple millions to buy BTC NOW, then wait a bit, see if it gets higher and sell, you are not going to be a millonaire by owning 1 BTC, not in a million years (oh, and we are talking about the purchasing power of current 1MM$, aka all that matters). I hope im wrong but common sense applies to what I said. We are too late to the party. If you are wealthy in BTC, IMO, sell as soon as it gets to 5 figures but be aware of the risk you are taking by not selling now.
PS: If there is a big crash in Bitcoins before a big crash in FIAT, I dont think no one is going to take Bitcoins for real anymore.
So, at this point in time, unless you are already a millonaire that can gamble a couple millions to buy BTC NOW, then wait a bit, see if it gets higher and sell, you are not going to be a millonaire by owning 1 BTC, not in a million years (oh, and we are talking about the purchasing power of current 1MM$, aka all that matters). I hope im wrong but common sense applies to what I said. We are too late to the party. If you are wealthy in BTC, IMO, sell as soon as it gets to 5 figures but be aware of the risk you are taking by not selling now.
PS: If there is a big crash in Bitcoins before a big crash in FIAT, I dont think no one is going to take Bitcoins for real anymore.
I will take $10k per coin
That would make a decent enough impact on my life!
That would make a decent enough impact on my life!
I would settle for this price by 2020. I would love to see a $1,000,000 but that seems pretty unlikely.
Other currencies are extre,ely unlikely to see network effects adequate to bootstrap significant adoption unless there is some external force applied, creating incentives.
Same thing was said about bitcoin until about year ago: Small, niche, hobby currency. That external force you are talking about is simply market demand
cryptocurrencies are still in its early phase, so I doubt anybody can be sure about, who will be number one in ten years. Bitcoin has currently age and networking on its side. I remeber time, when Motorola was pioneer in the emerging field of mobile phones. Where is that company today? pipe dream. other crypto currencies would pop up, which would bring down BTC value.
blockchain confirmations take too long for BTC to be ubiquitous.
blockchain confirmations take too long for BTC to be ubiquitous.
A lot of you underestimate the size of the global economy. There are hundreds of trillions of dollars which can flow into Bitcoin or the others like Bitshares, Mastercoin or Colored Coin.
1 million dollars is not as big of a deal as you all seem to think. I think $500,000 is realistic and even $100,000, but 1 million is also realistic and its just a matter of how long it will take to reach it.
or maybe you tend to believe the things you want to be true.
if BTC explodes and becomes ubiquitous, i am certain there will be other cryptocurrencies in the market.. and that would dilute the value of BTC down a bit. there are still issues with BTC that we don't know will be panned out.
hypothetically if BTC were 1 million dollars, that would be a major shift in the way the world works.
1 million, yeah sure even next year when the dollar crashes and the US is dissolved? like 1 Euro is equivalent to $100,000?
Or it could start getting banned in every country kind of like how online gambling got banned in the US. I highly doubt any country will allow a massive underground alternate currency to be traded w/o any kind of regulation. And that would also mean massive drug, sex, and crime trafficking because its anonymous, a lot more than there is now.
Ubiquitous and decentralized then it is impossible to ban. You cannot ban me from betting on a sporting event with my friends using my word of mouth. You cannot stop me from making any bet I want to make with my speech. Now that my speech is global and I can embed it into any electronics device you simply cannot do shit to stop me from that.
And if you stop me, the next version will be even more ubiquitous and decentralized until it's in everyone's clothes.
pipe dream. other crypto currencies would pop up, which would bring down BTC value.
blockchain confirmations take too long for BTC to be ubiquitous.
blockchain confirmations take too long for BTC to be ubiquitous.
A lot of you underestimate the size of the global economy. There are hundreds of trillions of dollars which can flow into Bitcoin or the others like Bitshares, Mastercoin or Colored Coin.
1 million dollars is not as big of a deal as you all seem to think. I think $500,000 is realistic and even $100,000, but 1 million is also realistic and its just a matter of how long it will take to reach it.
What do you think?
It's so funny to think that we are living a time where anyone with couple of hundreds dollars can just choose to be millionaire in a couple of years.
It's so funny to think that we are living a time where anyone with couple of hundreds dollars can just choose to be millionaire in a couple of years.
Your right, there are only few such successfull business ventures in history where early adoption yields such high profits. Bitcoin is one of these already, and 1 Million dollars per coin by 2020 is very realistic
There are plenty of companies with adoption curves like bitcoin. But the SEC regulations keep you from investing until you are already at the top of the adoption curve, so you never noticed before.
pipe dream. other crypto currencies would pop up, which would bring down BTC value.
blockchain confirmations take too long for BTC to be ubiquitous.
Off-chain transactions could make BTC viable in the future. For now, we're no where near the point where BTC is going to be used for in person transactions. It's pretty ironic that people think that shorter confirmation times are a benefit for alt-coins. Reducing the confirmation time makes blocks less secure, and other cryptocurrencies don't have anywhere near Bitcoin's hash rate.blockchain confirmations take too long for BTC to be ubiquitous.
when you're paying for that $5 sandwich at subway, i doubt you as the subway (or say gas station) manager or the customer, will care that bitcoin is in theory "more secure." i think there is enough room for BTC to co-exist with LTC.
Or it could start getting banned in every country kind of like how online gambling got banned in the US. I highly doubt any country will allow a massive underground alternate currency to be traded w/o any kind of regulation. And that would also mean massive drug, sex, and crime trafficking because its anonymous, a lot more than there is now.
pipe dream. other crypto currencies would pop up, which would bring down BTC value.
blockchain confirmations take too long for BTC to be ubiquitous.
Off-chain transactions could make BTC viable in the future. For now, we're no where near the point where BTC is going to be used for in person transactions. It's pretty ironic that people think that shorter confirmation times are a benefit for alt-coins. Reducing the confirmation time makes blocks less secure, and other cryptocurrencies don't have anywhere near Bitcoin's hash rate. blockchain confirmations take too long for BTC to be ubiquitous.
this kind of chatter is not very important because it looks too far into the future. there are too many factors in play, of which we are not able to predict.. so what's the point in speculating crazy shit like this?
for now, hitting the $1,000 is a milestone, and then maybe $10k.
for now, hitting the $1,000 is a milestone, and then maybe $10k.
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