Topic: 100 bitcoins. Will I be a millionaire by 2020? - page 20. (Read 77417 times)

If you did cash out a million dollars to your bank account, aren't there some legal/technical issues to consider, right?

I think you will be a millionaire by 2017 (first half).

Well I would be happy if I had 10 Btc,  and 100 it would be a dream.
Anyway all those who have now more then 100 btc I consider very lucky people...
and potential millionaires

Banks aren't audited daily to make sure they have the money people deposited, and the money they are loaning out. Yet people trust banks.

Sure, many current bitcoiners cannot trust anyone, and require solid proof of everything. But if bitcoin goes mainstream, the vast majority of people won't care if bitcoin companies operates with fractional reserve. And they won't care if there are effectively 21,000,000,000 bitcoins that are $100 each instead of 21,000,000 bitcoins that are $100,000 each, because they weren't early adopters and won't get a huge return on their investment. In fact, I bet they'd prefer the first outcome, since people have this tendency to want others to fail as well if they didn't succeed themselves.

Yes, you will be a millionaire by 2020.

Unfortunately by then, a loaf of bread will cost you $1000.

what will happen though is only exchanges that daily sign addresses with holdings eg proof of reserve will be trusted over time

eg they say we store our coins on these addresses then sign messages etc, or move coins to address y.

With in that time frame anything could happen take for a fact that our capital is only close to 4 billion if we get at lease one country to fully accept bitcoin and put part of the national budget into bitcoin this could explode to 100k a bitcoin or who knows is a wild thought but it could happen.

I personally believe that Bitcoin may well explode in value as more and more people begin to use it.

there was a chart that was telling that bitcoin is in basically top 5(very near to touch it) in the TX volume and top 5 in many other sector compared to visa, it is only a matter of more recognized, among average joe, before this baby  take off again

anyway as you could have read it, i didn't say this year, but the next year, this year is mostly to prove that we are going out of the bear market

Wow, so much optimism in this thread. Realistically, My personal prediction is for a price around $2,500 by 2020. I could not fathom Bitcoin meeting the predictions of people in here guaranteeing 10, 20, even 50 thousand dollars per Bitcoin. As much as I would love to see that, that seems like an insane overestimate.

Chances bitcoin will not die (as in, become insignificant) after 5-10 years: 80%

Chances of bitcoin's price being manipulated so that it never goes above 4 digits: 30%

Chances of bitcoin's price going above $10,000: .8 * .7 = 56%

Chances of bitcoin being a poor investment: ~30%

What happened with the other 16%? Well, bitcoin might be manipulated so that it goes up a little bit.

I don't see bitcoin stopping at $10,000 once it gets there, if it gets there. There's no reason for it to be so. If bitcoin becomes widely adopted, we will know what markets it will have disrupted. Will it be the credit card market? ecommerce? remissions? store of value? back-up against fiat currencies? Some combination of those? Whichever market it penetrates, the end result is that it should have a marketcap that will allow values far larger than $10k per coin.


That said, one very real danger, other than bitcoin fading away as a fad, is fractional reserve. Yes, "real" bitcoins cannot be made into fractional reserves. However, companies like coinbase or xapo or circle can operate on a fractional reserve, and if enough people trust these companies, it will have very real effects on the economy, because of potentially tens of millions of extra supply.

Given how many people in the world are clueless today, or choose to trust whatever large companies or governments they interact with, I think it's quite likely that potentially some large company can and will operate with fractional reserve bitcoins. We can only hope that it won't have such a large impact as I'm imagining.

I'm the most pessimistic person on this planet and even I feel something good is close. I agree with the above.

10k might be possible if the stock market drives it there. Currently it's too volatile and not enough adoption.

I don't see it otherwise happening unless the dollar hyper-inflates.

10k isn't tiny and it's not going to go there anytime soon especially not this year. What makes you think it will go to 10k? There would need to be huge adoption for that to happen and aside from this little price hike that we've had recently bitcoin has been doing pretty poorly price wise over the past year or so.

If you think its never going to happen, Wtf are you doing on a Bitcoin forum??

Whether you like it or not Bitcoin is gaining traction and its only a matter of time before that translates into higher value per btc

Any other scenario doesn't make sense especially if you factor in the scarcity of the limited supply and the constant reward halvings

same, but what i believe is that 10k is tiny and it could be reached in the next year, with all the premises that we have right now

price don't go side by side with waiting, great increase can happen in a total random way, actually great increase does happen often in a random way

because of this i'm expecting from here until the halving a big jump over the previous ATH

The more I think about it  kinda don't see how BTC won't at least bubble over 10K at least in the next 5 years.

Very optimistic, but I like the numbers  ... leaving out the next bubble dates gives these targets a little less room for scrutiny as they can always stay possible   

$500,000 per Bitcoin, baby. The math behind it.
https://bitcointalksearch.org/topic/500000-per-bitcoin-baby-the-math-behind-it-720179

what makes you think we'll see the price of bitcoin go over $40k per coin? if you think it will happen, make sure you go all in now, to have insane profits in 2020. keep dreaming.