Topic: 100 bitcoins. Will I be a millionaire by 2020? - page 27. (Read 77417 times)

Lifechanging is so subjective. If you are a middle-class Australian, for example, $20,000 probably won't change your life. You can buy a better brand of car or live in a slightly better house.

If you are a middle-class Chinese from the provinces (e.g. Jinan), $20,000 could totally change your life. You could buy a small shop or buy a small rural house.

100 bitcoins is probably the bare minimum that a middle-class person living in London, San Francisco, New York, Moscow, Shanghai, Tokyo, etc. needs to change his life.

It's really hard to know what amount potentially could be a life changing number of btc to hold for the future. I mean 5 btc is pretty difficult for a lot to stash. This may not be that life changing....but who knows, 1 may be enough!

100 bitcoins. Well, wouldn't that be nice!

still too early, still 3-4 months right? i don't think 3 months are enough for sustaining a great increase, but everything could happen, right now i have only a small amount, i need to accumulate more before the end of this year, because the long we wait the more hard will be to accumulate more, the price could rise too much for us poor people

late 2015 maybe?

Do you really belive this?
I have an wallet that I kip my big coins if is like you said I will be very rich!lol
Thank you for this.

Very well laid out argument by jehst. Totally agree

The black market alone could get us to 10k. Think about it:

9 million per day is ~3.3 billion per year.
In the United States, the illegal drug market is a 100 billion per year industry. Less than 1% of that business is conducted on the web.

It took internet shopping 15-20 years to go from near zero percent of retail sales to the situation now in 2015 where 7% of all retail sales take place online. We needed Paypal, reputable brands (like Amazon), and time for the idea of shopping online to diffuse into popular culture.

Bitcoin is what will allow black market internet drug sales to go from near zero percent of drug sales to something closer to 7% over the next decade.

7% of 100 billion in the US will be 7 billion per year. That's far more than 9 million per day. (It's ~19 million USD per day.) That is totally ignoring Europe, Canada, and the rest of the world. And totally ignoring any other use-case for bitcoin.

Gemini, COIN, colored coin NASDAQ, and Wall Street taking us to the moon in a speculative frenzy ... that is all wishful thinking. But these people who are buying drugs every day on the Silk Road-like marketplaces need bitcoin every day. It's not a matter of speculation or market sentiment. They need the coins to run their businesses. In some cases, they need the coins to satisfy their addictions.

And it's just a matter of time before these buyers and sellers collectively need 19 million USD per day worth of bitcoin. That's enough to eat up the entire 2021 daily supply of new BTC (900 BTC) at $10,000 per BTC and then ask for more from existing holders.

I don't see bitcoin as a huge gamble anymore. Those dark net markets are already in place and rapidly growing every year. Already, these markets offer better prices and better availability than local drug markets for most people. The same way that Amazon did on the clearnet. So we're steadily marching towards more daily demand. At the same time, we're steadily marching toward blockhalvings that decrease daily supply. These two developments are uncontroversial.

If the dark net markets turn out to be a 3-5 year fad and people stop ordering drugs with bitcoin within the next few years and the markets stop growing, then I'll be wrong. I've been wrong before. I don't mind being wrong nine times as long as I'm right once.

When me brain's in gear I'll be sure to step up to the plate.

What I find tiresome is when someone lays out a carefully thought through position and the response is 'no it isn't'. Not only is it bone idle it also shows they can't be bothered to do any thinking. They should bat it back with their own thoughts and figures if they disagree.

exactly

because all of the links are about money supply inflation, although it is relevant to the price you can not directly connect it to how the price will be and say it can reach 10,000 USD.

honestly i agree with what OgNasty said. and since i am not seeing any mass acceptance i can not accept that bitcoin can reach 10K$.

when there is no indication of big payment processing services like paypal or amazon, etc accepting bitcoin and instead we see things like these every day:

MasterCard: Digital Currency’s Risks Outweigh the Benefits (2015)
MasterCard Executive Argues Bitcoin Can't Be Trusted (2014)
Bitcoin Will Be Used For Illegal Transactions
FBI Fears Bitcoin's Popularity with Criminals

i don't see any indication of price rising to those big numbers anytime.

p.s. i must add that although i said all the negative stuff here, i don't believe that it is all bad, and am not trying to post a bitcoin is doomed reply thingy.



you can respond too, if you have anything to add. i would be glad to hear it.

Think global. The world probably spends more than $9 million a day on intimate wipes.

Yeah. Partly correct though it is quite risky.

i'm still doubt in 2020 that bitcoin prices will be rise more than $1000 and i think for the next 5 years only 100 btc is won't be enough to make you be a millionaire

In 2020 we will have a 6.25 btc block reward.  But for a $10k coin $9 million a day would have to flow into the ecosystem.  That seems like a stretch.  Maybe in 2024.

I think it is a good invest, of course. But you should hold your bitcoin for enough long time , at least 5 years.
In short time, it is difficult to predict its value. But bitcoin will be more valuable in the long run.

$10,000 per coin seems like a nice amount, is it possible? Imo no I don't think it is and saying that I don't believe 100 coins will be worth a $ million. I would aim for 1000 coin by 2020 of before which has a high chance of making you a millionaire or at least very close to.

No. 2016.

I guess, trading bitcoin is a kind of that all-in casino generally

Exactly. Don't go selling your house for bitcoin (unless you have another one ) But it's certainly a good bet to at least put your discretionary income into it.

Only risk what you can bear to lose. If you're willing to risk it(considering your can sustain yourself through other sources of income), it may be worthwhile, but as someone already mentioned, by 2020, you can either become a millionaire or have literally nothing.