Topic: 100 satoshi = 1$ when? (Read 3255 times)

I guess you are pretty spot on. I believe the reason many people are 'waiting for' or counting on a global collapse of the economies is that they believe Bitcoin may profit from such a collapse in a remarkable way - which may be true, actually. People would be looking for alternative ways to store their wealth.

There are arguments for and against this. Many people tend to pull their money away from risky and speculative investments towards "safer" investments when the economy is in crisis.


Agreed, although Bitcoin is in a protracted beta phase so it's not really comparable to an actual beta product. I suspect this is the case due to philosophical rather than technical reasons.


The transaction fee is set by miners. If/when 100 satoshis are worth a dollar, miners will be accustomed to accepting transactions containing fees much smaller than the typical 0.0001-0.0005 BTC amounts we see today. The default transaction fee used by clients can also be adjusted as the value of Bitcoin grows. It has been changed in the reference client at least two times before.

It will come sooner than you think.  Buy now.

If 100 satoshis = 1$, then the transaction fees will be 100$...
0.0001 = 10000 satoshis = 100$

bitcoin can reach this crazy value without waiting the collapsing of fiat money or other stocks, but it is not a thing that you can build in 6 years only, when the software is still in beta, the current price trend is not a real indicator of the future, it could fall to sub 200 for rising even stronger after that

I will never even think of that. An global economic collapse although would, to a certain degree make people realize about finding an alternative way to store their wealth, but before that, bitcoin needs to first solve its own internal problem to make sure that it meets this criteria. Volatility in the price right now that points to more downward pattern is creating all the negative sentiment. So let's try to be more realistic here.

1BTC=$1,000,000?

This is called tail risk.

1BTC=$0

Is the other tail, and it's a fattish tail.

In order for the value of 100 satoshis to equal the purchasing power of $1 USD today, the price of a single bitcoin would have to reach $1 million. That means that Bitcoin itself would need to have a market cap of $21 trillion. Such a large market cap would only be possible if Bitcoin replaced all fiat currencies everywhere in the world. That means there would be no USD, no CNY, no JPY, no GBP, no EUR, etc. This is the best case scenario for Bitcoin and it's also one that Hal Finney even considered and hypothesized about back in 2009 during his conversations with Satoshi:


However, it's also far from straightforward. It's easy to go from a $1,000 market cap to a $1 million one or even a $1 million market cap to a $1 billion one but it's much, much harder to go from a $1 billion market cap to a $1 trillion one despite the increase in magnitude being the same.

How many businesses with >1 billion dollar market caps do you know of? I'm sure you can think of many. Now ask yourself the same question but with >1 trillion dollar market caps instead. If Bitcoin does ever end up overtaking all national fiat currencies, then we will eventually see coins worth $1 million. But you can't really compare the step up from $1 to $1,000 with the step up from $1,000 to $1 million. They're two completely different things.

There will only be a 'big' crash when the powers that be want a big crash and who is to say we will even be alive for the next who is to say the next is not the end of life as we know it so it would not matter about bitcoin it would be back to the gold standard which is really the best system and has proven so for 100'- 1000's of years.

Lets just say that people do want to and are allowed to leave fiat, the price could be 100sats to $1 it could even be 10sat to $1 i guess it all depends how inflated the dollar gets but judging by current standards it will be no where near these predictions and as said who is to say they will let another crash happen.

No to 100sat to $1 in most scenarios

thats what they said about going to the moon. or bitcoin reaching 1$ LOL

Time will decide when will it be happened. Hoping one day for a shooting stars for bitcoins.

Less than 0.3% of earth population can EVER have 1 bitcoin (on a long term basis).

Dunno, but if we can convince 100M people to use BTC we will have some good profit

impossible 

Reaching a market cap of a tens/hundreds of millions/ low billions is a comparative piece of piss. There's room in the world for that to happen thousands of times over.

If you're aiming for a trillion or more there'll be a whole planet to convince.

A long time ago: 1 bitcoin for 1/10/100/1000 dollar was too IMPOSSIBLE, so said people..  

i think 50% fiat and 50% not direct sellable shares. bitcoin as a whole should be valued much and much higher. especially if you look at the possibilities of bitcoin.

The question is whether Snapchat was paid for with FIAT money or whether they actually used stock shares, or whatever. The market capitalization of Bitcoin (and other assets) says nothing about the total amount of money that actually went into the asset! There haven't been $3b invested into Bitcoin - which is a good thing if you want higher prices. This means that we would be no where near the top!

if economic crisis happen, people would go to precious metal like gold
gold price will skyrocket if economic crisis happen
bitcoin will get attention from people if many people think bitcoin is safe haven for their wealth

If 10% of world population want to own 1 bitcoin, it will be $1m. But it will not happen soon.