Reading through this thread just convinces me even more that the vast majority of today's bitcoin holders will have sold by the time the price crosses $100k. By the time it crosses $1m/btc, many will have hanged themselves, and many more will have panic bought back as the value of fiat collapses - their gained fiat acquiring but a fraction of the bitcoin they once held.
And all because they believed it impossible.
Topic: $1,000,000 would kill bitcoin (Read 7926 times)
Even $100,000 would kill it. If 1 sat (or even 100 sat) == $1 then the fees would grind the system to a halt. The fees would be so high relative to the amount sent, that it wouldn't be worth it. From an investment perspective 1 sat==1$ is a nice round number. From a users perspective, only being able to buy things divisible by 1$ is crap.
Bitcoin price is not limited by cost of the fee but by energy to secure network. Right now we spend less then a percent to secure Bitcoin network. With 20 times higher price there will be 10% of all energy used. Increase of energy price will definitively help. And I dont believe we will ever again have this cheap energy as of now.
Even $100,000 would kill it. If 1 sat (or even 100 sat) == $1 then the fees would grind the system to a halt. The fees would be so high relative to the amount sent, that it wouldn't be worth it. From an investment perspective 1 sat==1$ is a nice round number. From a users perspective, only being able to buy things divisible by 1$ is crap.
Don't stress out yourself yet we wont even reach up those numbers.Okay lets presume that we are already into these levels.Fees wont really be a big thing as long the network isn't congested.No matter what would be the price if the network isn't busy then fees would
really be just still on minimal state.
It won't reach that Top .. ever.. so don't worry:) 
That's what people said about bitcoin reaching $1000 back in the day, I'm sure. And then there were probably people swearing bitcoin would never reach $10k....then it did. So you never know. But as to OP's point, I've often wondered about this myself--if the price rises high enough, it might be cost prohibitive to actually send bitcoin. Maybe if you were sending huge amounts it might be worth it, but there's no way anyone would be foolish enough to send either small amounts (like those for purchases) or dust. I would imagine at that point there would be no more faucets, and the number of people actually using bitcoin for things would drop off a cliff. But who knows. Not me, I'm just thinking out loud here.
My guess is that if btc went to those moon prices that we never dreamed possible, people would start using altcoins in a big way--and there certainly are enough of them to choose from.
lol, $20k bitcoin will kill bitcoin because $20k bitcoin already did. Bitcoin will never reach $20k again, and certainly won't ever sustain prices where we're at now over the long term, much less above $20k.
Even $100,000 would kill it. If 1 sat (or even 100 sat) == $1 then the fees would grind the system to a halt. The fees would be so high relative to the amount sent, that it wouldn't be worth it. From an investment perspective 1 sat==1$ is a nice round number. From a users perspective, only being able to buy things divisible by 1$ is crap.
What a crock of shit...
Bitcoin is divisible far far far beyond a Satoshi.
https://en.bitcoin.it/wiki/Help:FAQ#How_divisible_are_bitcoins.3F
"How divisible are bitcoins?
A bitcoin can be divided down to 8 decimal places. Therefore, 0.00000001 BTC is the smallest amount that can be handled in a transaction. If necessary, the protocol and related software can be modified to handle even smaller amounts."
when bitcoin price was below $1 the transaction fees were 0.01-0.001 bitcoin. then it was changed and the fees at some point were fixed at 0.0001 bitcoin and then it was again changed and the fees were 1 satoshi/byte.
with higher price the fee level will also decrease and you can start paying 0.5 satoshi/byte instead of 1 and lower as we go higher in price.
with higher price the fee level will also decrease and you can start paying 0.5 satoshi/byte instead of 1 and lower as we go higher in price.
But this fixed price is only a fee withdraw from a certain exchange, besides the fee also changes. If it is a fixed fee for all, then it is certain that the Miner will also suffer a loss. Fixed only applied to exchange, but let the miners decide
not only on an exchange but there are some wallets that offers fix fees . gambling sites also offer fix fees but overall that still depends on the price of the coin . miners wont loose because they can still decide if they will mine your transaction or not but most of the time they will only prioritize transaction with a high fees .
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when bitcoin price was below $1 the transaction fees were 0.01-0.001 bitcoin
thats too much of a fee . when btc is below 1usd the fee should be around 0.00000001 or lower but now that btc is expensive , most fees are set to 0.0001 and higher depending if on its priority . high priority transaction cost more . mid priority cost medium and slow is the cheapest but it can take a long time .
Satoshi Nakamoto could pay 5% of USA debt if bitcoin hit that price, just make the math, BTC1M * $1M
while USA debt is 22,400,000,000,000
Source: https://www.usdebtclock.org/
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$1,000,000,000,000
while USA debt is 22,400,000,000,000
Source: https://www.usdebtclock.org/
The national debt is a farce. Nobody is associated with it except government. If government and the banks collapse, people will still go on just as they have been. Talk that the national debt is a debt of the people to ... whom... is just talk that keeps the banking system going.
When the collapse comes, bitcoiners might be way out ahead of everyone else, because, bitcoin won't collapse when the banks and government do.
I do economically and technically not see how any price would kill Bitcoin
when bitcoin price was below $1 the transaction fees were 0.01-0.001 bitcoin. then it was changed and the fees at some point were fixed at 0.0001 bitcoin and then it was again changed and the fees were 1 satoshi/byte.
with higher price the fee level will also decrease and you can start paying 0.5 satoshi/byte instead of 1 and lower as we go higher in price.
with higher price the fee level will also decrease and you can start paying 0.5 satoshi/byte instead of 1 and lower as we go higher in price.
But this fixed price is only a fee withdraw from a certain exchange, besides the fee also changes. If it is a fixed fee for all, then it is certain that the Miner will also suffer a loss. Fixed only applied to exchange, but let the miners decide
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I think even $50,000-$100,000 it would kill bitcoin. I mean if people filled their bags with bitcoin now while it is still low, they will surely sell it with 5x-10x the price.
Yes, that is why people now are buying a large amount of bitcoin because they don't want to miss the chance to sell it 5 times from the buy price. They want to make a big profit of bitcoin later, and they can wait for a while because they know, and they believe that bitcoin will increase higher in the future. But I cannot imagine if bitcoin price will rise and hit $1,000,000, what will happen later, and that is a big mystery for us.
Even $100,000 would kill it. If 1 sat (or even 100 sat) == $1 then the fees would grind the system to a halt. The fees would be so high relative to the amount sent, that it wouldn't be worth it. From an investment perspective 1 sat==1$ is a nice round number. From a users perspective, only being able to buy things divisible by 1$ is crap.
Lol even till our generation gone 1sat=1$ won’t happen because bitcoin need to first reach a hundred million value and that won’t happen until the end of the world lol that’s a total BS ideaThe average person in the world can't afford 1 bitcoin. It is a big mental barrier that 1 "coin" is worth over ten thousand dollars since mbtc and other smaller denominations are yet to receive mass adoption. The fees are worrying but if that is someone's main concern there are many altcoins to choose from.
Absolutely mate,it is very impossible that every people in the world can even hold 1btc each and also impossible because bitcoin has limited volume 
The average person in the world can't afford 1 bitcoin. It is a big mental barrier that 1 "coin" is worth over ten thousand dollars since mbtc and other smaller denominations are yet to receive mass adoption. The fees are worrying but if that is someone's main concern there are many altcoins to choose from.
I think even $50,000-$100,000 it would kill bitcoin. I mean if people filled their bags with bitcoin now while it is still low, they will surely sell it with 5x-10x the price.
The guy who said "21 quadrillion" can't do math.
Nobody said 21 quadrillion.The figure that was mentioned was 2.1 quadrillion, which was in response to the claim that 1 sat = 1 dollar, in which case the calculation is 21M bitcoins * 100M satoshi per bitcoin, which is indeed 2.1 quadrillion dollars. This figure could only be reached if either bitcoin becomes the singular global currency, or the dollar hyperinflates and collapses.
Bitcoin $1,000,000 is very plausible in the coming decades. That would put its total market cap, once all coins are minted, at 21M * 1M = $21T which should be on par with the total supply of US dollars.
The guy who said "21 quadrillion" can't do math. 12 zeros is a trillion, not a quadrillion.
The guy who said "21 quadrillion" can't do math. 12 zeros is a trillion, not a quadrillion.
You have a point. I do think that this will be the downfall of bitcoin's image in investors. A lot of investors does not support the big fee in transactions especially those traders. I suppose that we do really need the developed LN and segwit that time. It might help.
Even $100,000 would kill it. If 1 sat (or even 100 sat) == $1 then the fees would grind the system to a halt. The fees would be so high relative to the amount sent, that it wouldn't be worth it. From an investment perspective 1 sat==1$ is a nice round number. From a users perspective, only being able to buy things divisible by 1$ is crap.
You are using your imaginative mind too hard. Here it is: Bitcoin going back to 1$ would definitely kill Bitcoin, even 100$.
I do not actually think that long-term in terms of Bitcoin's price. Plus, even if Bitcoin would reach $1,000,000, 1 sat is still less than a dollar.
Well, we'll cross the bridge when we get there. Oh no, wait, we definitely cannot arrive at such bridge. We are already walking dead by that time!
Thats true.More higher the bitcoin goes more higher the fees will go.Not only that if bitcoin reach 100000 do you think they keep their bitcoin and waited? I don't think so.Also whales will sell their bitcoin.No more more HODL.Everyone will collect their money and leave.Bitcoin will be useless any more.Market will crash to the ground also that will be end of other cryptos too
Most likely there would be people still holding even if it goes over $100,000. When Bitcoin was at its high last time there's people that held and even shared their losses, the same thing goes at a higher price. If there's a big run again many would sell their coins but not to the point where it would die. Imo it'll be similar to how low the price was last year.
I think this is very possible. People may not think it will be able to reach $100,000 or even close this this number but if you look at the charts, you can see that every time Bitcoin dropped by 85%, it would go up and exceed its previous ATH. It may not happen at the exact dates but I think it will happen. People would fomo in bitcoin as good news lands bringing the price up.
Charts data tell us about investor behaviour and their behaviour tend to be similar each time. Having said that, everything are just predictions and no one can be 100% sure that this will happen. History doesn't always repeat itself but following historical trends is better than just making random predictions.
Charts data tell us about investor behaviour and their behaviour tend to be similar each time. Having said that, everything are just predictions and no one can be 100% sure that this will happen. History doesn't always repeat itself but following historical trends is better than just making random predictions.
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