Topic: 1BTC Reaching 1million Still Unrealistic - page 2. (Read 568 times)

No need for further explanation here.
We all believe that Bitcoin will reach this price anytime soon. Not this year or in the next 3 years but maybe this decade.

Is that achievable?? Yes for sure. We've seen Bitcoin from a few cents in 2008 to $42,000 (ATH) in just a matter of 12 years. No investment or asset can make a jump like that. Only Bitcoin so why be pessimistic on it . Just buy Bitcoin, follow the trend.

Alot of people keep their BTC and crypto in exchanges and this is why it looks like most of the supply is in the hands of a small group of wallets. However in my opinion, at least right now, BTC is more distributed than most other assets out there like stocks. Sure people own stocks however most of it is also owned by a small group of people. Same with the distribution of Gold.

So if a exchange has 1,000,000 Bitcoins, they could be holding those bitcoins divided by 1,000,000 people and each person holds an average of 1 coin. If more and more people used cold storage or hardware wallets then it would be more distributed however most people rather just trust the exchange for security than keeping it on their hot storage.

Many people don't buy Bitcoin when the price drops below $ 5000, because very few really believe that Bitcoin can go up again. Then in 2021,
Bitcoin has surprisingly managed to increase its price above $ 40k, whereas when Bitcoin is below $ 5000 it must be unrealistic for Bitcoin to reach
a price of $ 40k. But Bitcoin is a very special asset, it can come as a surprise. Thus perhaps reaching a price of $ 1 Million now is very unrealistic,
but in the future a price of $ 1 Million Bitcoin is very realistic to achieve. So I never hesitate to collect as much Bitcoin as possible.

You can upload the pics that you wanted to post here mate, just this link of your needed pics https://m.imgur.com/gallery/YBvGxz4
Btc still capable of that predictions, just what's happening as of this days no one ever expected this to that $30k and above have achieved by bitcoin.

like this

Just make things simple and the same from the past many doesn't believe that bitcoin will get a value or even rise up to $40k+ each that's why many throw out their coins and sold it earlier so by now many of them regret on what they do from the past since it will make them a millionaire if they hold today, that's why be open on possibilities since those things might possibly come so for you not to regret all things best to buy a little sum and hodl it for future use.

It definitely isn't possible now, but in the future it will be. The thing about this is bitcoin is that it's not based on fiat, or in that matter anything that backs the price of fiat, so completely seeking for bitcoin's price to reach $1M doesn't necessarily mean it's going to be a very high amount in the future, on the account of inflation and a possible hyperinflation of the USD.

This is a fact I had considered...
inflation will kick in... which means even if it worths 1million dollars in 10 years... but might only be $500,000 today's money....
Nice thought

There's a mistake in the way you count this. A lot of coins is lost and some coins will never be up for sail because people who hold them will simply use them as colateral or a safety fund so to them it doesn't matter that much if it goes to 100 thousand or 1 million. They will still hold.

We don't have 21 million mined yet so your number is already down by 20%.

Out of the coins that were mined and weren't lost maybe half is available for purchase. You don't need 21 trillion dollars for anything. Even if the price hit that level this his number would only exist in statistics.

"Sheeps" will buy them.  We all know that there are groups of people that always follow the trend.  They FOMO when there is a lot of hype, shaken when the FUD is too heavy.  They always bend to what these manipulators wanted them to do.  So the idea of no one will buy BTC when it reaches a million dollars is somehow refuted by this fact  .  People will always speculate and always try to take profit even if it causes them to lose their money. But I agree that price manipulation will play a huge part in reaching this 1 million dollar apiece milestone.

With the ATH around $40k, it's 25x price increase to reach $1m per BTC. To put this in perspective, it is as unrealistic as it was when Bitcoin cost $1600 that it would cost $40k one day. It's hard to imagine, I agree. And yet it not only happened, but it took the price less than 4 years to go from $1600 to $40k, so Bitcoin worth $1m by 2025 would actually just be repeating history. As the price gets higher, it feels less and less realistic that an even 5x increase is going to happen. And perhaps there's truth to it if you believe that Bitcoin gets less volatile with time and the price stabilizes. However, Bitcoin is just too young for us to be able to seriously assess where it's going and whether it is indeed getting more stable.

We can truly not know yet what the upper tier of potential in price increase is since Bitcoin is still a very new technology in a whole new industry.

Yes, with it being used as a store of value it has it's limit. If it's used as a reserve currency by a few countries it has it's limits. But we cannot, in any way or shape know, how things pan out in the future; especially on the long term. The main use case of Bitcoin may still be as of yet undiscovered. It could be something springing from Bitcoin, some other use we don't know yet. What if Bitcoin becomes the major trading utility in the future between mars and earth, or it becomes the primary world currency used by almost everyone. Technology and society can change very quickly. Who here still remembers when everyone used VCR's, Land Lines just 20 years ago and now we have the internet; smart phones, streaming for EVERYTHING. Even just 120 years ago humanity barely got off the horse and buggy into cars and just started using electricity. So perhaps it's unlikely that 1 Bitcoin can reach a Million Dollars in the next 20 - 30 years, but let's face it in 50 - 100 years it's not only possible but quite likely.

And do you think that states will only watch how the real valuable objects of the world around us will slowly lose value due to the rise in prices for decentralized cryptocurrency? Don't even dream, it won't happen. Apparently, as the price rises, bitcoin will face stricter regulation by governments. This year will be indicative in many ways: both in terms of the ability of bitcoin to reach price heights, and in terms of responses to this price increase on the part of states.

The only solution to this is to hodl Bitcoin today no matter how small we have as long as it is Bitcoin it will count when price reach like a million dollar a coin. For worst case scenario Hodl will makes any sense mark my word.

I don't think anybody will buy any btc from those prices. I am not saying it can't reach those prices it very well can but it will be a manipulated price probably. Most of the bitcoin supply is being controlled by what, like 1000 people? They can send the price to $1m or even $1b. Yeah, $1 Billion.

Other investment will probably be outdated if that happens. Real estates, stocks, and metals will still exist but only minimal investors will invest on it of bitcoin reached that kind of price. That's is somehow reasonable, if bitcoin reached today's price from scratch or zero, then it is also possible that bitcoin can reach $1,000,000 in the near future. But the question is "when?", maybe that span of time is so long that we're already dead and the next generation is benefiting our bitcoin. That's the reason why we should invest right now on bitcoin because this cryptocurrency can secure our future. Right now, you can invest in different investment to have other sources of profits in the market.

That's quite possible if you look at it's historic data and no, it is not even so unrealistic as you are calling it to be.
Bitcoin has been rising at a good pace and it is the trust that people have on bitcoin which is giving it it's value.
Unlike USD bitcoin is not so inflationary. The feds are printing millions of dollars every year out of thin air causing inflationary spikes destroying the economy.
I believe anything can happen because people have already started realizing this fact and how revolutionary bitcoin is.
Bitcoin reaching $1,000,000 will definitely happen in a few decades or may be soon.

At the end of the day, I would think that many people who have bought into Bitcoin would have gotten out before that figure ever comes, and Bitcoin will become a more, and more exclusive currency, which could either increase value more, or kill it completely . It completely depends on whether Bitcoin will still be accessible, and whether the demand is there. The great news is, Bitcoin can actually scale very well, when compared with traditional currencies. Yes, owning 1 Bitcoin, might be out of the reach of many people in the future, but that doesn't mean you can't own 0.000001 of Bitcoin. The only issue, is people are viewing Bitcoin as a traditional currency right now, that 1 Bitcoin is the goal for many people. However, any small amount of wealth you collect now, could very well make you a millionaire in the future. Bitcoin literally has a infinite price expansion right now, and I think most people are optimistic that we will see a new all time high, within the next few years.

It should still have quite a few people involved, but as I mentioned above it might price people out of owning 1 Bitcoin. However, as you mentioned Satoshi's do exist, and therefore Bitcoin is far better than scaling than any other currency that I'm aware of. Meaning, that even if one Bitcoin reached a million dollars, then it would still be accessible using Satoshi's. Unfortunately, the drawback is that becomes complex quickly, and the lack of a safety net, could mean a lot of people misplacing a decimal point, and losing money.

These are obstacles that I think will be overcome through various software implementations to prevent accidents from happening.

For now, it might be unrealistic since it's too far to happen yet and we aren't using satoshi yet to compare a single dollar but when the right time comes we aren't here anymore. I wonder if Bitcoin would still be active if that time comes but what if there's a currency that people are using in the future? I can't tell anything about the future yet but it's sure a wonderful year especially if Bitcoin is still in used and 1BTC is equivalent to a six-figure price. Isn't it amazing? The unrealistic price turns out real in the future.

Well it depends on market forces, just as we have seen the market movement in recent times. Let me buttress with this.

 Fixed Supply of Bitcoin.
With this core economic principle that btc is built upon, the demand of btc will always exceed the supply. What that means is an increasing surge in the price of btc.

Hence, btc would continue to rise provided there is demand by retail and institutional investors.

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There is nothing impossible. We have seen the following happening in the market lately.
1. How Dogde coin rose from a low level due to the activities of some powerful figures.

2.we have seen how Gamestop stock Price rose to a very high price due to the Redittors activities.

Hence, btc can rise to an unprecedented level if ceteris paribus.

[moderator's note: consecutive posts merged]