Would 8% of the world's wealth be that much, considering it's a global currency giving you some freedom no other currency is able to give?
I don't think $1M/coin is far-fetched. It's less than 30x the current price - and there have been larger bumps in BTC's history. Bitcoin's proven many, many people wrong when it comes to how large and powerful it can become. If it was able to get to $37k from nothing, why would it stop here?
Topic: 1BTC Reaching 1million Still Unrealistic - page 3. (Read 568 times)
I stumbled on a post on this platform about 1 sat being $1, but am gonna do a simple calculation if 1sat was equal $0.01...
I just want to do some mathes, if you don't like mathematics, stop reading already...
Currently the total wealth in the world is sitting at $360trillion, cool....
It won't make sense if the total number of BTC that will ever be takes more than 8% of that number, let's do the math already
If 1BTC is worth $1,000,000
Therefore 21,000,000BTC will equal
21,000,000 × 1,000,000 = $21,000,000,000,000
Thats what $21trillion, almost 8% of all the wealth in the world??
Wealth measures the value of all the assets of worth owned by a person, community, company, or country. Wealth is determined by taking the total market value of all physical and intangible assets owned, then subtracting all debts.
So if BTC takes all 8% to itself, what about real estate and all the other sectors??
P.S I didn't do economics anyways, and by the way how do I add pictures on my post??
I don't think that it is unrealistic because if you really have a positive mindset then you have to think that bitcoin can reach any amount you want it to reach. Maybe it really cannot reach 1 million but if you always think on a negative way even if it is true, you cannot reach even a small goal. Positive thinking has a lot of effects to you and to what you do like it can help you to solve problems, build resilience and improves decision making. However, positive thinking with only itself and no action is not a effective because you also need to give action or else the positivity you have will be worthless. By the way, 8% of total wealth in the world won't give a bad effect because it can be adopted by all the country and if that thing happens, the different currency that is counted to the total wealth in the world will be removed. I just want to do some mathes, if you don't like mathematics, stop reading already...
Currently the total wealth in the world is sitting at $360trillion, cool....
It won't make sense if the total number of BTC that will ever be takes more than 8% of that number, let's do the math already
If 1BTC is worth $1,000,000
Therefore 21,000,000BTC will equal
21,000,000 × 1,000,000 = $21,000,000,000,000
Thats what $21trillion, almost 8% of all the wealth in the world??
Wealth measures the value of all the assets of worth owned by a person, community, company, or country. Wealth is determined by taking the total market value of all physical and intangible assets owned, then subtracting all debts.
So if BTC takes all 8% to itself, what about real estate and all the other sectors??
P.S I didn't do economics anyways, and by the way how do I add pictures on my post??
Bitcoin has gone from nothing to (recently touching) $42,000 in 12 years. I think it’s absolutely possible, probably likely that we see $1,000,000 per coin before 2030. Traditional investments & savings, fiat currencies etc are dying before our eyes. We’re probably going to see the biggest depression & financial crisis the modern world has ever seen due to covid. An institutional tidal wage of investment is coming this year.
Be smart, buy BTC.
HODL!
Be smart, buy BTC.
HODL!
And as I like to remind myself cheekily, that's 0 to 42,000 is literally, an infinite expansion;) But if we take the earlliest transaction of about $30 (2 very expensive pizzas) for 10,000 BTC, then it's a growth of 0.3 cents to $42k -- many millionfold in over ten years.
42k to 1 million is only about 25 times growth.
Of course, our brains and pragmatism say this 25 times growth will be so much harder than $1k to $20k, but math does tend to be blind, if we want to use math for this sort of entertaining speculation.
Well, I do think now that the $1million per Bitcoin is overtly ambitious. At some point people are going to start moving away from Bitcoin because of issues it has continually not been able to resolve till date but we never can tell when that will be. How is it we always get the issue of clog up in transactions every time Bitcoin prices surge? This has persisted and the numerous forks haven't even been able to solve that. Transactions take over 24hrs to get through. Sometimes, it stretches to 72hrs or more. I know some one will argue that it depends on low fees used but this isn't true. What about wallets where there is a fixed fee, yet transactions don't get through as and when due. This is really frustrating, I must tell you. People won't stick to this frustration a long time without seeking better options soon. And when this happens, demand for Bitcoin will drop drastically just like it did after 2017.
Well, this issue happened every time Bitcoin price surges, but the question is, are people already moved away from Bitcoin? I think no because we are still here even though we have been experiencing this for several years now. Besides, there is already a proposed solution to this problem, and that is the LN. Maybe we need to wait for the LN to be fully implemented before putting the conclusion of the transaction issue being unsolved. Development is always in progress thus, the network problem now, may probably just history in the future. The only threat I can see now on fulfilling that 1 million BTC price is the meddling of the authorities.
It's unrealistic for now but one can not predict the future of Bitcoin by some calculation. BTC can reach any heights as I believe it has huge potential but I disagree 1 satoshi equals to $1 value that is beyond expectation.
Therefore 21,000,000BTC will equal
21,000,000 × 1,000,000 = $21,000,000,000,000
Thats what $21trillion, almost 8% of all the wealth in the world??
$ 1 million dollar is a moon price and bitcoin has to rise a lot to reach it. Do you think total asset of all wealth in the world won't increase in the same time?21,000,000 × 1,000,000 = $21,000,000,000,000
Thats what $21trillion, almost 8% of all the wealth in the world??
The ratio of bitcoin marketcap when bitcoin price is $1 million dollars per total wealth in the world will be higher or lower than 8%, at that day.
Wealth distributions change dramatically over decades.
Trends in income and wealth inequality
You will see it realistic or unrealistic after bitcoin makes its highest price for this halving cycle. The market is bullish and we need to see the next bearish market to see how high that price is and compare it to the 2017 all time high. If it can be a 20-fold price for 2017 ATH, history repeats and you can say $ 1 million dollar is realistic after in next 2 halvings.
Well, I do think now that the $1million per Bitcoin is overtly ambitious. At some point people are going to start moving away from Bitcoin because of issues it has continually not been able to resolve till date but we never can tell when that will be. How is it we always get the issue of clog up in transactions every time Bitcoin prices surge? This has persisted and the numerous forks haven't even been able to solve that. Transactions take over 24hrs to get through. Sometimes, it stretches to 72hrs or more. I know some one will argue that it depends on low fees used but this isn't true. What about wallets where there is a fixed fee, yet transactions don't get through as and when due. This is really frustrating, I must tell you. People won't stick to this frustration a long time without seeking better options soon. And when this happens, demand for Bitcoin will drop drastically just like it did after 2017.
Currently the total wealth in the world is sitting at $360trillion, cool....
You have to understand that you're not measuring it objectively, because you can't. There is no unit that measures the value of all these, each one of these can be measured by dollar, but that doesn't mean that it'll remain forever the same. I'm trying to tell you that since dollar is an inflationary currency, these 360 trillion (that I'm not sure they're that many) can be increased in the future. Why? There will be more dollars in the future! If you print katrillions and katrillions, the trillions mean nothing.To answer you, no, I don't find it unrealistic. Not even close, I actually believe that it'll happen pretty soon in this decade. Especially if you observe that we comparing to last year, bitcoin has x10 its value. (lol I don't know how to write that)
Same here, I also find it realistic but it may happen in the far future. All those calculations made by OP are created using the whole supply of Bitcoin but the question is, are all supply of BTC being traded? From that, there is already a huge discrepancy in the result. Not saying that Bitcoin is actually a deflationary currency due to the BTC losses in the span of its history. It may look impossible today, the same way $40k BTC is impossible way back in 2010 when there is no demand even if someone auctioned 10k BTC for only $50.
Currently the total wealth in the world is sitting at $360trillion, cool....
You have to understand that you're not measuring it objectively, because you can't. There is no unit that measures the value of all these, each one of these can be measured by dollar, but that doesn't mean that it'll remain forever the same. I'm trying to tell you that since dollar is an inflationary currency, these 360 trillion (that I'm not sure they're that many) can be increased in the future. Why? There will be more dollars in the future! If you print katrillions and katrillions, the trillions mean nothing.To answer you, no, I don't find it unrealistic. Not even close, I actually believe that it'll happen pretty soon in this decade. Especially if you observe that comparing to last year, bitcoin has x10 its value. (lol I don't know how to write that)
If Bitcoin reach 1 million, then real estate and all other sectors will lost some investors since they're start to invest on Bitcoin. I think most of investment (e.g. stock, precious metal, real estate) will still exist, but the value are dropped since less investors. Bitcoin will be save haven asset (the next gold but a modern form & new technology)
Hmm... I think OP mean to add pictures on his post, not an avatar right? So he can do that (since the requirement is at least Jr.Member)
and by the way how do I add pictures on my post??
You need full member rank for that.
The rough estimation of gold's marketcap is at around 10 trillion USD. 21 trillion USD is pretty much just a bit more than double that. So while I'm not saying that it will happen(because who knows), it's really not overly unrealistic.
Taking into consideration that A LOT of people outside of first world countries like the United States doesn't have easy access to gold CFDs and gold custodial services(to protect themselves from inflation); whereas Bitcoin is multiples of magnitudes far easier accessible to everyone, and taking note that people could actually hold their bitcoin in their own non-custodial wallet and don't need to risk seizure and being censored by custodial services. Bitcoin being far superior vs gold(in the long term) besides the physical uses of gold is what makes me think that Bitcoin could reach far greater heights.
Taking into consideration that A LOT of people outside of first world countries like the United States doesn't have easy access to gold CFDs and gold custodial services(to protect themselves from inflation); whereas Bitcoin is multiples of magnitudes far easier accessible to everyone, and taking note that people could actually hold their bitcoin in their own non-custodial wallet and don't need to risk seizure and being censored by custodial services. Bitcoin being far superior vs gold(in the long term) besides the physical uses of gold is what makes me think that Bitcoin could reach far greater heights.
Hmm... I think OP mean to add pictures on his post, not an avatar right? So he can do that (since the requirement is at least Jr.Member)
Whoops. 
Bitcoin has gone from nothing to (recently touching) $42,000 in 12 years. I think it’s absolutely possible, probably likely that we see $1,000,000 per coin before 2030. Traditional investments & savings, fiat currencies etc are dying before our eyes. We’re probably going to see the biggest depression & financial crisis the modern world has ever seen due to covid. An institutional tidal wage of investment is coming this year.
Be smart, buy BTC.
HODL!
Be smart, buy BTC.
HODL!
I stumbled on a post on this platform about 1 sat being $1, but am gonna do a simple calculation if 1sat was equal $0.01...
I just want to do some mathes, if you don't like mathematics, stop reading already...
Currently the total wealth in the world is sitting at $360trillion, cool....
It won't make sense if the total number of BTC that will ever be takes more than 8% of that number, let's do the math already
If 1BTC is worth $1,000,000
Therefore 21,000,000BTC will equal
21,000,000 × 1,000,000 = $21,000,000,000,000
Thats what $21trillion, almost 8% of all the wealth in the world??
Wealth measures the value of all the assets of worth owned by a person, community, company, or country. Wealth is determined by taking the total market value of all physical and intangible assets owned, then subtracting all debts.
So if BTC takes all 8% to itself, what about real estate and all the other sectors??
P.S I didn't do economics anyways, and by the way how do I add pictures on my post??
I just want to do some mathes, if you don't like mathematics, stop reading already...
Currently the total wealth in the world is sitting at $360trillion, cool....
It won't make sense if the total number of BTC that will ever be takes more than 8% of that number, let's do the math already
If 1BTC is worth $1,000,000
Therefore 21,000,000BTC will equal
21,000,000 × 1,000,000 = $21,000,000,000,000
Thats what $21trillion, almost 8% of all the wealth in the world??
Wealth measures the value of all the assets of worth owned by a person, community, company, or country. Wealth is determined by taking the total market value of all physical and intangible assets owned, then subtracting all debts.
So if BTC takes all 8% to itself, what about real estate and all the other sectors??
P.S I didn't do economics anyways, and by the way how do I add pictures on my post??
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