Topic: 1BTC Reaching 1million Still Unrealistic (Read 568 times)

In those days, it was unrealistic to understand the prospects for bitcoin so we shouldn't blame those people. As for digitalization and the further departure of most of the economy to the digital world, this will undoubtedly strengthen the position of cryptocurrencies, however, governments will try to control this process, which means the transition will not be as easy as we would like.

It is definitely "unrealistic", that is the right word for it. People who think it could happen do not realize that we are not talking about price being 1 million dollars is impossible, it is not impossible, it could very well happen, hell I didn't expected 40k neither but it happened anyway, so this is not about being impossible.

It is about being unrealistic because we are talking about 40k to 1 million dollars which is 25 times higher, that would make bitcoin bigger than gold and nasdaq combined, and let's be honest bitcoin is great and could go up high but bitcoin to be bigger than gold and nasdaq combined is not really something I would expect anytime soon, probably ever. Which means 1 million dollar per bitcoin will not happen anytime soon, maybe in 10+ years it could be realistic, even happen, but not anytime soon because it would be "unrealistic" to expect that.

1million is long away from what is the current price and, we need to understand the fall in between it could happen and years if it takes to recover the drop and bounce back. The current rise which always happens after the halving and will need to see in 2022 how does it grows from there on. The current year still may see above 50k but could it sustain for very long is the big thing which bothers met at time.

Easy to convince people on paper but convincing people not to give in to their greed is a difficult thing to do. If they see an increase, they will see it as an opportunity to sell because they believe that a high price means a crash is imminent, as if they are trying to relive what happened back in 2017-2018. The solution is to have more people to buy, introduce it to a bigger market, have the regressive government lift the ban on cryptocurrency and more people becomes free from buying cryptocurrency which increases the demand which in turn a reason for increase in the prices. 1 million USD per 1 bitcoin is the current dream but I think that we have a lot of things to think of before crossing that 2 comma club.

Those guys who dump their thousands of BTC for a pizza and other cheap things think that bitcoins will not go far at the current rate so I believe everything by now have possibilities especially the one said and if there is a transition to digitalization on economic system for sure bitcoin will get benefited if that scenario happens. I believe many years from now we will go to a revolutionary digital financing system and since bitcoin exist by now this one will be the possible option to be adopted by government so this one could possibly lift up the price unto that figures.

Prices that are far away from the current price have always seemed unrealistic to certain people from the day bitcoin was created. You think people thought $1 was "realistic" back in 2009? Of course not. What do you think about $1 price right now
$1 million is not any different from all the prices that we have passed in the past 12 years and seemed unrealistic before they were reached.
Not to mention that the rate inflation is increasing and with all the money that governments specially the big ones have been printing, $1 million is going to be the start not the end.

Total wealth is already 400 trillion and keeps growing. Right now 21 trillion would be ~5%, in some years it would be even less. It's not outside of realm of possibility of Bitcoin touching this price levels, all you have to do is get people to refuse to sell, then the demand would easily send Bitcoin to the moon just like it's happening now. Bitcoin being stable at 1 million is a whole different thing, we currently only achieved stability at $10,000 so maybe stability at 1 million would really never happen.

You are too pessimistic about what we can see in our lifetime) Progress in all areas is accelerating, plus if we consider that there will be some revolutionary transitions ahead, such as a quantum computer or technological singularity, then we can see in 20 years how the whole world will change completely, and not some individual areas.

You should better read and study more about hyperinflations and you would see that it was not only Zimbabwe that had hyperinflations but also many other countries including Germany, and every single fiat currency that ever existed in the world collapsed at some point, so why would dollar be any different?

Bitcoin is only volatility as you say because printing is out of control and you live in illusion that fiat currencies are stable and you are not looking at prices and cost of living.
I could buy much more things with 100 dollars 10 years ago than now, and I can buy much more things with 100 Bitcoin now then 10 years ago.

We might see inflation but there is no way the major countries will be affected with hyper inflation like Zimbabwe , you need to come up with such policies constantly for us to see hyperinflation and if US is affected then Euro will be used as the global currency.

Historically there will be major power shift but we might not see a power shift in the near future and it is impossible to start calculating your wealth in bitcoin simply because of the volatility.

Dump is inevitable on a market and we cant just see a market that would really continue to rise and this what makes even more harder for to believe on that Bitcoins price will able to hit 1 million.

If we can imagine on how big we do need in terms of adoption or recognition this is something particularly talks about full adoption. Market will be facing up lots of pumps and dumps on suchcase.

I agree on the fact that 1 million prediction is still unrealistic or even it do happen but this would surely not happen in our lifetime but well, who knows? Bitcoin had never failed to impress us
from time to time and lets see on how far we would able to go.

some things can only happen in pair and never alone. for a dump to be there has to be a pump first. you can't expect a dump without it, same as you can't expect the lack of a dump without a pump.

so far all we had was price going up and that doesn't mean "pump" and there is no reason for a "dump" either. we first have to see price go up like in 2017 (that is 100% in 3 weeks) then we can talk about how "dump" is guaranteed!

There is going to be a dump no doubt... but when is the big question, I dont think the big whales will tap out any sooner, I mean am sure they knew what they were jumping into, like they always say when one door is closed another is opened, there will always be new whales cashing in when the old ones tap out

Anything is possible with global hyperinflation and Bitcoin can even be one million if dollar and all other fiat currencies goes wild like we saw in Zimbabwe and other parts of the world.
That would be much different world than we know now and it would be only temporary until some new currencies arise, and we know from history that all fiat currencies will collapse sooner or later.
Maybe we need to start and calculate wealth in Bitcoins instead of dollars.

I don't think you need to waste a lot of energy on this...
no one will know tomorrow how much Bitcoin will cost. If we went back 10 years ago billions of people would not believe 1 Bitcoin would be worth $ 40k. still with the old belief 'nothing is impossible in this world'.

No one did really expect that basing off on value then it can really go into those digits and the entire cap wont really be that too big compared
if we do talk about 1 Million price and imagine on how big it is when it comes to cap which do simply shows that this will be needing that
full-scale adoption which every people would really be using it which we can say that it would really be that impossible to happen.
Adoption is on the move but it wont really be reaching into that point but well, its just also my own opinion though.

I have taken university-level economics courses, and I'll be damned if I could tell you for sure whether it's impossible for bitcoin to reach $X, whatever X is.  With all the money that's now in circulation, I'd say pretty much anything could happen.

It's not just bitcoin that's on fire.  The stock market is and has been soaring for over a decade now, and I have this gut feeling that we're in for a reckoning--a crash or at least a serious correction in a few markets, bitcoin being one of them.  There's been a lot of institutional buying going on, and that's helped to bump bitcoin up to where it is now, but there's no telling when those corporate whales are going to start selling.  Believe me, if they sense danger in bitcoin they'll jump ship with no regard for anyone but themselves.  That could turn out to be a scary situation for anyone holding BTC for the long-term.

I doubt it.  I sure as hell didn't expect bitcoin to be this high this soon.

I think that mostly depends from time frame. we are sure that in 100 200 years the inflations has not already pumped the amount of cash in circulation?
I have seen with Italian Lira ---> Euro. In the earliest of the 90' centuries it was fine get 1000 lire each month (around 50cent of euro nowadays).
Its clear that there is a strong inflation in western countries.
This is why in a "long term" prediction, (obviously if bitcoin "will survive") even 1 million USD I think isn't too much unrealistic.

I am at the same place, I can't believe it is 40k and its definitely something I hoped for in the way way down the future, but not this quickly for sure. In march when the price went down to low levels I wanted to buy, I didn't had money during 4k prices but I had some during 6.5k and I bought it, I was upset that I missed the increase from 4k to 6.5k because that was over 50% profit that I was hoping to get. My idea was that I will sell at around 13k and that would be about 2x profit which I was really hoping for.

Thankfully I never sold so I am doing great now but I can't believe that something I bought at 6.5k and was "hoping" to reach 13k actually went to 40k, that is really not something I would have expected, it was something I really didn't see coming at all. Don't get me wrong I believe bitcoin will be even higher, I just never believed it would be so soon.

But, did anyone really expect $40k accurately? Everyone had their own prediction before but most of them are happy with a 4 digit value.
Hell! I am even happy when it reaches $900 from $300. 
It sounds impossible but it can. But time will tell.
Maybe we won't even see it or maybe yes.
Buying power won't be a problem since you can do it in decimals. Someone will still buy at .001 or even lower.
Then, it becomes addictive when you see growth.

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.

---

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]

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?

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.

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, 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.

$ 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?

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.

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.

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)

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.

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!

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??