$1 Million in 5-10 Years wow these are some serious numbers, how do we take him serious with his guesstimates!
To be honest I only see this as public motivation to get more investors to show an interest in cryptocurrencies and IMO he is doing a great job in his capacity as CEO of Xapo of preaching the bitcoin gospel.
Topic: [2017-05-24]Bitcoin Will Hit $1 Million in 5-10 Years, Says PayPal Director - page 2. (Read 26687 times)
May 30, 2017, 11:06:37 AM
May 30, 2017, 09:40:12 AM
Even with halving and global adoption, I do not think Bitcoin will reach $1m at the end of one decade. It is quite exaggerated in my opinion because at this point bitcoin only reached $2800 at most. I think $50,000 is way realistic than $1m and it is achievable in a decade from now.
May 29, 2017, 10:54:55 PM
Well, nothing wrong with being too optimistic about Bitcoin as it is really going upwards in value. But the road to that 1 million is paved with bumps and checkpoints along the way. I would be so happy to one day wake up and realized that I already have a million worth of Bitcoin in my wallet...now am also hoping that my wallet provider can be alive ten years from now.
May 29, 2017, 05:42:29 PM
Only a small number of people think exponential. Be one of them.
You are right. Since 2009, 2010, 2011 thinking that way has paid off. $1 million is quite high, but people said the same at $1, $3, $10, $100, $1300, $2790 etc
May 29, 2017, 04:23:48 PM
[...]it still does not give a valid support for 1m Bitcoin for the next 10 years.
But what if your premises are wrong?
In case he's wrong, it will likely not hurt considering he keeps holding at least a small portion of his total stash till that time. Being conservative, or an extreme fantasy filled bull, in some cases it doesn't matter whether you're right or wrong, the main point is that you keep holding your coins for the far long term.
May 29, 2017, 03:15:57 PM
[...]it still does not give a valid support for 1m Bitcoin for the next 10 years.
But what if your premises are wrong?
May 29, 2017, 03:08:42 PM
Only a small number of people think exponential. Be one of them.
I agree it won't harm to think exponential but we must be realistic too. Thinking won't harm but expectation do. No matter how hard I think, I still cannot see Bitcoin reaching 1m in that span of time, even if we account the halving, it still does not give a valid support for 1m Bitcoin for the next 10 years.
May 29, 2017, 02:50:18 PM
Only a small number of people think exponential. Be one of them.
May 29, 2017, 02:49:06 PM
6-7 years ago, is there a someone who predicted the future price of bitcoin? I don't think. Some people may be sensed the potential and made some investment but even them they didn't predict the actual price of today. $1 million is a disputable predict but also be possible the growth of this crypto money industry looks logarithmic.
One example from June 2011 (almost exactly 6 years ago), talking about thousands to 10s of thousands. There were others:
https://bitcointalksearch.org/topic/i-am-pretty-confident-we-are-the-new-wealthy-elite-gentlemen-12156
May 29, 2017, 11:31:25 AM
6-7 years ago, is there a someone who predicted the future price of bitcoin? I don't think. Some people may be sensed the potential and made some investment but even them they didn't predict the actual price of today. $1 million is a disputable predict but also be possible the growth of this crypto money industry looks logarithmic.
May 29, 2017, 11:17:26 AM
I'm a gree with that. 
May 26, 2017, 06:21:51 PM
Now the growth stopped and the fall began. Now not many will say that in the near future the price of bitcoin will rise high. It seems to me that panic began among the newcomers and skeptics.
People are equally as volatile as the price is. If the price is rushing up, people get excited and believe that we'll never ever see sub $2000 prices again. But if the price happens to go down significantly, people miraculously lose all faith and start coming up with all kinds of doom scenarios. That's exactly why you should always follow your own research, and ignore that what others are saying. It was like that years ago, and it's still the case today....
May 26, 2017, 03:05:59 PM
If you want people to take you serious, then at least put some effort into making yourself not look like a clown. It's pointless to speculate about such insanely high prices while we haven't even been close to reaching the $10,000 level yet. If he would say that we would reach $10,000 within 10 years, I would strongly support his statement, but how can I do that with $1 million? Other than that, I do agree with his statement that people should allocate a certain percentage of their wealth to Bitcoin. People have been looking at the price reaching $1300, $1400, $1500, $1600, etc, and started thinking it was too late to invest - look where we stand right now, it's never too late!
I agree with you, $1 Million seems unrealistc, but $10k 5-10 years is quite possible.
But if we let us to indulge in fantasies for a while we can try to imagine what will happen if bitcoin will replace all the money in the world. There are roughly $75 trillion in the world right now. Since it is a very rough estimation say we have 20 million BTC.
75 trillion / 20 million = 3.75 million
So in that case 1 bitcoin will be worth of $3.75 million.
We'll be hitting $5-$10K a LOT sooner than that. Just you wait. Things are only just starting to warm up. HODL on tight, people.
$5K in next 6 weeks... willing to wager 1BTC that I am right.. anyone want to bet against me?
No, I don't want to bet against you because you are probably right. We are over $2,700 already and the rising continues. Maybe we'll see $5k even earlier than in 6 weeks. Some people say it's a bubble which is going to burst soon, but I don't think they are right.
Now the growth stopped and the fall began. Now not many will say that in the near future the price of bitcoin will rise high. It seems to me that panic began among the newcomers and skeptics.
May 25, 2017, 10:57:42 AM
...
Total Gold market is 8 Trillion USD. Is that realistic to you? Not to me. A realistic target should be around 50k$/btc at first, then we talk.
Total Gold market is 8 Trillion USD. Is that realistic to you? Not to me. A realistic target should be around 50k$/btc at first, then we talk.
I think you are right, $50k would have to come first and bitcoin will have to continue to prove itself to get mass adoption.
But, it really depends on the use cases. If use cases continue to expand and markets too, then anything is possible. One huge use case is protecting your wealth from authoritarians who want capital controls or are inflating the value of the currency away - essentially at lot like gold's use cases except that it is also completely portable if you need to leave, e.g., Venezuela, China, Iran, Argentina, etc without having your gold/silver etc confiscated at the border. Or even if you want to stay and just protect your wealth from the ravages of inflation in 3 of those countries.
Obviously bitcoin has many more like remittances, micro-payments (if LN is available), etc, but the digital gold use case alone is a huge.
May 25, 2017, 10:43:58 AM
It is all fun and jokes while everything is going up but I also want to believe those people are not spewing numbers out of their asses randomly.
1million dollars/btc is just too high. Even in 10 years.
Price: $2674,83 Market cap: $43.736.244.299,00
Price: $1.000.000,00 Market cap: $16.351.037.000.108,42
A whooping 16 Trillion USD market cap.
Total Gold market is 8 Trillion USD. Is that realistic to you? Not to me. A realistic target should be around 50k$/btc at first, then we talk.
1million dollars/btc is just too high. Even in 10 years.
Price: $2674,83 Market cap: $43.736.244.299,00
Price: $1.000.000,00 Market cap: $16.351.037.000.108,42
A whooping 16 Trillion USD market cap.
Total Gold market is 8 Trillion USD. Is that realistic to you? Not to me. A realistic target should be around 50k$/btc at first, then we talk.
May 25, 2017, 10:30:03 AM
People like this can talk up Bitcoin's price, adding some momentum. A headline like that make people think that he is talking about Bitcoin's potential in his official capacity as Paypal Director.
May 25, 2017, 08:53:22 AM
If you want people to take you serious, then at least put some effort into making yourself not look like a clown. It's pointless to speculate about such insanely high prices while we haven't even been close to reaching the $10,000 level yet. If he would say that we would reach $10,000 within 10 years, I would strongly support his statement, but how can I do that with $1 million? Other than that, I do agree with his statement that people should allocate a certain percentage of their wealth to Bitcoin. People have been looking at the price reaching $1300, $1400, $1500, $1600, etc, and started thinking it was too late to invest - look where we stand right now, it's never too late!
I agree with you, $1 Million seems unrealistc, but $10k 5-10 years is quite possible.
But if we let us to indulge in fantasies for a while we can try to imagine what will happen if bitcoin will replace all the money in the world. There are roughly $75 trillion in the world right now. Since it is a very rough estimation say we have 20 million BTC.
75 trillion / 20 million = 3.75 million
So in that case 1 bitcoin will be worth of $3.75 million.
We'll be hitting $5-$10K a LOT sooner than that. Just you wait. Things are only just starting to warm up. HODL on tight, people.
$5K in next 6 weeks... willing to wager 1BTC that I am right.. anyone want to bet against me?
No, I don't want to bet against you because you are probably right. We are over $2,700 already and the rising continues. Maybe we'll see $5k even earlier than in 6 weeks. Some people say it's a bubble which is going to burst soon, but I don't think they are right.
May 25, 2017, 06:41:13 AM
$5K in next 6 weeks... willing to wager 1BTC that I am right.. anyone want to bet against me?
I won't bet 1BTC, but I'll bet .01, if you're down
I think you should put more effort into quoting the right person, lol. It's TMAN that has put up the bet, and not me.
See;
$5K in next 6 weeks... willing to wager 1BTC that I am right.. anyone want to bet against me?
Either way, TMAN, if you are so sure of yourself, then buy yourself some extra coins in order to benefit from the eventually doubled price from current levels.
May 25, 2017, 01:50:38 AM
These comments should be serving simultaneously as Wences Cesares' resignation letter to PayPal, because in a world where 1 BTC was worth $1 million, guess how much PayPal will be worth?
May 25, 2017, 12:25:13 AM
$5K in next 6 weeks... willing to wager 1BTC that I am right.. anyone want to bet against me?
I won't bet 1BTC, but I'll bet .01, if you're down
I'll take on that bet. 0.01 BTC. If we hit $5K/BTC within 6 weeks from agreement, I win. If not, you win - winner takes all (0.02 BTC). As you are new, I require this to be escrowed. If you are good with that, send me a PM. We will need to tip the escrow provider, please don't forget that.
Edit: I'm also good with betting up to 0.5 BTC on the same terms. Your choice
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