Let's concentrate on 1000 first wtf
So if we concentrate we will push price higher? I like this idea.
Topic: A recent Wall Street Journal article about $1 Million = 1 BTC possibility! - page 2. (Read 5271 times)
April 04, 2014, 02:31:01 PM
So if we concentrate we will push price higher? I like this idea.
April 04, 2014, 02:18:32 PM
eventually the banks will come up with their own universal form of payment, its just a matter of time.
And it will be centralized, unlike bitcoin
Decentralization, No interest on lending, No inflation and substantial privacy is the key to the success of Bitcoin. I seriously doubt banks can offer anything even remotely close to it.
World's Banking and Lending system is designed to suck blood out of public's veins.
April 03, 2014, 09:17:30 PM
And you can prove that it's individual people how? You can't.
Well... right now it is the only (semi) accurate analysis available. We have no other options.
legendary
Activity: 1302
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April 03, 2014, 07:53:21 PM
I can't imagine it happening anytime in near future. Let's get realistic. The total value of all $$$ in circulation is only about $1.27 trillion. Even in some extremely unlikely scenario the BTC is able to overtake the USD, even then the value will be much lower than $1 million. Here is why.
Value of 1 BTC = 1.27 trillion / 21 million = $60,476.
Value of 1 BTC = 1.27 trillion / 21 million = $60,476.
I believe you are off by a long shot the total world 'currency' ( USD isnt the total world currency, and bitcoin is a 'global' currency)value is about 77 trillion. making 1 bitcoin well over 1 million usd each.
The USD Cap is in the Trillions. Bitcoin cap, a mere 7billion or so? Bitcoin will never reach 1million, if it does, then that means
1) All fiat currency magically disappeared off Earth
2) You're dreaming
Can you guys please get realistic, Bitcoin hasn't been stable and stayed at 1,000 per coin. It lost more than half it's value again...If it keeps going on this trend, then that means Bitcoin may very well never go above say, 2,000 per Bitcoin..
I'm being more realistic and saying it will reach 100k with market cap around 1t within about a decade.
Yes that is huge growth and I believe it based on bitcoin's merits.
I think in 100 years there will be only crypto or value backed currency, no fiat.
April 03, 2014, 07:21:05 PM
April 03, 2014, 07:15:36 PM
Super Mario Draghi has just decided that buying bonds outright is even better than just money printing 
it is like force feeding money to the market
So, why not $M bitcoins? In 1923's Germany, a loaf of bread was 1 Trillion. It all depends on the money supply you know
Sell EUR scamcoin!
it is like force feeding money to the market
So, why not $M bitcoins? In 1923's Germany, a loaf of bread was 1 Trillion. It all depends on the money supply you know
Sell EUR scamcoin!
April 03, 2014, 05:33:14 PM
Too low
If bitcoin become the currency of the virtual world which make the physical planet its sub-set, then 1 bitcoin might buy you a whole city in the physical world, but of course by that time no one will be interested in that, since in virtual world there are much more interesting things that cost less
By that time, people's monthly consumption in virtual world would be magnitudes higher than the consumption in physical world, and fiat money will be too inflative for those virtual consumptions (you need at least 1 million dollar to buy any thing meaningful in that virtual world)
If bitcoin become the currency of the virtual world which make the physical planet its sub-set, then 1 bitcoin might buy you a whole city in the physical world, but of course by that time no one will be interested in that, since in virtual world there are much more interesting things that cost less
By that time, people's monthly consumption in virtual world would be magnitudes higher than the consumption in physical world, and fiat money will be too inflative for those virtual consumptions (you need at least 1 million dollar to buy any thing meaningful in that virtual world)
April 03, 2014, 10:53:20 AM
47 wallets. not people.
Check the link. It talks about individual users, not wallets.
And you can prove that it's individual people how? You can't.
April 03, 2014, 10:50:57 AM
47 wallets. not people.
Check the link. It talks about individual users, not wallets.
April 03, 2014, 10:47:38 AM
VERY few people will be holding a lot of Bitcoins. Even at today's prices, very few people have the majority of the coins.
I tend to disagree. According to the latest estimates 47 people hold around 30% of all the coins in circulation.
https://bitcointalksearch.org/topic/distribution-of-bitcoin-wealth-by-owner-316297
47 wallets. not people.
April 03, 2014, 10:41:19 AM
Next question: What will $1 million be worth in ten years? 
Even better question!
April 03, 2014, 10:34:26 AM
Next question: What will $1 million be worth in ten years?
April 03, 2014, 10:20:18 AM
Litecoins at 1 million sounds better haha
Litecoin is a copy and that can't be denied, doubt it will even reach half of Bitcoin's value April 03, 2014, 10:14:10 AM
Litecoins at 1 million sounds better haha
April 03, 2014, 10:10:11 AM
You also have to take into consideration the availability of technology to be able to implement it as a worldwide currency... Anyone can have access to dollars because they can hold it in their hand, such as people in Africa. They cant hold bitcoin in their hand, because they need advanced technology, and people in Africa have little to no access to advanced technology as of right now. This is also the case in other LDCs (Less-Developed Countries). One might say it does not matter because LDCs don't really help the world economy, though. Its all a matter of opinion.
You'd be shocked how many cellphones there are in africa
But are they Iphones? or flip phones? And will the people (of Africa) even be exposed to bitcoin? Or will it only be exposed in MDCs?
April 03, 2014, 10:09:42 AM
You also have to take into consideration the availability of technology to be able to implement it as a worldwide currency... Anyone can have access to dollars because they can hold it in their hand, such as people in Africa. They cant hold bitcoin in their hand, because they need advanced technology, and people in Africa have little to no access to advanced technology as of right now. This is also the case in other LDCs (Less-Developed Countries). One might say it does not matter because LDCs don't really help the world economy, though. Its all a matter of opinion.
You'd be shocked how many cellphones there are in africa
let me guess... 7 ?
Is that the number ?
April 03, 2014, 10:08:55 AM
I can't imagine it happening anytime in near future. Let's get realistic. The total value of all $$$ in circulation is only about $1.27 trillion. Even in some extremely unlikely scenario the BTC is able to overtake the USD, even then the value will be much lower than $1 million. Here is why.
Value of 1 BTC = 1.27 trillion / 21 million = $60,476.
Value of 1 BTC = 1.27 trillion / 21 million = $60,476.
I believe you are off by a long shot the total world 'currency' ( USD isnt the total world currency, and bitcoin is a 'global' currency)value is about 77 trillion. making 1 bitcoin well over 1 million usd each.
The USD Cap is in the Trillions. Bitcoin cap, a mere 7billion or so? Bitcoin will never reach 1million, if it does, then that means
1) All fiat currency magically disappeared off Earth
2) You're dreaming
Can you guys please get realistic, Bitcoin hasn't been stable and stayed at 1,000 per coin. It lost more than half it's value again...If it keeps going on this trend, then that means Bitcoin may very well never go above say, 2,000 per Bitcoin..
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
April 03, 2014, 10:06:36 AM
You also have to take into consideration the availability of technology to be able to implement it as a worldwide currency... Anyone can have access to dollars because they can hold it in their hand, such as people in Africa. They cant hold bitcoin in their hand, because they need advanced technology, and people in Africa have little to no access to advanced technology as of right now. This is also the case in other LDCs (Less-Developed Countries). One might say it does not matter because LDCs don't really help the world economy, though. Its all a matter of opinion.
You'd be shocked how many cellphones there are in africa
April 03, 2014, 10:03:47 AM
You also have to take into consideration the availability of technology to be able to implement it as a worldwide currency... Anyone can have access to dollars because they can hold it in their hand, such as people in Africa. They cant hold bitcoin in their hand, because they need advanced technology, and people in Africa have little to no access to advanced technology as of right now. This is also the case in other LDCs (Less-Developed Countries). One might say it does not matter because LDCs don't really help the world economy, though. Its all a matter of opinion.
April 03, 2014, 09:59:28 AM
$1 million x 12 million BTC = $12 trillion market capitalization? 
It's maybe possible that digital currencies could be worth $1 trillion in the far distant future but I see that being split between a dozen or so coins.
It's maybe possible that digital currencies could be worth $1 trillion in the far distant future but I see that being split between a dozen or so coins.
wow i really thought 1mil/btc was impossible but with that total market cap its very possible, time to start saving.
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