1T market cap seems very feasible and it could happen in a decade.
I'd say we're looking at 5 years maximum. Can you explain why ?
Topic: A recent Wall Street Journal article about $1 Million = 1 BTC possibility! - page 3. (Read 5271 times)
legendary
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April 03, 2014, 09:52:43 AM
Can you explain why ?
April 03, 2014, 09:44:13 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.
Actually in the US there is MUCH more "money" than the $1.27 trillion because banks loan out money, but the "backing" for those loans is based on loaned money, which is also backed by loaned money - and this goes on several levels deep. According to Ron Paul in End The Fed there is probably less than 10% of the "money" in banks is backed up by real US dollars.
I may not be explaining this exactly right. I read End The Fed like 3 years ago.
April 03, 2014, 09:37:46 AM
I'd say you'd have a way better chance at seeing btc at 0 than at 1mil or even 100k... This down trend is getting more and more severe I'm not really sure why you guys think we will be hitting even 1,000 anytime soon.
April 03, 2014, 09:26:16 AM
Articles about BTC possible prices are pretty much meaningless, BTC could reach as high as a million dollar or as low as one based on the buy/sell ratio and general desire to acquire Bitcoins.
Exactly. No one can predict the future prices. Did anyone thought in 2012 that BTC will ever hit $1,000?
April 03, 2014, 09:20:13 AM
Current Doge value is .00000102 BTC, which (if BTC were 1 mil each) would put Doge at $1.02 each. Because I believe in the future, and I'm a nice guy, I'll sell 50k Doge for 25k USD RIGHT NOW. Get a headstart on the future and double your profits. PM me for trade, will use escrow.
made me laugh. You sure are a nice guy.
April 03, 2014, 09:10:36 AM
He may actually be right on his outrageous looking valuation..!!
Anyone who bought $100 worth of bitcoins back in 2009 and held them till today would be sitting on nearly $10 Million worth of assets. Yes, because at that time one bitcoin was worth around half a cent and now same bitcoin is worth around $400.
So far, Bitcoin has proved to be the best investment of this decade.
Anyone who bought $100 worth of bitcoins back in 2009 and held them till today would be sitting on nearly $10 Million worth of assets. Yes, because at that time one bitcoin was worth around half a cent and now same bitcoin is worth around $400.
So far, Bitcoin has proved to be the best investment of this decade.
April 03, 2014, 09:07:14 AM
Articles about BTC possible prices are pretty much meaningless, BTC could reach as high as a million dollar or as low as one based on the buy/sell ratio and general desire to acquire Bitcoins.
April 03, 2014, 09:00:56 AM
Current Doge value is .00000102 BTC, which (if BTC were 1 mil each) would put Doge at $1.02 each. Because I believe in the future, and I'm a nice guy, I'll sell 50k Doge for 25k USD RIGHT NOW. Get a headstart on the future and double your profits. PM me for trade, will use escrow.
April 03, 2014, 08:55:18 AM
Well 1 million is a lot but the price could snowball if Africa and South America start getting into it. I wonder what market cap is needed for the price to be relatively stable. Because even if it achieves stability a lot of stuff can happen.
April 03, 2014, 07:52:21 AM
This guy is on crack.
April 03, 2014, 07:47:03 AM
Not a article to belive as the price of 1 BTC =$1 Million
April 03, 2014, 07:40:48 AM
I personally think, that 1 milion is not real or that far in the future that it doesnt matter.
Real price is 10 000$ per BTC in 2-4 years
Real price is 10 000$ per BTC in 2-4 years
April 03, 2014, 03:34:31 AM
1T market cap seems very feasible and it could happen in a decade.
I'd say we're looking at 5 years maximum. April 03, 2014, 02:11:23 AM
I dont think anybody would pay $1m for 1 btc.
April 03, 2014, 01:23:23 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
April 03, 2014, 01:16:06 AM
April 03, 2014, 12:18:31 AM
I don't see how that could be humanly possible, but could you imagine the thefts that would occur on a daily basis? People would be kidnapped and held ransom for their btc wallets
Keep in mind, by the time Bitcoin hits this price, there will have been years and years of extremely expensive prices for just 1 Bitcoin.
VERY few people will be holding a lot of Bitcoins. Even at today's prices, very few people have the majority of the coins.
By that stage, MANY long time holders will have cashed out, bought things, etc.
The # of people who actually hold large amounts of Bitcoins at that stage will be *so* few, that its really no different than the few people today who are Billionaires.
So I wouldn't worry too much about mass kidnappings and ransoms. The days of $1 million bitcoins will be a very different landscape.
-B-
legendary
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April 03, 2014, 12:10:09 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.
1T market cap seems very feasible and it could happen in a decade.
Yes, that's why 1 btc = $100,000 is more likely compared to 1 btc = $1 Million.
Agreed, but that would still be cool.
April 02, 2014, 11:52:01 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
April 02, 2014, 11:41:18 PM
I don't see how that could be humanly possible, but could you imagine the thefts that would occur on a daily basis? People would be kidnapped and held ransom for their btc wallets
Yeah, that's true, it would almost be like having uhhh.... money.
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