Topic: All these people claiming 1 BTC = 1 million+ (Read 7271 times)

The USD will collapse. Left to the devices of the USG/FED sure, they'll prop it up, inflate it, kick the can as long as possible, wrecking the economy every step of the way.

The thing of it is, however, is that it's not JUST at the discretion of the FED.

Remember the founding principle of bitcoin and virtual currencies being "faith based" no matter that it's backed by math? Joe and Bob *trust* one another per transaction which gives the unit of trade its intrinsic value, right?

Well, the more bitcoin is understood based on what's already happening and widely accepted, the higher the increase in mainstream adoption because more people will be putting their *faith* in the math backed invisible "virtual" currency over and above rectangular sheets of paper and metal coins, as much as the already invisible virtual faith they put into the value of the dollar in all of their online transactions that are also digital virtual.

For now, since it's new, the paradigm is inevitably about cashing out bitcoin for dollars because dollars spend mainstream. This is the single area that is in people's way - the difficulty in escaping the bindings of the USD as the "end result" instead of a bad forced alternative.

But to consider faith in a currency, when people en masse would sooner trust pretend money and just trust the next guy one on one than trust USD currency that should be all you need to know to recognize the writing on the wall for fiat currency issued by governments and private banks. That's like saying Joe would sooner use Monopoly money than USD if Bob accepts Monopoly money in trade for goods and services.

So for now, absolutely, many people will put money into bitcoin and escalate their holdings, then cash out and buy stuff, probably the big stuff like cars and houses and whatnot, to shore up physical security but keep investing in bitcoin to also increase their shore of wealth...which is the ultimate security because eventually it will be mainstream and then the lights will flip on for people that they've got a security blanket and it's perfectly fine to jump off the sinking ship once and for all...and the more people who do that will tank the remaining value of the USD once and for all. It wouldn't wreck the economy though because of adoption and the number of people who are now trading and earning bitcoin.

Governments can ban it all they want but what they can't do is enforce it...once that is understood, people would be more ready to adopt it.

As for purchasing power of the dollar, 10 years ago I bought a bag of Tostitos, a jar of dip, some shirts and a 12pk of cokes and it cost about 30 bucks. I just did that today and it cost me 96 bucks at Target. All the way home I was having the epiphany - I should've just bought into bitcoin!!!

Wow you sound godlike!

The FED won't su.ck in the money because it has never been done and it can't be done

It can raise the interest raise which would be devastating for the economy; it is what it should do now because it will be a necessary clean-up of the system and better than what we will get later; the same way it is better to stop dr.ugs sooner than later it is better to stop QE sooner than later but we will have the withdraw syndroms or Yellen will keep increasing QE as the USD collapse and we will die of an overdose

I most certainly will post a picture of my head and scrotum if necessary. I will even wax my body with steak flavored wax and let my dog rip my hairs from my body to make it more of a true sacrifice.

Is my last sentence a joke??? hell no. I simply stated a few other laws of the universe that will never be proven wrong to help bolster the stature of my foresight and prophetic wisdom.

Consumer prices matters to consumers, and I agree they will set the perceptions of the masses. But you should realise that there is more to the game than the cost of a laptop.


Yes, and I will say the same for myself, maybe I am wrong. It's never good to close ones mind.


The word "dollar" may be, but the dollar used today, in it's pure fiat flavor, was launched in 1971 and is a completely different beast to it's prior asset backed flavor.


The bolded part indicates that you are only considering inflation from a consumers perspective.

You might try asking people who are in business how they feel.

It's impossible to get accurate inflation numbers for the simple reason that we are lied to. Nevermind that people have very different ideas about what inflation even means.

So you want to make a bet? I say that the dollar is not losing more than 3%/year in the next 5 years on average.



Consumer prices is what counts. I am anti-goverment and my invements would be happy if the dollar collapses. But it is 2% maybe. In that area. It is not more at this stage. Maybe, I don't know, I am wrong and it will get more. But the dollar is 200 years old. Even 50 years ago or 100 years ago many people thought the dollar will collapse. In that sense it is way more propable that the dollar will not inflate that by 10% or more in over serveral years. Ok 10% by one year might be possible but then the FED will suck in all the money and the dollar will be fine.

You wanna bet? I take it. I will take the chance that the dollar will only lose 16% (3% per year) in the next 5 years. Wanna bet? (normal inflation statistics.included computers, cellphones etc.)

Dollar parity is way too much. Sell before it crashes! Sell sell sell!

OK.  When bitcoin reaches $100K, you promise to post a picture of your shaved head for proof.  (Is your last sentence a joke?)

1. Oh, I realize that.  I'm just pointing out that it's easy to pooh-pooh huge numbers at the beginning of a technology, but it can easily happen.
2. I realize that there may come a day when so many are using bitcoin that Russia, China and India can no longer ban it.  And if they continue to do so, they will lose to smaller countries around them that accept it and get the manufacturing contracts because they can transfer bitcoins instead of dealing with banking headaches.

Fair point, 2% inflation per year would give only a 7.2x multiply over a century, even that would be problematic unless you think 7x population and/or GDP is tennable, it's not by the way unless we develop off-world colonies.

But alas 2% is somewhat of an illusion, if you look at shadowstats they have done some impecable analysis, I would be interested to hear of any shortfallings you might find in their method.

By their reckoning inflation is wavering around 10% suggesting end-game might come sooner than many think:

Because it didn't happen for a few years and it is kind of holding it cannot happen?

China is not increase its USD reserves, BRIC's and oil countries are beginning not to use the USD and swap or use an other currency to trade and for reserves

You can't increase the money supply of a fiat currency that much with no consequences on its purchasing power, Oil, Gold or bitcoins are not inflating that much and the demand for them will be increasing more than the supply

The States has unsustainable liabilities in the tens of trillions that add up to 200trillions dollars, we are in a huge recession and the banksters and politicians have been buying time but the cost will be extremely expensive; there is no recovery, there is very difficult times aheas; the Dollar will lose most its purchasing power within a short time span such as a decade

I just meant that 1Mio. $ for one BTC is way too much. But if the dollar is inflating 100% for 10 or 20 years it would be no big deal. But I don't think the dollar is in danger. I used to think that for the last few years but there is nothing. The central banks can steer inflation pretty well to the 2% level. The austrians predict a high inflation since decades and since the last 5 years there is extensive money printing and inflation should sky rocket. But there is 2%. In the Euro Zone we have less than 2%, in Spain even a deflation.

You make the statement:

"dollar is inflating to zero value. of course."

Then add the caveat:

"But this is very unlikely."


Do you think accelerating inflation is inevitable?

If so then why say it's very unlikely

Please Clarify.

No it isn't. Even with a 100% reserve and accounting for every single transaction in the world which is today made in the national currency, you would get something like $200 000.
(M1 Euro is 5 trillionen, accounting for 15% of the world economy, so you get 35 trillion in th world. Divided by 21mio. bictoins you get $150 000).
-> But this will never happen.

Except the dollar is inflating to zero value, of cource. But this is very unlikely.

The large problem with this thread is odds are with in 20 years 1 million USD will only buy 1 can of pop can then fail into the abyss of currencies backed by trust of the gov or individual people.

It is not possible for BTC not to be worth 1 million USD... USD has lost value for the past 100 years and will continue to lose value... it seems now though it's about to start to looking for it's actual value.  Do you know how much paper is worth?

Oh okay. You are wrong about everything else so you will probably be wrong about the price too.

Just curious: Have you taken the time to analyse the current state of the fiat dollar?

You think this fiat currency is immune to hyper inflation? Well I suppose it is, that is until it succumbs to it.

Throughout history EVERY fiat attempt has hyper-inflated eventually.

The dollar only went full fiat in 1971, but when it did it was doomed from that point, and those that orchestrated it knew it and expected it, and positioned themselves accordingly such that they would gain the most.

What makes you think dollar is immune?? Do you think the dollar operates in an infinite environment or something?? It is already exhibiting signs that all other fiats exhibited prior to their game overs.

Below we see a lady who finds bill stacks to be cheaper than the equivalent weight of firewood. Do you think she might have predicted this 10 years prior? Maybe she did if she was smart enough.

Hyperinflation is around the corner
We are already seeing a lot of inflation in the sense of increasing money supply and increasing stocks market prices

what you want to him to sacrifice..? may be a sex change operation? but he's safe in my opinion too at least in this life and then he might take birth again when btc reaches 1m$ with opposite sex