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Topic: Bitcoin Could Exceed $1 Million in 7 -10 Years: PayPal Director (Read 532 times)

legendary
Activity: 2884
Merit: 1117
In principle, I agree with Xapo and his assumption that Bitcoin can cost more than 1 million dollars and he is not the only one who thinks that it is quite possible. But if this happens, then definitely not in the next few years, because such growth requires much more time.
There are so many factors that would work against this, government, banks, dumping etc, except there are no more BTC supplies in the market, that value is quite not real to me for BTC to achieve, and Bitcoin does not even have to get to that value to be known for its performance.

If bitcoin decides to remain on this value, I would still be satisfied because the benefits of having it as a payment means outweighs benefit of using it as investment, many of us are always targeting this unrealistic value because of our investment, in 7 years’ time, the only value I feel is realistic is maximum of $200,000.
member
Activity: 364
Merit: 10
In principle, I agree with Xapo and his assumption that Bitcoin can cost more than 1 million dollars and he is not the only one who thinks that it is quite possible. But if this happens, then definitely not in the next few years, because such growth requires much more time.
full member
Activity: 532
Merit: 187
Imagens bitcoins go to $1 million, and then bitcoins have a bloody red week where it drops 20% we have seen that before, but here you would have lost $200.000 for each bitcoins you own in just one week.
Will, you still be holding  bitcoins when we get near 1m and who will be buying when we get near one million?

Personally I think we will get to a million one day and hopefully, the price will be more stable than it is now.
member
Activity: 525
Merit: 10
Bitcoin surged to $ 1 million for the next 7-10 years, I find it hard to believe because the price of $ 1 million is too high for one bitcoin.
legendary
Activity: 1288
Merit: 1036
In terms of varied features there were more altcoins that are better than bitcoin as stated in the above quote. In terms of liquidity bitcoin takes the lead, and this makes bitcoin to be the much used one than many other cryptocurrencies with advancements. Already there are few coins created by banks were getting used for transaction within country and bitcoin for cross border transactions.
It is not that I am being biased in my judgment or because of the interest I have in BTC, I also have some good altcoins I have invested my money and time in but none of them has been able to meet up to the standard of Bitcoin, those altcoins are just being over hyped and there is nothing absolutely new they have added to the system, other than using it as means of raising funds for their project.

Before the invention of BTC, if they were so good, why did they not come up with an idea and they had to hide under the shadow of Bitcoin, let us leave matter where it is and be sincere to ourselves, few of these altcoins are the ones with real products, many of them are just shadows of themselves.
sr. member
Activity: 2044
Merit: 314
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“In my (subjective) opinion those chances of succeeding are at least 50%. If Bitcoin does succeed, 1 Bitcoin may be worth more than $1 million in 7 to 10 years. That is 250 times what it is worth today (at the time of writing the price of Bitcoin is ~ $4,000),”- Xapo CEO Wences Casares

News Courtesy - https://www.ccn.com/one-bitcoin-could-exceed-1-million-in-7-10-years-paypal-director

If this thing is true, then what would be the next basis of rich people because for sure everyone will have their first million easily. This is too good to be true, i know bitcoin is a huge success but the million price will not happen in the next 10years, Paypal might too exaggerated for this prediction.
legendary
Activity: 3038
Merit: 1169
Exceeding $1 Million will be possible given a time span and I think bitcoin will sure need a lot of it in the future before it can make a possible $1 million dollar and in 7-10 years might be enough to get that pace and considering the bear markets, bubble, and Dips it takes there is still Bull market, To the Moon and Skyrocket up with the price that many Holders are waiting so much, But if the price of bitcoin would consider being at a million of price many will take a hard time earning, or entering with that kind of value, But I guess that will be a regret for those not holding anymore on that given time, But the possibilities are there and learning to wait is sure is rewarding with this kind of Currency.
hero member
Activity: 2310
Merit: 532
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“In my (subjective) opinion ”- Xapo CEO Wences Casares

Speaking for Xapo mostly, I'm sure the remaining board of directors are seeing PayPal performing the most daily payments in near future.

Conquering PayPal requires throughput, requires mass markets. Bitcoin should focus on it's Achilles' heel and there are many. Cross border payments to mention. Financial privacy, of course.

I think bitcoin is already closing some gaps. I wouldn't call it Achille's heel though, there are lots of crypto that is faster than bitcoin if we are going to compare them, however, is the most trusted so regardless if there is some issues with fees or the speed more people will still used bitcoin for cross border payments.
In terms of varied features there were more altcoins that are better than bitcoin as stated in the above quote. In terms of liquidity bitcoin takes the lead, and this makes bitcoin to be the much used one than many other cryptocurrencies with advancements. Already there are few coins created by banks were getting used for transaction within country and bitcoin for cross border transactions.
hero member
Activity: 2660
Merit: 551
“In my (subjective) opinion ”- Xapo CEO Wences Casares

Speaking for Xapo mostly, I'm sure the remaining board of directors are seeing PayPal performing the most daily payments in near future.

Conquering PayPal requires throughput, requires mass markets. Bitcoin should focus on it's Achilles' heel and there are many. Cross border payments to mention. Financial privacy, of course.

I think bitcoin is already closing some gaps. I wouldn't call it Achille's heel though, there are lots of crypto that is faster than bitcoin if we are going to compare them, however, is the most trusted so regardless if there is some issues with fees or the speed more people will still used bitcoin for cross border payments.
legendary
Activity: 2380
Merit: 1085
Money often costs too much.
“In my (subjective) opinion ”- Xapo CEO Wences Casares

Speaking for Xapo mostly, I'm sure the remaining board of directors are seeing PayPal performing the most daily payments in near future.

Conquering PayPal requires throughput, requires mass markets. Bitcoin should focus on it's Achilles' heel and there are many. Cross border payments to mention. Financial privacy, of course.
hero member
Activity: 2646
Merit: 686
The targeted year is not enough for Bitcoin to reach $1 Million IMO but if it is 20 -30 years i might agree with his predictions since $1 Million is too much. I just wondered how could they do their prediction that they could just say something out of the blue. Even if he is the PayPal Director or the CEO of a multi-billionaire business or whatever it is, this doesn't mean that their prediction might come true. No one could actually tell what would be the future so, i don't take much of that prediction, i'd rather focus myself on what is in the present.

Hey I’ll agree with you it’s difficult if not impossible for bitcoin prices to reach those levels as stated by him. I have normally observed whenever bitcoin prices are rising such speculative statements are made, and then they fade away when it starts to fall. Also I have always advised never to buy bitcoins based on such speculative statements one should buy only if he believes in the technology, and can hodl it for the long term.
legendary
Activity: 1806
Merit: 1521
The targeted year is not enough for Bitcoin to reach $1 Million IMO but if it is 20 -30 years i might agree with his predictions since $1 Million is too much.

it's an impossible prediction

I'm sure in 2009 that $20,000 seemed impossible too. The kind of growth we've seen in the past, in % growth terms, is much greater than a rise to $1 million from here. Going from $.01 to $20K makes a $1 million look like a piece of cake!

The 2020s sounds perfectly reasonable to me. I think reaching the millions USD is very possible in the next bubble, assuming the global economy doesn't go down in flames first. It depends if we're limited to log growth or go vertical in S-curve fashion.
legendary
Activity: 3472
Merit: 10611
the price is $5500, and we're talking about reaching 1 million dollars? What would the market cap be like? I like bitcoin and I am very happy whenever the price increases, but there are predictions that are very exaggerated, 1 million dollars is something impossible to be reached, even if 50 years passed, I do not believe we will reach 1 million dollars. it's an impossible prediction

who cares about market cap? bitcoin is not a company to have a market capitalization, it is a currency and market cap is not even defined for currencies. so when you calculate something by multiplying two values you are coming up with a number that you choose to call market cap...
it is ok to not think $1 million is possible but you shouldn't think that way just because some arbitrary value (market cap) seems like a big number!
legendary
Activity: 3164
Merit: 1127
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Yes, bitcoin could definitely exceed $1 Million...

the price is $5500, and we're talking about reaching 1 million dollars? What would the market cap be like? I like bitcoin and I am very happy whenever the price increases, but there are predictions that are very exaggerated, 1 million dollars is something impossible to be reached, even if 50 years passed, I do not believe we will reach 1 million dollars. it's an impossible prediction

The targeted year is not enough for Bitcoin to reach $1 Million IMO but if it is 20 -30 years i might agree with his predictions since $1 Million is too much.

it's an impossible prediction
legendary
Activity: 1204
Merit: 1028
But it was hard to imagine that the price would ever rise above $1000 when I started to invest in Bitcoin and today the price is way above that. Therefore I know, much is possible in crypto area, even such a high price in the future, but that's not all I'd count on.  Wink

Imagine how that was for people who bought their first coins in 2010/2011. If you told them that Bitcoin would reach $1000 in 3 years, they would probably burst out laughing because it's so hard for people to fathom how something that's worth a few bucks can be worth that much.

I actually had a similar experience with a close internet buddy of mine who is an Ethereum fanboy. He kept repeating that its price would explode well beyond $100 when it was still below $10, which I (with my Bitcoin maximalist cap on) thought wasn't possible because everything at that point for me was a shitcoin and worth zero.

I am sure that he actually believed in Ethereum but was just speculating about its price, but still, he was right and I was wrong. I never ever again will underestimate any coin in terms of price action.
Hmm, that is really a true talk, from 2010 till date, apart from the bull  which was not a natural move, as a result of adoption, bitcoin has been about to grow about 5000x and if not more than, and the adoption rate is still very low.

Let us now imagine another 10 years of Bitcoin more, with the adoption that keeps increasing on a daily basis, then there is no doubt that this Bitcoin will surely hit $1000000 in 10 years’ time. Well, let me not be too excited yet, we will all see this in 10 years’ time.

This is why my present BTC investment is tied to a 10 years plan. I am still trading with my investment, but the profit is what I take, while may capital still remains.
sr. member
Activity: 2506
Merit: 368
The targeted year is not enough for Bitcoin to reach $1 Million IMO but if it is 20 -30 years i might agree with his predictions since $1 Million is too much. I just wondered how could they do their prediction that they could just say something out of the blue. Even if he is the PayPal Director or the CEO of a multi-billionaire business or whatever it is, this doesn't mean that their prediction might come true. No one could actually tell what would be the future so, i don't take much of that prediction, i'd rather focus myself on what is in the present.
legendary
Activity: 1988
Merit: 1768
But it was hard to imagine that the price would ever rise above $1000 when I started to invest in Bitcoin and today the price is way above that. Therefore I know, much is possible in crypto area, even such a high price in the future, but that's not all I'd count on.  Wink

Imagine how that was for people who bought their first coins in 2010/2011. If you told them that Bitcoin would reach $1000 in 3 years, they would probably burst out laughing because it's so hard for people to fathom how something that's worth a few bucks can be worth that much.

I actually had a similar experience with a close internet buddy of mine who is an Ethereum fanboy. He kept repeating that its price would explode well beyond $100 when it was still below $10, which I (with my Bitcoin maximalist cap on) thought wasn't possible because everything at that point for me was a shitcoin and worth zero.

I am sure that he actually believed in Ethereum but was just speculating about its price, but still, he was right and I was wrong. I never ever again will underestimate any coin in terms of price action.

Yes, in 2011/2012 many people even laughed when I said that the price can rise above 100$ or even to 1000$. Many regret today that they laughed about it and wish they had bought at least for some bucks Bitcoins as the price was not even 10$.
I also underestimated Ethereum. I didn't expect such a price increase. Besides I had lost most of my eth coins on the shit exchange crypsy and never bought it back cheaply (also with my Bitcoin maximalist cap on  Tongue). In this way I also learned that altcoins should not be underestimated.  Cheesy



But it was hard to imagine that the price would ever rise above $1000 when I started to invest in Bitcoin and today the price is way above that. Therefore I know, much is possible in crypto area, even such a high price in the future, but that's not all I'd count on.  Wink

Imagine how that was for people who bought their first coins in 2010/2011. If you told them that Bitcoin would reach $1000 in 3 years, they would probably burst out laughing because it's so hard for people to fathom how something that's worth a few bucks can be worth that much.

I actually had a similar experience with a close internet buddy of mine who is an Ethereum fanboy. He kept repeating that its price would explode well beyond $100 when it was still below $10, which I (with my Bitcoin maximalist cap on) thought wasn't possible because everything at that point for me was a shitcoin and worth zero.

I am sure that he actually believed in Ethereum but was just speculating about its price, but still, he was right and I was wrong. I never ever again will underestimate any coin in terms of price action.

That happens to the Bitcoin purists since they have a kind of love for BTC, they see BTC and nothing else. Then, as the saying goes, "only fools don't change" (But you're still a bit of a traitor Cheesy) There are some altcoins that are good and can be complementary for Bitcoin. If Bitcoin is the king, it needs its queen too

You're absolutely right about that. Every king needs a queen. It's really stupid I didn't think of that at the time.  Cheesy Roll Eyes
legendary
Activity: 1473
Merit: 1086
I believe in what the director of PayPal said, though I think it's going to happen in a lesser time, let's say 5 years time, because we have begin to see inflation happen in so many countries of the world and this countries have already started looking for alternatives to grow their economy and the only saving grace would be crypto, this is why Russia is buying so much crypto as of today and other government of the world.

In my opinion it doesn't mean much, and I think it play a minimal role, which none, to anything. I'm pretty sure we will go above 6,000 USD - We have just has an accumulation phase - we haven't had any selling pressure even though the big spike.

We have the whales who clearly want us to go to 6,000 USD and above due to the huge liquidity pool, where they have the opportunity to stop hunt and squeeze, and make become richer. Also the fact, that BTC will geta comeback in the media, which will attract retail investors, who have bought the top (5th wave).

Hereafter we will go below 6k again after we have been crusing around 6k for a while.
full member
Activity: 1092
Merit: 117
Yes, bitcoin could definitely exceed $1 Million but in the same time it could also go down to $1 so this are all speculation based on no real facts or reasons. In order for bitcoin to reach that price a huge mass adoption should be made and right now it doesn't seem like that's going to happen in the next 10 years.
hero member
Activity: 952
Merit: 516
7-10 years is still not enough time for something that big, I mean if the question was "will bitcoin ever reach one million dollars?" I would probably say yes, since there is no time period or limit we can totally just wait for another 100 years and I do not think anyone would doubt bitcoin will be over 1 million dollars in 100 years.

So, it all depends on timing, we all know it will reach a million dollars for sure but I just doubt 10 years is enough, maybe if he said 25 years I would have agreed because that is plenty of time to go to million dollars but 10 years feels like it won't be enough, maybe 500k in 10 years could be more possible honestly, even that is a challenge and depends on the world economy as well, if there is a collapse and price skyrockets couple times than its doable but if world economy gets better than bitcoin will lose its worth.

I don't know, I'm really confident about the whole market and I'm sure we will reach 1t+ marketcap in total, however why are you so sure about bitcoin? To me it seems quite possible that another coin will overtake bitcoin, in fact right now bitcoin is only surviving because it has the most pairs but it will be outdated imo. New cryptos and technology used is happening every day, it wont take long until a really big breakthrough happens and kills bitcoin and classic cryptos or perhaps big companies start launching their own coins and people start using them and bitcoin and others start to fall.
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