Topic: Bitcoin could realistically be worth $500,000 - page 2. (Read 1265 times)

bitcoin does have the possibility to show unlimited prices. there is no current bitcoin price constraint. so anything could happen including an increase in bitcoin prices up to 500,000 USD. but realistically I may feel this must go through a very long time. currently the bitcoin price is in the range of 4,000USD and it will seem that it takes a lot of things to get beyond that.

If BTC will reach 500k USD, what will be USD worth then?
I guess of countries and financial authorities will start to accept BTC as a payment tool and will recognize it as a viable currency on legislative than highly increased demand can skyrocket the price.. but 500k USD.. i doubt so.

i think it's not realistic to see Bitcoin at that price to be honest,
but i hope everything is possible because we're in cryptoland not in reality,of course if we hit that level we should be happy right ?
the reason why i said it's unrealistic because right now how many people own more than 1% from Bitcoin total supply ?
we can see it if the distribution distributed to everybody fairly,but right now some peoples/groups own more than that.
which mean they can control the market,and $500.000 is not a small money and need a lot of factor to determine it.
what will happen with our economy if 1BTC worth $500.000 ?
at most we will see it around $100.000 or even lower than that,and if that time comes we should value it based on satoshi or mbtc istead of BTC directly

to be honest i couldn't really agree with your reasoning here and i think you are over-explaining it but i can agree with what you are saying here. bitcoin price could realistically be a lot more than this and $500k can just be a start. the thing about bitcoin is that it can be used to 8 decimal places.
this fact has been forgotten because price has been low but at code level it was designed like this. so in other words current price of 1 satoshi is $0.0000425 which is ridiculously low. at $500k, 1 satoshi will be $0.005 which is still small.

Even the bitcoin price didn't reached $5000 and what about $10000,$50000 or even $100000 for a single bitcoin in my wallet? It doesn't make sense. That might no be happened because the fiat should got the big inflation for that.

That's not too much to say, even though it was early to say it does not mean it doesn't have any possibility, bitcoin has been unstoppable since it was created, having a massive improvement with such small fundamental was really something, we cannot expect it this year or the year after but in the future we might see a $500,000 per Bitcoin.

500 000 $ - one number is too large. I have not thought about it

When something increases in value, automatically the concern regarding its security will be a big factor. To overcome these major issues the technology or the innovation is expected to face lots of difficulties in different form starting from government pressure. In reality the growth it has attained at present has given the hope of reaching such a value, but not sure of the lasting.

totally agree with you. The invention must face the difficulties.
if it happens Bitcoin will be difficult to maintain security, hackers will find it

$500,000 is very strange to the market. For this to happen, we should have a serious economic crysis that will make the governments and banking system fail.

Onlt this can make bitcoin $500,000 in a blink of an eye.

Oh I love what insights you are going to prove here mate, but if that's possible to be reached that price capacity I wouldn't wonder sudden bitcoin massive dumping will eventually occur, price might be decreasing very fast due to higher value. Many holders might sell their assets because long term holder can achieve profitable price so they wanted nice and sustainable profit, which can make them millionaire in the future when it became realistically at that price in the history of bitcoin.

That's too much. If that's the worth then probably people are having hard time to sell and if somebody to buy for that amount too. It would be hard for people to make that worth and could it be possibly increasing still? Because 500 thousand dollars is really big to buy if the person mostly depend on twitter or trading site. Of course it will give impact to them not just because of the amount but also the status that they are facing in the economy better if they also have other sources like own business or a job. Lucky if the investor has enough amount or has already have wealth since from the start.

Well OP! Don't mind me but can you be a little bit more precise in your comment. It took me some time to read it and really I felt dizzy at the end.
If such great businessmen have passed certain statements about BTCs then a humble guy like me does not need to speak much. Still, let me, BTCs can be 500k dollars and it's just a matter of time. If we talk about threats, in tech world, every invention faces such troubles.

Looking at the trend for the past few weeks do you think it could realistically go from $4400 to $500K?? That's just obnoxious

Bitcoin has been the top-performing currency in the world in six of the past seven years, climbing from zero to a value of about $1,190.
But the cryptocurrency isn't anywhere close to its potential, according to Jeremy Liew, the first investor in Snapchat , and Blockchain CEO and cofounder Peter Smith. In a presentation sent to Business Insider, the duo laid out their case for why it's reasonable for bitcoin to explode to $500,000 by 2030.

Their argument is based on increased interest in bitcoin, thanks to:

Bitcoin-based remittances

Remittance transfers, or electronic money transfers to foreign countries, have almost doubled over the past 15 years to 0.76% of GDP, data from The World Bank shows.

"Expats sending money home have found in Bitcoin an inexpensive alternative, and we assume that the percentage of Bitcoin-based remittances will sharply increase with greater Bitcoin awareness," the two say.

Uncertainty

Liew and Smith said increased political uncertainty in the UK, US and in developing nations would help elevate the level of interest in bitcoin.

"We believe Bitcoin awareness, high liquidity, ease of transport and continued market outperformance as geopolitical risks mount, will make Bitcoin a strong contender for investment at a consumer and investor level," the two said.

Mobile penetration

Liew and Smith believe the percentage of non-cash transactions will climb from 15% to 30% in the next 10 years as the world becomes more connected through smartphones. There's only a 63% global smartphone penetration and the total number of smartphone users is expected to soar by 1 billion by 2020. GSMA, a trade body that represents the interests of mobile operators worldwide, believes 90% of these users will come from developing countries.

This will make it possible for nearly everyone to have a bank in their pocket, and that should provide a boost for bitcoin as well. Liew and Smith say bitcoin could account for 50% of all of these transactions.

Here are the basic model drivers that Liew and Smith used:

A bitcoin price of $1,000 in 2017.
That network users will grow 61x from now until 2030. "Put another way, we need a population of bitcoin users around a quarter of the Chinese population (or 5% of the global population) in 2030 to see bitcoin at $500k," Liew and Smith told Business Insider. Bitcoin's user network grew from 120,000 users in 2013 to 6.5 million users in 2017, or about 54x, and this could be just the beginning. Growth of that magnitude would produce 400 million users in 2030.
The average value of bitcoin held per user hits $25,000. " As institutional investor cash in Bitcoin, sophisticated investors trading Bitcoin, and Bitcoin-based ETFs proliferate, we think the average Bitcoin value held will increase to around $25k per Bitcoin holder," Liew and Smith said. Currently, with a market cap of $16.4 billion, and 6.5 million user count, the average user holds $2,515 worth of bitcoin.
Bitcoin's 2030 market cap is decided by number of bitcoin holders multiplied by average bitcoin value held.
Bitcoin's 2030 supply will be about 20 million.
Bitcoin's 2030 price and user count total $500,000 and 400 million, respectively. The price is found by taking the $10 trillion market cap and dividing it by the fixed supply of 20 million bitcoin.
It's important to note that a lot could go wrong, too. News surrounding bitcoin has been rather negative as of a late.

China, which is responsible for nearly 100% of trading in bitcoin, has been cracking down on trading. The three biggest exchanges recently announced a 0.2% fee on all transactions, in addition to blocking withdrawals from trading accounts.

Additionally, the US Securities and Exchange Commission rejected two bitcoin exchange-traded funds, and will make a ruling on another one in the future. It's not expected to be approved. However, Smith thinks bitcoin is still in its early stages.

"The SEC's ruling wasn't a surprise to us," he told Business Insider. "We know that getting this sort of approval is going to take (a potentially long) time," Smith said. "In the meantime, bitcoin is already simple to buy and hold a nd, as the asset continues to mature, we'll continue to see an increase in the development and deployment of surrounding products."

Bitcoin
And while bitcoin hasn't been granted regulatory approval here in the US, it is catching on elsewhere. On April 1, the cryptocurrency became a legal payment method in Japan .

Another threat to the future of the cryptocurrency is that developers are threatening to set up a " hard fork ," or alternative marketplace for bitcoin. This would result in the split of bitcoin into b itcoin and bitcoin unlimited. However, Smith says not to worry.

" Bitcoin has strong economic incentives to prevent this," he said. "If the last two years of healthy contention and debate lead to a conclusion, it's that Bitcoin is incredibly resilient and stable. In fact, the bitcoin Blockchain has operated for 7+ years with no downtime, a feat no other back-end system operating at this scale can claim."

Anyone interested in bitcoin should also know that the cryptocurrency sees violent price swings that are uncommon among the more traditional currencies. Bitcoin rallied 20% in the first week of 2017 before crashing 35% on word China was cracking down on trading.

The crypto- ;Dcurrency has regained those losses, and trades up about 25% so far this year.

http://www.businessinsider.in/The-first-investor-in-Snapchat-thinks-bitcoin-could-realistically-be-worth-500000-by-2030/articleshow/58080265.cms