Topic: BItcoin: The path to $10,000,000 ten million dollars per coin - page 9. (Read 3137 times)

titanic was to big to fail.
problem was soo many people thought it was soo big to not fail that they stopped watching out for iceburgs

all im saying is if you want a successful voyage to $10m land.. watch for the iceburgs and stop letting the captain of the ship drive it into other islands of ice saying that full steam ahead is the only way

https://twitter.com/100trillionUSD/status/1201983119387217925

https://beincrypto.com/why-did-satoshi-nakamoto-choose-21m-as-bitcoins-maximum-supply/

https://medium.com/swlh/bitcoin-halving-everything-you-need-to-know-4573dc5b528e

The fed have only two options.

1. Keep printing money,

2. Let the system collapse.

Both are catastrophic.

What is the only solution for a reset? What is the only hedge?

BITCOIN

Bitcoin is the only way out from the problems our current financial system is facing.

https://youtu.be/PwUT6D5mR2o

hope so, when it become too expensive, and money flow in to rich people. investors wouldn't be so interested in bitcoin, but other coins. i think so
it could end up higher price, but 10M is very insane number.

Brushed
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I agree with you I think $100k is a big enough but I always expecting it can reach $250k or even $500k that 10million dollars is just too unrealistic thing to happen however it could be happen if bitcoin is the only cryptocurrency but its not

firstly. if you have been following the LN direction the devs ar trying to push. ud understand the 1000x multiple of sharable units.

as for other stuff...

imagine it this way.
world average life savings is $24k per person
thats $168 trillion
which is ~$8mill a bitcoin
thats if every single persons assets and currency was put in as bitcoin... $8m
again $8m

but not everyone is going to go for the 'one world currency' idea ..
people like diversity, they like choice they like to spread their assets and not have everything locked up in one basket
thus smart investors try to have a 10% spread per asset , meaning if the world was smart $800k

however thats the good side.
there are 200 countries meaning 200 diverse cultures that may not want to b globalised to a single currency. so not only think 10% diversity but 0.5% diversity meaning $40k bitcoin value

we are not in a world of a on currency society. we are not in a world of a one phone society.
even apple doesnt have 7billion phones
infact the google searches of apples '2billion ios devices' does not mean 2billion people have them. it means many people have 3 devices on average (phone, tablet and computer)
so apple even with its big world wide known brand is not a 'single world device'
people like choice and freedom

people want choice and freedom and something to hedge their bets against

this is why i personally dont think the $10m PR campaign holds legs. and what we should instead be doing is making bitcoin (NOT alternate networks cobranding) but making bitcoin useful for the masses so that bitcoin is sustainable and useful

if people just think about it getting to $10m and cash out because bitcoin is not useful.. all that happens is a mass flood back to fiat once people get rich.. leaving bitcoin crashing and not useful

Hope is of course the aim of us, but is it possible? this is also a separate question.
but for me it is too much to be able to determine that much, maybe it can be realistic again even though maybe that is the hope of many people and me too.
It seems that your desire that bitcoin can replace fiat, seems to be difficult to realize because uniting policies between several countries will be a separate obstacle.

Basically that's what most of us are expecting. Reaching the best top value of all times.
Those might be due to same reasons stated on this topic or simply put people become selfaware of the possibilities that it brings to the table.

For their daily lifes it will be a must have to become someone with more currency power then every other human being.
Thus opening more possibilities in the future daily lives if bitcoin will become just 1 currency replacing fiat.

https://youtu.be/ARKcHZ45y_k

There is a extremely low possibility for this


'as for rare/scarce. there are 2.1 quadrillion sharable units. and if devs have their way there will be 2.1 quintillion sharable units'


You can't compare cell phones with bitcoin. You can create a ton of cellphones as much as you can and there is no protocol that could stop you from create MORE.

However, the Bitcoin created in 2009 will be just ONE unique code that only allows everyone to create 21 million.

seems your new to bitcoin and dont know it all yet
bitcoin 2019 is not the same thing as bitcoin 2009

you say it cant b counterfitted and is unique.. sorry but there are as YOU SAY 'about 2000 altcoins'
even the dollar is not unique. there is australian, canadian, zimbabwee, .. loads of dollars.

as for rare/scarce. there are 2.1 quadrillion sharable units. and if devs have their way there will be 2.1 quintillion sharable units

bitcoin was unique 2009-2011. then litecoin and namecoin popped up
bitcoin however retained popularity because
the units were more scarce than litecoin.
the price already had higher valuation and the investment in mining was higher, and people didnt want to lose it
merchants already were advertising 'bitcoin accepted here'

..
however bitcoin does not offer the most transactions per day compared to others anymore
however bitcoin does not offer the lowest transaction cost compared to others anymore
however bitcoin does not offer the diverse development it used to compared to others

merchants are dropping off from their 'bitcoin accepted here'

even developers that were bitcoin heavy have started playing around with altcoins and non-chain networks
bitcoin wont just keep going up in value due to 'to big to fail'.. but bitcoin can go up if BITCOIN UTILITY increases

https://www.instagram.com/p/B5bXeHcgA9T/?igshid=15hwfoegryh2o

Another fudster in the thread.

You cant compare Bitcoins with phones. It is a very stupid analogy.

Bitcoin is unique, rare, scarce (limited in supply), unhackable, sensorship resistance and cannot be conterfeited

Phones cant work as money

There are about 2000 altcoins and none of them have the trust and the capabilities of Bitcoin.

Bitcoin is 11 years old and people still dumping 1 year old "new" shitcoins to buy bitcoin.

If you think that a centralized shitcoin could beat Bitcoin..........well, that is far from happening. Almost impossible.

I achieved my dreams already, so you are not hurting my feelings.

I am very sorry if you are a nocoiner.

1. scaling does not mean 'gigabytes by midnight' (core propaganda) - sincerely, please stop reading from their story book
2. core said 2mb dangerous(core propaganda) then less than a few months later said 4mb is ok
3. yet the 4mb does not translate to 4x potential transaction scaling
4. since 2010, when the 1mb limit had some tests done, scenarios run and thought about its transaction count(7tx/s) limit.. bitcoin has since then
had many things that have made the tx and block relay made to happen faster
had the verification of signatures and blockdata made to happen faster

yet. 9 years later we have not surpassed the potential 600k a day tx count(7tx/s)

yes bitcoin is several times faster than it was 9 years ago but has not ben allowed to have a several times transaction count increase
why?
coz core said bitcoin is not to be used for everyday people. and blockchain is broke and how LN is the saviour

sorry  but id rather have 4mb baseblock that includes signature data combined where all full nodes validate all transactions and where that 4mb has a 28tx/s potential.. rather than the current wishy washy math 'weight' crap which after 2 years still hasnt even broke the 7tx's limit(600k tx a day) for a single day

do you really think its efficient code to have where
a limit of 4mb is fabricated to have ben reached.. but actually is using say 2.1mb of data
   (thus in reality not even using the full limits utility)
a limit of 4mb is not even going to get the community 4x transaction count
a limit of 4mb is not going to allow 4x transactions to make transactions 4x cheaper for all(back to under a penny)
  (core didnt make tx's 4x cheaper. they made legacy tx's 4x expensive then offered 'discount' to pretend it balances out)

would you be happy with a supermarket that offered milk at $1 a bottle. then raised it to $4 and then had a discount offer back to $1 but only for those using its loyalty card
.. be honest

last point
'decentralised'
reality is its a distributed network. as there is most definetely a central reference, a core an centre to the network. they have been literally shouting that out to the community with their branding

learn the difference between decentralised and distributed

and if you really care about your hard drive data
are you really ok with the 1mb->4mb.. but then knowing the 4mb doesnt even = 4x transactions scaling utility

....
anyway.. main topic point
imagine bank notes. one backed by silver one backed by gold
where it costs $20 to exchange a banknote from paper to the base metal
where it costs $0.10 to exchange a banknote from paper to the base metal

would you continually use the bank note with a $20 end cost. or move to a $0.10 end cost
would you continually use the bank note and not care about the base metal and just be happy using the paper
would you even stop using the paper bank note if the end user was no longer able to convert to base metal and stuck just circulating the paper money

truly ask yourself all the questions. not as a core defender but as an open economic system defender

210 million million market capitalisation, and if we believe that let's say conservatively 10% of that is lost forever, then around 190. When you look at it that way, then it's actually not wholly unrealistic. Just only I'd say that the reality you paint is one for a future generation. I would be afraid for those who come after me if Bitcoin reaches that price point in my lifetime.

Then again, it could be $10M dollars isn't worth anything in that reality!

I know what you are feeling and I don't want to be the destroyer of your dreams but here is the reality.

Imagine that Motorola - the first company which manufactured a truly wireless communication device in 1983, designed its production system so that it can produce only 10.000 mobile phones a year. Now, does that mean these phones would have been more scarce every single day because the population is almost required to increase its demand? And would that mean the price of Motorola phones will rise to $10.000.000? No. Why? Because people will simply associate and produce their own wireless communication devices, as these devices are just chips, resistors, transistors, capacitors, inductors, and diodes joined together the right way. And it s not only Motorola that is capable to put electronic components together.

In the same sense, bitcoin is just numbers associated to addresses that are transferred through the network from one address to another via some protocol. And it is not only Satoshi Nakamoto who is capable to design such paying system. This system is not Michelangelo's Pietà or Leonardo da Vinci's Mona Lisa. It is just numbers, addresses, database, and protocols. Everybody is capable to create that. So, no rational reason exists for bitcoin to cost 10.000.000 dollars. There is no reason for people to enter into fast, transparent and cheap payment system for $10,000.000, or even $10, if they can enter it for $0.001(altcoins) or if they can associate and design their own crypto payment system.

Bitcoin is simply a mega-bubble that diminished your ability to think rationally. Bitcoin can only go down to the price of an average coin. Just like Motorola's phones have the price of an average phone.