Topic: Bitcoin Will Hit $1 Million In 5-10 years, What’s your say about this? (Read 2893 times)

My say is this is a wasted thread, wasted bandwidth. David Horton registered in May 2017 (two months ago, at this writing), was plugging an alt giveaway, and then later is asking what's the best faucet to get 1BTC.

The topic attracts newbies, with Hopium. It's clickbait for his sig/banner.

I think this is not rightful thinking. Bitcoin may hit $1m dollars, ok, but is it gonna sit there or be dumped till returning back to $1000? Stability is more important than huge jump.

I guess the prediction is a little exaggerated, bitcoin really surprising that from $5 in less than 8 years now it value at $2500 - $2800 I'd like to believe that it will continue to increase in the next 5 years but to become $1M I think that's too big well everyone is hoping for that to happen that means investors will really benefit in few more years but if the value of bitcoin will range to that amount it will means that the population of users are really that big..for that to happen I think majority of people must use bitcoin as their main currency.

1 Mill wait a second what. Are you even serious out here, think what have you written let's assume it does. Goes past 4k this year, but then again to assume it shall go that high is bit to much in all sense. We shall get a clear target post this year but if all goes good 6 - 8k in two years time I am preety sure, but what you have said is a bit to high.

Of course this is a nonsense and unrealistic prediction, look now, the price is hard to reach $ 3000. But I'm optimistic the price will continue to rise after the hard fork is done.

Average joes are becoming millionaires as we speak. Do you know how many average people are given sums over one million just like that? I've read about people, who found treasures in their houses or digged them up in their backyards. I've read about people winning the lottery and being paid huge money for the ideas they thought of while taking a dump. I've read about people who bought a cheap land rich in oil or natural gas. How is that different from investing in a technology that changes the world?

Tim Draper famously predicted $10,000 bitcoin by 2018. Slowly people are understanding the gravitas of bitcoin.

I think the answer is no, people think that competition is good and all of that but true capitalist want to have a monopoly and be the best in their industries without anyone coming even close, so I don’t think all of those bankers are going to be very happy if an average person can become so rich in such a short time frame.

Okay I am gonna take his words with a big bag of salt but say what if he is right? However such outcome would lead to average joes becoming millionaires and wealthy people becoming multi-trillionaires. Do you think the world order would allow this kind of financial power and independence to run rampant among the common folk? I mean peasants could literally wake up one day as very rich people. Will they allow this to happen though?

I think this exponential thinking is the right approach.

Not "black or white" - replacing. Not fully.

Did you ever heard about "hedging" ?

It can go up because the market it is replacing is USD. You Know-how much if that shit is floating in cyberspace?

Bitcoin has the potential to increase in value over a short period of time looking at its recent statistics but amassing value to the tune of 1M$ in 5-10 years seems to be an over ambitious speculation.

It has got more possibilities, because when more and more the usage, the decreased supply cause a price surge so to reach every user. If that happens even a Satosh will be valuable as a single bitcoin's current price. But in a short of 5-10 years is a hard thing.

No ,according to me the price of bitcoins would not be more than 200000$ by the end of 10 years.Well even if the price of bitcoins goes higher up ,it will take minimum 50 years to reach that amount and the price of commodies will grow even higher.

Yes for me it is possible i think maybe after 5years becoz bitcoin seems to be popular nowadays and soon btc will be known by all the people in this whole world

This is very unrealistic, i saw a thread op was predicting bitcoin's price would be 100k dollar within 10 years and i was like ok this might be happen but it's kind of impossible though and then came this thread predicticting bitcoin price would be 1 million dollars all i can say that it is too impossible, let's be realistic the price would be 3k dollar in this year. However 1 million dollars without any thoughts behind this speculation i think it just a dream.

Usd being worthless is something out of my expectation list, maybe the price might go higher but as far as I concern there is no way that Usd will be worthless. No way to buy things in bitcoin without problems, one of them is transaction delay others takes over a week before getting confirmed, bitcoin maybe considered as better than gold but it can never replace fiat.

It would only have to double about 9 times so very possible. Doubles 1 time each year. plus consider halving.

That is huge! In 5 - 10 years? I am not sure that would be possible. Assuming the value increases by additional $10,000 dollars every year, it will take 10 years to get to about $100,000 at most from a feasible point of view. Anyway, who would have thought bitcoin would hit more than $2000 before mid 2017? At this stage, I am ready for any surprise.

I think it's possible, nobody knows, they can create a crusade against bitcoin and not be worth anything, or they can create the greatest monster in history

It may go to 50 thousand USD maybe in 20 years but we can all only speculate about the price and the fees will be very expensive to move around. On the other hand the USD may be so worthless then that Bitcoin may be high due to the dollar being so worthless. There are many variables to consider.

I am almost certain that Cryptocurrencies as a whole will have a trillion dollar market cap in 10 years.  How much of that will be Bitcoin, I can't say.

I'll say "Thank God I learned about Bitcoin now."

If ever that prediction will come true then we are all lucky for knowing bitcoin today and earned/bought every single bitcoin we can, then it would only take 5-10 years to become extremely rich. Who does not want that, right? Even if you worked hard all year long within 10 years, you will not gain that much. Bitcoin would be a life changer.

Its all about currency / country stability. If Japan goes all in ( JPY is real crap  / monster dept)  , why not all the others like Venezuela, ARG, Brazil, Zimbabwe, .... INDIA !   .... CNY

And biggest dept is in ??

Get the stone to roll, and the USD starts rolling over and trumples down...

I will say:" oh my god mama, I am a millionaire, no I am a billionaire and we would be both billionaire if you did trust me in a few years ago" LOL. However, I do not believe that Bitcoin will hit $1 million in 5-10 years or even 50 years

At this moment everybody wants to feel important and is screaming numbers. Nobody can predict it and i don't think it will hit a million that soon.

Right, anything is possible in this world. your dream may come true in the future, or it will not. but the expectation is high on bitcoin. If any other currency does not replace this bitcoin, then your dream may come true. If any other currency becomes popular, then it is a bit tough to reach your target price.

I say that this thread should be moved in the Speculation Board.

Regarding the topic, a million dollar within that range you specified is hard but possible. I think that you played safe there in specifying a wide range for a speculation, good job. We've seen bitcoin's price to double within weeks and achieving 1 Million withing 10 years is quite possible (if not impossible). All we have to do is wait and hold more bitcoin.

You're crazy, but my kind of crazy.

yes anything is possible in the world now, if it will gonna happen, i will be one of those people who will be joyful because it will be happen, i will keep my money until the value will rise up, it will have a profit on my online wallet even though it was left there. people will get interested more because of the value that the bitcoin has made.

These type of topics always pop up, when Bitcoin goes up and they dry out when Bitcoin soars.

taking on account that bitcoin supply is limited and fiat money is not ...everything is possible... imagine in 20 years US dollar being some sort of Zimbabwe dollar in relation to bitcoin  

A 100k$ would stand a chance about 10$ chance but i guess 1m$ is really ridiculous and not going to happened but if this is going to happened probably about 30years you need to wait this time to have that kind of price value in the market or not enough i guess this is really impossible to happened i guess.

Nonsense.  Bitcoin 24 hour trading volume is no more than 600,000 Bitcoin or so, leaving the remaining 15-16 million Bitcoin either off exchanges, inactive, or inactive on exchanges.

Bitcoin could still be traded if the blockchain stopped in theory, but it would die eventually.  Paradoxically, the main reason that the price could stay up for a while is because people wouldn't be able to transfer their Bitcoin to exchanges and sell - otherwise it would die nearly instantly.

I think someone already post likely this thread as the paypal creator said there bitcoin price will be at that price but they dont even sure how if the bitcoin dies after the day comes for that price? Many people will cry and never comeback with bitcoin they will choosen alternative coins for exchange of bitcoin. I see the continuously uprising of bitcoin so this could be possible on that year.

But the current price IS already that of a derivative (not trustless for the moment ): an exchange IOU.
By far most crypto is only bought and sold on an exchange, never to see the block chain.  I'm pretty sure that at a certain moment, if there are sufficient regulations in place that exchanges are financial institutions like banks etc... and have settling layers between them (not even necessarily "crypto") that one could go on trading coins when all block chains stop.

Bitcoin has done x3 in price without increasing transaction adoption (the blocks are full so they cannot accomodate x3 for the moment).  Many coins have had factors X in appreciation without their blockchain transactions move much.  

The price of crypto is the price of exchange IOU, and the block chains behind it almost don't matter any more.   In fact, a stopped block chain would be the absolute security that an exchange cannot get hacked or cannot run with your coins !  If tomorrow, the bitcoin block chain stops, then all exchanges have their guaranteed "true bitcoin backing" which nobody can steal any more and the risk of them getting hacked or run away with your coins falls to zero.  It would be the ultimate security of exchange IOU.  It would be the ultimate maturity of crypto as a speculative gambling asset.  Maybe this is the market transition we are witnessing.

All I am going to say is anything possible...Especially within this industry

There a some standard market risk calc papers (VaR - model based and probability distribution fitting) , that exactly 'predict' this by respect of the implied volatility  we see.

It is possible  - sure.

This is crazy speculation. First, this is very far future and we can't say for sure what will happen. Also, I beleive that Bitcoin price will go up and that the price wil be realy high but millions of dollars sounds too exaggareted, we have to be realistic. Let's face it, no one will become millionaire over night.

Insane but it will grow but not that big

Bitcoin will become 500 million USD 25th of May 2017.

Not a chance.

my answer is - hell no.

unless there's some sort of trustless derivative or massive scaling no one will be able to get in. it's already impractical to use. i don't believe $1000 fees will appeal to enough people.

Lol, when bitcoin reached $2000, so many crazy predictions appeared. Let's be realistic - it's almost impossible to reach $1 000 000. 1 satoshi never will be equal to 1 dollar.
I think we need to have think about more realistic scenarios like bitcoin price growing step by step in shorter periods. I believe that bitcoin can reach $5000, maybe $10000, but I'm highly doubt that one day it will be worth $100k and you even talk about $1 million. It's sounds unrealistic.

Something to consider, I want you all to think about it deeply.

What do you think happened after the big bang?

I'll tell you what, universe started to expand at extremely high velocity and speeds faster than speed of light, now we're in the middle of the bang and the universe still expanding like the explosion has never stopped.

Though we are unable to see the end of the universe since it's vast, but Bitcoin when started everyone knew the end of it which is 21M coins.

Without any trolling or joking, if only 1 billion of the population shows interest in Bitcoin by doing trades/buy half a coin the price automatically increases by thousands of dollars every hour instead of a few bucks every day.

I know that it seems like a dream and far from reality but 5 years ago if you'd told some one Bitcoin will be traded at $2300 in 2017 and LTC will be $35 no one would've truly risked their money to invest other than people foreseeing the future.

Not because of being optimistic and gullible but because there is a mathematical mechanism designed in such a way to force the market into submission to the demand of holders, so if you are a holder of Bitcoin, without any doubt you have secured your financial future.

I'm not sure if $1,000,000 valued bitcoin's will be realistic in 5-10 but I certainly hope so. Maybe $100,000 is more realistic in that time span.

All i can say is ,its time to buy bitcoins and hodl it 10 years to be exact. Imagine from 2300$ to $1M in 10 years, that would be a lot money,i can now go in any part of the world which is my dream.

Maybe bitcoin will reach 10 000 USD,but 1 million is impossible.
Don`t try to predict the future.There are many threads asking the same question again and again.

I don't know what to say with the time frame you had given. No doubt that bitcoin is possible to hit $1 million per coin.

But that question is when and how long? Maybe after 20 years+ or else it can hit 5 - 6 digit value very soon.

I'm seeing a lot of speculators that tells we are near to reach $5k very soon. It's hard to say $1M per btc at this moment.

One thing is sure: it cannot steadily go there over a long period like 5-10 years.  It would mean all the speculative money out there would see it grow steadily, and not jump the train ?  No.  If it gets there, it gets there FAST.  (and back down after that maybe).

You cannot have an asset that outperforms the market by a huge factor for years and years in a row, with steady certainty.  It has to go in unpredictable bangs.  Do you think hedge funds and so on, who are sitting on huge money to play with, are going to do their best to gain 10-20% or so a year in the classical speculative circuit, when there's an asset out there that has been rising 100% a year, year after year, without touching it, and let them be outperformed by a set of amateurs, year after year, on a sleazy exchange ?

Of course, if you have 10 billion to play with, you cannot play on a chain with only 30 billion market cap, that's for sure.  But what is sure, is that bitcoin, nor any other speculative asset, can steadily and almost predictably rise year after year in a way that makes professional financial speculators look like school kids.

OP - Why do you want to speculate about 10 years? Can you even speculate for 1 year will be great ill it cross 4000$ in another year will be great. Nobody knows its future as many county may ban this since its not approved or governed by any authority. So crash may bring down the rates of it.

But will there be another big crash before the inevitable march upwards?

That is just speculation and this thread fits better in the speculation board of the forum , a sub forum of Economics board here. However answering to your question I say that in 5-10 years the maximum price a bitcoin can reach is no more than 100.000 USD and that is a very optimistic prediction. The normal price I think it will be from 20.000 to 40,000 in price after 5-10 years. I agree with you that the price will continue to climb in the future.

i never like these extreme predictions out of nowhere, specially when they look so random without any thoughts behind them. at least try to explain why you think 1 million dollar is a possibility in 5-10 years in a couple of words!

may be it will happend . even in 1 satoshi worth at 1 dollar i can believe it will happend in next few years . nothing bad , every one will take benefit from it  

Bitcoin price predictions have been increasingly daring in recent months as Bitcoin breaks through one barrier after another - $1,200, $1,600, $1,800 and most recently $2,000.In April, Blockchain CEO Peter Smith joined Snapchat investor Jeremy Liew in saying $500,000 would be the cost per coin by 2030. I con't imaging that where it stop...?

Bitcoin Will Hit $1 Million In 5-10 years, What’s your say about this?