Could Bitcoin price increase to $1 Million one day?

linkme

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Quote from: Bitcoin Guy on June 29, 2017, 09:40:28 PM

Some said it will. What do you think?

(The estimated 2017 GDP in the US is $19.4 trillions. If the price of a BTC increases to $1M, with 21M in total supply, the market cap would be $21 trillions. Of course, the $19.4T is in present value and the $21T is in an unknown period of future value.)

At least it has chance to reach that price, just looking back when its price was 1$ and did anyone think about Bitcoin if it could reach 100$? That's complicatedd to anser.

BTC_1

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Come on you need to be more realistic. The demand may be high but supply of bitcoin is less, in such a scenario you can't expect the price to $1 Million. Fundamentals are very much important to achieve such a huge price.

heretolearn

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Not at all possible. It is too much expectation. Once government start regularizing and legalize price would start getting down and stagnate. You wouldn't see much movement there on as more and more countries would start accepting it.

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Quote from: jc89 on July 09, 2017, 12:02:08 AM

Quote from: Bitcoin Guy on June 29, 2017, 09:40:28 PM

Some said it will. What do you think?

(The estimated 2017 GDP in the US is $19.4 trillions. If the price of a BTC increases to $1M, with 21M in total supply, the market cap would be $21 trillions. Of course, the $19.4T is in present value and the $21T is in an unknown period of future value.)

It is possible that Bitcoin will reach the 1 million dollar mark but it has a low probability. I believe that it is an exaggeration for the price of Bitcoin, though I want it to reach it, but practically, it will not. There will be more and more people will want to have some drop on Bitcoin. Also, I think that a country's economy will not be able to handle such value for a coin.

Possible since the price got increased for many years past but we never know on when will this be occur since that million of price is pretty huge and if this thing happen I think it could defeat the fiat economy and more adoption will be get by bitcoins, But I wonder if many whales can able to pump that since most provably bitcoins will became expensive and not all of the people can have that easily.

jc89

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Quote from: Bitcoin Guy on June 29, 2017, 09:40:28 PM

Some said it will. What do you think?

(The estimated 2017 GDP in the US is $19.4 trillions. If the price of a BTC increases to $1M, with 21M in total supply, the market cap would be $21 trillions. Of course, the $19.4T is in present value and the $21T is in an unknown period of future value.)

It is possible that Bitcoin will reach the 1 million dollar mark but it has a low probability. I believe that it is an exaggeration for the price of Bitcoin, though I want it to reach it, but practically, it will not. There will be more and more people will want to have some drop on Bitcoin. Also, I think that a country's economy will not be able to handle such value for a coin.

Slark

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Quote from: Bitcoin Guy on July 07, 2017, 06:00:57 PM

Quote from: mrhelpful on July 07, 2017, 03:23:40 PM

The price will hit, but you`ll be dead.

And your future grandkids will be the ones to be spoiled lol.

Actually, this might be the most sensible comment in this thread. If bitcoin won't die then in the future we will see two possibilities: either collapse of dollar sooner or later and at some point bitcoin will reach $1 million.
Or Bitcoin will continue to grow while dollar's purchasing power will degenerate over time, it will be a long and bumpy ride but who knows bitcoin might still hit 1 million in the 21th century.
One is certain, we won't be here to see it, but our children might.

Michhotdog

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Quote from: mrhelpful on July 07, 2017, 03:23:40 PM

The price will hit, but you`ll be dead.

And your future grandkids will be the ones to be spoiled lol.

Is this from exhaustion can such a dream or a dream? It seems to me that this is simply unreal and as my mother says, bad or poor only thoughts can get rich.

Windpower

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Quote from: Bitcoin Guy on June 29, 2017, 09:40:28 PM

Some said it will. What do you think?

(The estimated 2017 GDP in the US is $19.4 trillions. If the price of a BTC increases to $1M, with 21M in total supply, the market cap would be $21 trillions. Of course, the $19.4T is in present value and the $21T is in an unknown period of future value.)

When it comes to this question, there are a lot of if's and but's involved. There is no doubt that Bitcoin has the potential to become something huge, and it already is rising at a rapid pace. However, we have to just let it do what it wants, we really don't have control over what will happen to it. Although, there are some ways that we can spread the word and improve the amount of investors of Bitcoin. But when it comes to the price of Bitcoin rising all the way up to 1 million dollars, there are a lot of things that have to go right and only a couple of things can go wrong. Bitcoin would first need to be mainstream and be widely accepted across the world by many governments and a lot of the big companies out there. After that, we would need to improve the currency so that more people would be able to use it without making the transaction time and cost higher. A lot of work needs to be done before Bitcoin even has the chance to reach such a high amount, and to be honest, I doubt any of us will be around to see it happen. And I doubt that it ever will happen.

Bitcoin Guy

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Quote from: mrhelpful on July 07, 2017, 03:23:40 PM

The price will hit, but you`ll be dead.

And your future grandkids will be the ones to be spoiled lol.

mrhelpful

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The price will hit, but you`ll be dead.

And your future grandkids will be the ones to be spoiled lol.

Bitcoin Guy

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Quote from: giveen on July 07, 2017, 12:52:14 PM

In one day it's surely not possible as of future not possible. Maybe you should check the price charts daily so you can understand more about the price structure and maybe even check different markets as there are really huge sell walls which would require billions to make the price reach 1 mil. It's not impossible but in one day it's too much to achieve.

The question is "would it happen one day" not "would it happen in one day". LOL!

giveen

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In one day it's surely not possible as of future not possible. Maybe you should check the price charts daily so you can understand more about the price structure and maybe even check different markets as there are really huge sell walls which would require billions to make the price reach 1 mil. It's not impossible but in one day it's too much to achieve.

Joshua101101

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This is an unrealistic price increase, but in the world nothing is impossible and if such growth happens, many will be able to very well secure their lives. But I think that the state will be concerned about such a rapid growth of bitcoin.

Amph

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very unlike but not impossible, it just need more exposure and adoption, we are in the correct track to reaching $10k, let's think about that first

then you have the 10k-100k range adn beyond if everything go well, with block issue and regulation but we need another decade at least, 2-3 block halving will help the value to grow

Quote from: TERA on July 03, 2017, 10:52:52 PM

I think the better question is will be total market cap of all digital assets reach $20 trillion.

the main factor is bitcoin and ETH for that other coins does not matter, maybe tezos will be the new added one

el kaka22

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Quote from: ladydark on July 04, 2017, 01:49:08 AM

Quote from: Bitcoin Guy on June 29, 2017, 09:40:28 PM

Some said it will. What do you think?

(The estimated 2017 GDP in the US is $19.4 trillions. If the price of a BTC increases to $1M, with 21M in total supply, the market cap would be $21 trillions. Of course, the $19.4T is in present value and the $21T is in an unknown period of future value.)

It is possible.We could understand that if we had said that one bitcoin would be worth of @2900 in future when its price was just $1,they would have laughed at us saying that its highly impossible.But now that impossibility has become a reality.So,one day when most people know about bitcoins,there would be an ever increasing demand for bitcoins.But there would be no more new supply of bitcoins.So at that time,price of one bitcoin may become even a million.

Yes! Eventually this I going to happen over a long course of time. This obviously seems impossible to even imagine but everybody has witnessed from the past that the btcoin rose from $1 per coin to $3000 per coin. At that time even this goal would have seemed impossible, other than that bitcoin doesn’t even have a competitor, nothing stands in its way to more success so it is completely possible that bitcoin will rise to 1mllion dollars level.

In recent times there is another interesting speculation on bitcoin's future value like reaching one billion dollar levels but I believe that must be too early to go for speculating on that.

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Quote from: cengsuwuei on July 05, 2017, 02:57:37 AM

iam not believe about statement agree bitcoin price can incraese on million dollar
maybe not calculate about sending fee, if bitcoin price is very high, so sending fee is high too, every sending, fee 100k satoshi equal 1000 dollar
is amazing with sending fee, so if sending fee 1000 dollar, bitcoin user still use bitcoin, still sending bitcoin is nothing, bitcoin user can move another coin

This does look very impossible and like a joke. But bitcoin is a digital currency that has a very fast movement, so it really is not impossible. Until now maybe there are still many people who feel dreaming when looking at the current bitcoin prices. Many people do not think bitcoin will be as valuable as it is today.

ZeroTheGreat

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If Bitcoin'll stay around, its purchasing power'll exceed $1 mln 2017', I'd say. It's so useful potentially, beyond comprehension

cengsuwuei

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iam not believe about statement agree bitcoin price can incraese on million dollar
maybe not calculate about sending fee, if bitcoin price is very high, so sending fee is high too, every sending, fee 100k satoshi equal 1000 dollar
is amazing with sending fee, so if sending fee 1000 dollar, bitcoin user still use bitcoin, still sending bitcoin is nothing, bitcoin user can move another coin

machasm

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If/when BTC reaches these heights, we wont be measuring it against the dollar anymore.

Neo: What are you trying to tell me? That I can dodge bullets?
Morpheus: No, Neo. I’m trying to tell you that when you’re ready, you won’t have to.
The Matrix

(I couldn't find the Meme!)

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Quote from: sasaku bitbit on July 04, 2017, 05:36:16 PM

I'm not sure if the price would like to reach the $1 M/bitcoin in one day which means a lot of difficulty is increased to the point where a single coin for mining that you will have to start 1000 ASICs for 1 week to mine it, people like me another coin that costs a lot less to me.
It doesn't make sense for the highest price achieved was not possible due to too high if it reaches $10,000/btc it might happen but 2 years into the future Wink

Some guru's are saying that in time bitcoin could reach this price and it's possible, but will it happen? Probaby not. A lot of forecaster are not aware that there are so many altcoins competing for this place and tat makes this price an utopia.

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