Some ppl are underestimating Bitcoin bigtime!
When fiat hits the fan within 5-10 years + mass adoption= will drive the price for 1 BTC above $1.000.000.
Again, plz dont underestimate the power of BTC.
Topic: Do you really believe that Bitcoin will hit 1,000,000 - page 13. (Read 17317 times)
Ok...imagination ON
After certain point in future, when BTC acceptance is spread enough, fiat will start to dissapear as noone will want to use it. It will become exactly what it is now, useless piece of paper that noone wants. Some short time before that point, 1 BTC will be worth 1,000,000 dollars, but it wont stop there, it will continue to slide (value of fiat) that it will become 1000000000 etc. untill it becomes 0 as noone will want ANY fiat whatsoever.
So comapring BTC to $$$ after certain point is useless. Like comparing BTC to dirt. What would you say, how much dirt does 1 btc cost? 1 kilo? 10000 kilo?...it's 0 as noone will sell any BTC for dirt..ther's enough of it around.
If BTC gets to 1m per coin, fiat as we know it will dissapear adn you wont be able to compare those two.
Imagination OFF
After certain point in future, when BTC acceptance is spread enough, fiat will start to dissapear as noone will want to use it. It will become exactly what it is now, useless piece of paper that noone wants. Some short time before that point, 1 BTC will be worth 1,000,000 dollars, but it wont stop there, it will continue to slide (value of fiat) that it will become 1000000000 etc. untill it becomes 0 as noone will want ANY fiat whatsoever.
So comapring BTC to $$$ after certain point is useless. Like comparing BTC to dirt. What would you say, how much dirt does 1 btc cost? 1 kilo? 10000 kilo?...it's 0 as noone will sell any BTC for dirt..ther's enough of it around.
If BTC gets to 1m per coin, fiat as we know it will dissapear adn you wont be able to compare those two.
Imagination OFF
It's possible, if :
1. Huge inflation USD
2. All people accept bitcoin
1. Huge inflation USD
2. All people accept bitcoin
Do you really believe that Bitcoin will hit 1,000,000
analyses never ends
analyses never ends
Not before a period of huge economic growth or hyper-inflation.
Assuming 21 million bitcoin in circulation and a price of one million dollars for one bitcoin then the market cap of Bitcoin would be 21 thousand trillion dollars. As per google the current GDP of the world is ~98 trillion dollars today.
No, it would be 21 trillion dollars because 21 million * 1 million = 21 trillion. Which is what I'd expect to see if Bitcoin replaced the fiat currency of every country in the world. That means no USD. No JPY. No GBP. That is pretty much the best case scenario for Bitcoin and the only way it will ever reach $1 million per coin.
If Bitcoin reached a status similar to gold however, then it would be worth about $333,333 per coin.
NO I don't I do believe it may hit and stay around $25,000 or so because it is being accepted at more and more stores and on line retailers everyday I also think one day that bitcoin will not be the dominant coin either I think one day they will come up with a coin that is much widely except and takes less then 20 seconds to do a transaction with which means that all the ATM's and Credit and Debit machines will except it and it being inflation proof meaning a certain amount of coins and that's it I think that coin will be the one that goes to 150,000 and stayes per coin and if fiat currency go to hell then you may see a crypto coin go to 1,000,000 but that would take a lot like a worst great depression then the last one.
Hi, I believe it, why?
1. 12.889.125 BTC today in circulation.
2. Market cap of 7.924.272.834$
3. Price of Bitcoin is 614.80$
If Market cap will be 1000x than now, price of Bitcoin will be 614.800$
And it is not difficult !
1. 12.889.125 BTC today in circulation.
2. Market cap of 7.924.272.834$
3. Price of Bitcoin is 614.80$
If Market cap will be 1000x than now, price of Bitcoin will be 614.800$
And it is not difficult !
Delusional if anyone think bitcoin will hit 1,000,000.
Why not load up now if anyone think it will be the case?
Why not load up now if anyone think it will be the case?
No, because of market selling assholes, we can't have nice things.
Dumb jerks.
Why would someone do it, it's bad for them!
Glad this round didn't last too long...
Mann, imagine how many bitcoin millionaires bitcoin reaching 1m would create. I would be one....
No, because of market selling assholes, we can't have nice things.
Can you eli5 please? Who is an asshole exactly?
I realistically think bitcoin will hit $2,000 to $10,000 in 5 years; possibly even 30,000 USD per coin.
Speculators and investors need to think of bitcoin as a global currency; not an isolated country or continent's currency. It is a global currency for a global market and the world market is worth several trillion USD. Keywords: Trillion USD Global market.
We are just barely entering the path to a 1T market.
Speculators and investors need to think of bitcoin as a global currency; not an isolated country or continent's currency. It is a global currency for a global market and the world market is worth several trillion USD. Keywords: Trillion USD Global market.
We are just barely entering the path to a 1T market.
No, because of market selling assholes, we can't have nice things.
Right now we are mining about 1,314,000 bitcoins per year. At a $million each, miners would be selling over a $trillion dollars worth of coins per year to cover mining costs. This would exert tremendous down pressure on the price of bitcoin. After two more halvings, say in 2021, mining pressure will drop to a little over a quarter $trillion per year, and by 2025, this would be only $164 billion dollars downward pressure per year if bitcoins were a $million each.
The last time I checked, we spent over $40 billion mining for gold per year. The federal deficit is over a $trillion per year now, and ultimately this must be printed and dilutes the value of the dollar. Also, the remittance market is around $500 billion per year. These are all positive for Bitcoin.
So maybe after 2025, a bitcoin might reach $1 million per year. I think this is reasonable. In the short run though, I expect prices to peak around $100k each before 2020, then slowly work their way up to a $million each.
It is possible that even the majority of us optimists are totally underestimating bitcoin. What if metcalfe's law applies to Bitcoin and it's value is ultimately proportional to the square of the number of unique transactions/addresses used per day? If that is the case, then I predict that Bitcoins market cap will find a maximum below this due to mining costs/rewards. It also means that future generations will be able to expect the value of their bitcoins to at least double every four years. Eventually though, as the mining reward continues to drop, a bitcoin might exceed a $billion dollars in value. Imagine, you could buy a decent meal for less than a satoshi.
The last paragraph that I wrote sounds so bizarre & ludicrous to even me with my vivid imagination, that I strongly suspect something will happen to divert bitcoin from that path. Maybe a more efficient altcoin will take over.
The last time I checked, we spent over $40 billion mining for gold per year. The federal deficit is over a $trillion per year now, and ultimately this must be printed and dilutes the value of the dollar. Also, the remittance market is around $500 billion per year. These are all positive for Bitcoin.
So maybe after 2025, a bitcoin might reach $1 million per year. I think this is reasonable. In the short run though, I expect prices to peak around $100k each before 2020, then slowly work their way up to a $million each.
It is possible that even the majority of us optimists are totally underestimating bitcoin. What if metcalfe's law applies to Bitcoin and it's value is ultimately proportional to the square of the number of unique transactions/addresses used per day? If that is the case, then I predict that Bitcoins market cap will find a maximum below this due to mining costs/rewards. It also means that future generations will be able to expect the value of their bitcoins to at least double every four years. Eventually though, as the mining reward continues to drop, a bitcoin might exceed a $billion dollars in value. Imagine, you could buy a decent meal for less than a satoshi.
The last paragraph that I wrote sounds so bizarre & ludicrous to even me with my vivid imagination, that I strongly suspect something will happen to divert bitcoin from that path. Maybe a more efficient altcoin will take over.
Yes. Perhaps in decades or centuries and hyperinflation doesn't need to occur for it to happen.
Or it goes to zero.
I believe both things are possible and other things in the middle are probable.
Or it goes to zero.
I believe both things are possible and other things in the middle are probable.
The only way that bitcoin could ever reach $1M, would be with hyperinflation of the U.S. dollar, loss of a significant amount of bitcoin, or if Bitcoin replaced national currencies, which seems unlikely. Even overtaking credit card processors, wouldn't put us there, really.
EDIT:
Post 1K...
Didn't even notice.
EDIT:
Post 1K...
Didn't even notice.
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It'll never hit that in our lifetime. It would crash more than likely than doing that.
The only way it will reach anywhere near 1 million dollars is due to hyperinflation.
The price of btc will likely crash several times in our lifetime, as will the prices of most other investments.
Do you really believe that Bitcoin will hit 1,000,000
analyses never ends
analyses never ends
Not before a period of huge economic growth or hyper-inflation.
Assuming 21 million bitcoin in circulation and a price of one million dollars for one bitcoin then the market cap of Bitcoin would be 21 thousand trillion dollars. As per google the current GDP of the world is ~98 trillion dollars today.
It's hard to say exactly when the pendulum will swing the other way. For now, I am in the mid-long term "up up up" camp. But I could easily see the tippity top being in the 5 or 6 figures, and not making it to a million.
So if bitcoin reaches 1,000,000 million, there can be a max number of 21 million of bitcoin millionaires, i dont know how many millionaires are already outhere but its ok.
Being in the IT field and having worked for a credit card processor and many large merchants, I can tell you that the existing system is WAY overdue for a revolution.
Being in the IT field and having worked for a credit card processor and many large merchants, I can tell you that the existing system is WAY overdue for a revolution.
about 14 million
and about 1500 billionaires.
that would be pretty awesome. i present to you the new innovative billionaires
So if bitcoin reaches 1,000,000 million, there can be a max number of 21 million of bitcoin millionaires, i dont know how many millionaires are already outhere but its ok.
Being in the IT field and having worked for a credit card processor and many large merchants, I can tell you that the existing system is WAY overdue for a revolution.
Being in the IT field and having worked for a credit card processor and many large merchants, I can tell you that the existing system is WAY overdue for a revolution.
about 14 million
and about 1500 billionaires.
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