Do you think that bitcoin could hit 10 million ever?

Oilacris

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Quote from: JahriMeayer on February 18, 2021, 02:12:16 PM

Can you imgaine the market cap when lots of bitcoin used to buy for a pizza! Now see the market cap, and will get the answer! Upcoming days will be more digital and advance. everything will be online & buy sell will have done though virtual payment system.bitcoin will be one of those virtual payment method in future.even big companies like telsa already accept bitcoin as their payment method.although $200T is very big thing but hope $1T would possible oneday

Just dont try to put aside that digital banking or online payments had been here for a while now via fiat and in case we do go full digital then fiat would still remain and
bitcoin wont really become the mainstream when it comes to payment system.

Its really hard to presume out that for bitcoin to hit $1M in price where we do even had a hard time on reaching $50k, even this market is still young but doesnt
mean that it will really be going into those peaks.

Dont anticipate or expect too much because this would be something stressful.

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Can you imgaine the market cap when lots of bitcoin used to buy for a pizza! Now see the market cap, and will get the answer! Upcoming days will be more digital and advance. everything will be online & buy sell will have done though virtual payment system.bitcoin will be one of those virtual payment method in future.even big companies like telsa already accept bitcoin as their payment method.although $200T is very big thing but hope $1T would possible oneday

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Quote from: fadhilz123 on February 13, 2021, 06:15:23 PM

Quote from: TheBitcoineers on January 13, 2021, 11:37:10 AM

Do you think that bitcoin could have a market cap of around 200 trillion? Is it feasible?

Go check this thread https://bitcointalksearch.org/topic/owning-one-btc-in-2035-will-make-you-a-millionaire-5316474. I think your question is relevant with that

$200 Triilion? It will so difficult but I believe that Bitcoin can, but how long you must wait? 20Years??. Maybe another question what is your preparation if Bitcoin reaches it?

That number will be impossible for bitcoin to reach if things somehow become stable, as I have said not even the whole world economy is worth so much, so at least at the moment and probably during the short term bitcoin is going to be incapable of reaching that number, however it seems to me that governments are losing control of the economy which is why they are printing so much money and if that is the case we may reach a scenario in which bitcoin becomes that valuable simply because governments cannot stop printing money.

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Quote from: TheBitcoineers on January 13, 2021, 11:37:10 AM

Do you think that bitcoin could have a market cap of around 200 trillion? Is it feasible?

Go check this thread https://bitcointalksearch.org/topic/owning-one-btc-in-2035-will-make-you-a-millionaire-5316474. I think your question is relevant with that

$200 Triilion? It will so difficult but I believe that Bitcoin can, but how long you must wait? 20Years??. Maybe another question what is your preparation if Bitcoin reaches it?

Quote from: milewilda on February 12, 2021, 02:43:00 PM

Try to be realistic on here. Check on whats the daily volume that you can see in forex? Basing on answers here: https://www.quora.com/Whats-the-total-cap-size-of-Forex
It do able to have that $4-7 Trillion in terms of liquidity or daily volume.So imagine on what are the numbers when it comes to capitalization which is unknown or immeasurable
and since you do talk about 200 trillion here then it is just simply talking that bitcoin is already on the top of the chain which is way more than with fiat.
Does it sound possible? No its not.

Bitcoin is different from Forex, yeah Forex can't do it but I'm sure that Bitcoin can

Your link is answered 3 years ago. you should put a fresh link

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Quote from: TheBitcoineers on January 13, 2021, 11:37:10 AM

Do you think that bitcoin could have a market cap of around 200 trillion? Is it feasible?

This is feasible, calculating with the world population if they venture into this cryptocurrency then we might see something very close to 200 Trillion or even above the said figure as marketcap. Am sensing that in future the Bitcoin market cap will supersede this amount you just mentioned becasue of the world population.

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Quote from: TheBitcoineers on January 13, 2021, 11:37:10 AM

Do you think that bitcoin could have a market cap of around 200 trillion? Is it feasible?

Try to be realistic on here. Check on whats the daily volume that you can see in forex? Basing on answers here: https://www.quora.com/Whats-the-total-cap-size-of-Forex
It do able to have that $4-7 Trillion in terms of liquidity or daily volume.So imagine on what are the numbers when it comes to capitalization which is unknown or immeasurable
and since you do talk about 200 trillion here then it is just simply talking that bitcoin is already on the top of the chain which is way more than with fiat.
Does it sound possible? No its not.

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Quote from: beerlover on February 07, 2021, 02:25:25 PM

Quote from: Silberman on February 06, 2021, 10:49:51 AM

Quote from: ene1980 on February 01, 2021, 12:41:32 PM

There is another feasibility if the valuation of US dollar goes down due to inflation like Zimbabwe national currency where 100 trillion is just below a dollar Tongue

. If you are assuming these valuation what is the transaction charges you will be paying. I will gladly book my profit and move away from bitcoin as i am not here in the market to pay higher transaction charges which does not make any sense Tongue

.

That is probably the only way in which this could happen during the next decade, after all like I said above not even the whole economy is so big, however it seems the scenario in which we see hyperinflation is slowly becoming true, yesterday the US approved a package of 1.9 trillion dollars and I can guarantee you all of that money is going to be printed, and most likely this is the reason the price of bitcoin went above 40k once again as it is impossible to sustain the economy when the government keeps printing so much money.

I doubt that US dollar could ever be like Zimbabwe, but we are seeing the troubles of USA not being financially smart in the past 5 years or so, it started with Trump and Biden is putting on top of it as well, they are giving money to very wealthy that keeps losing it, and I have to say not like they are losing it to someone else, they are literally losing it as a whole, which makes dollar more valuable by logic like a coin burning, but since it is in the market now, it is on the statistics but it is not in people's hands so it makes things more expensive while there is no money to actually back it up so it makes life harder and harder.

Poor people there are getting poorer and poorer, regular life became a lot harder to handle, and it is really destroying the whole nation. Long story short, it won't be like Zimbabwe, but it certainly becomes worse and worse, I probably won't see 10 million dollar bitcoin in my life time, but it will 100% happen in the future if dollar continues like this.

This began way before that, the last economically responsible president the US had is probably Bill Clinton, since then every single president has taken decisions that have increased the money supply of the US to unprecedented levels and most likely this is going to continue for the next four years, politicians do not really care, most of their money is probably invested in hard assets that if anything are going up thanks to all the money they are printing, and about Zimbabwe never say never, because to me that is a real the scenario that could happen.

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Quote from: Silberman on February 06, 2021, 10:49:51 AM

Quote from: ene1980 on February 01, 2021, 12:41:32 PM

There is another feasibility if the valuation of US dollar goes down due to inflation like Zimbabwe national currency where 100 trillion is just below a dollar Tongue

. If you are assuming these valuation what is the transaction charges you will be paying. I will gladly book my profit and move away from bitcoin as i am not here in the market to pay higher transaction charges which does not make any sense Tongue

.

That is probably the only way in which this could happen during the next decade, after all like I said above not even the whole economy is so big, however it seems the scenario in which we see hyperinflation is slowly becoming true, yesterday the US approved a package of 1.9 trillion dollars and I can guarantee you all of that money is going to be printed, and most likely this is the reason the price of bitcoin went above 40k once again as it is impossible to sustain the economy when the government keeps printing so much money.

I doubt that US dollar could ever be like Zimbabwe, but we are seeing the troubles of USA not being financially smart in the past 5 years or so, it started with Trump and Biden is putting on top of it as well, they are giving money to very wealthy that keeps losing it, and I have to say not like they are losing it to someone else, they are literally losing it as a whole, which makes dollar more valuable by logic like a coin burning, but since it is in the market now, it is on the statistics but it is not in people's hands so it makes things more expensive while there is no money to actually back it up so it makes life harder and harder.

Poor people there are getting poorer and poorer, regular life became a lot harder to handle, and it is really destroying the whole nation. Long story short, it won't be like Zimbabwe, but it certainly becomes worse and worse, I probably won't see 10 million dollar bitcoin in my life time, but it will 100% happen in the future if dollar continues like this.

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Quote from: TheBitcoineers on January 13, 2021, 11:37:10 AM

Do you think that bitcoin could have a market cap of around 200 trillion? Is it feasible?

I'd say it is possible because everything in this market is kinda hard to predict after all. The main factor that could bring Bitcoin in that amount of market cap is a massive adaptation. Currently, we large institutions are now venturing into Bitcoin and this brings a lot of positive impact in the market especially in making it firm and stronger. If these large institutional investors continue to enter the market the rest will follow starting from small retailers up to large companies, by that time expect that the market cap will increase and so for the Bitcoin's value. $200 trillion is feasible however it will take a lot of time and effort.

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Quote from: TheBitcoineers on January 13, 2021, 11:37:10 AM

Do you think that bitcoin could have a market cap of around 200 trillion? Is it feasible?

It's is so hard but I think Bitcoin can do it. No matter how long we must wait but the day will come..

We all know that bitcoin at the first launch is nothing, right?? And now the price is surprising for all people. There are no people in the past that can predict the price would be $39K

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Quote from: ene1980 on February 01, 2021, 12:41:32 PM

Quote from: jackg on January 13, 2021, 11:56:23 AM

In today's money it is but there's inflation to factor in too...

Under the assumption bitcoin replaces the monetary system of about 2 billion people, then a $200 trillion market cap is feasible.

There is another feasibility if the valuation of US dollar goes down due to inflation like Zimbabwe national currency where 100 trillion is just below a dollar Tongue

. If you are assuming these valuation what is the transaction charges you will be paying. I will gladly book my profit and move away from bitcoin as i am not here in the market to pay higher transaction charges which does not make any sense Tongue

.

That is probably the only way in which this could happen during the next decade, after all like I said above not even the whole economy is so big, however it seems the scenario in which we see hyperinflation is slowly becoming true, yesterday the US approved a package of 1.9 trillion dollars and I can guarantee you all of that money is going to be printed, and most likely this is the reason the price of bitcoin went above 40k once again as it is impossible to sustain the economy when the government keeps printing so much money.

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Quote from: ene1980 on February 01, 2021, 12:41:32 PM

Quote from: jackg on January 13, 2021, 11:56:23 AM

In today's money it is but there's inflation to factor in too...

Under the assumption bitcoin replaces the monetary system of about 2 billion people, then a $200 trillion market cap is feasible.

There is another feasibility if the valuation of US dollar goes down due to inflation like Zimbabwe national currency where 100 trillion is just below a dollar Tongue

. If you are assuming these valuation what is the transaction charges you will be paying. I will gladly book my profit and move away from bitcoin as i am not here in the market to pay higher transaction charges which does not make any sense Tongue

.

We're a long way from that. The euro might become a world reserve currency but for now its stil usd which means they have to make it look attractive to countries using it.

Most large economies will stop stagnating after this year and may potentially start new rallies again imo so I doubt the usd has anything to worry about yet...

ene1980

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Quote from: jackg on January 13, 2021, 11:56:23 AM

In today's money it is but there's inflation to factor in too...

Under the assumption bitcoin replaces the monetary system of about 2 billion people, then a $200 trillion market cap is feasible.

There is another feasibility if the valuation of US dollar goes down due to inflation like Zimbabwe national currency where 100 trillion is just below a dollar Tongue

. If you are assuming these valuation what is the transaction charges you will be paying. I will gladly book my profit and move away from bitcoin as i am not here in the market to pay higher transaction charges which does not make any sense Tongue

.

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Quote from: TheBitcoineers on January 13, 2021, 11:37:10 AM

Do you think that bitcoin could have a market cap of around 200 trillion? Is it feasible?

10 million what? if you are talking about our Local Money then it will because if Bitcoin reached 100,000$ then for sure that will be a 10 million already.

But if you are asking about $? lol even if you are gone in this generation or the next , Bitcoin will still struggle to reach that.

we cannot even reach the 50k and not 10 million? if this will happen then the whole economic funds of my country will only worth 100 bitcoin ? damn that will hurt small country that can be bought by whales Grin

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Quote from: wheelz1200 on January 26, 2021, 11:09:51 PM

Quote from: TheBitcoineers on January 13, 2021, 11:37:10 AM

Do you think that bitcoin could have a market cap of around 200 trillion? Is it feasible?

I mean why not right. In 2010 you think many people thought it could hit a trillion. Welp here we are only 10 short years from there. It would take mass adoption worldwide but its definately doable. With that being said start stacking sats now Grin

The difficulty of this strives that we will need a huge deal of money coming to the market and even if I have great hopes for this market the last time I checked not even the whole world economy is worth 200 trillions so right now is completely impossible and it will continue to do so as bitcoin is nowhere near to have most of that money moving through it, so if I were to make a guess that will still take several decades at best and the only scenario in which this will not be true is if there is inflation so high that the value of the dollar crashes.

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Quote from: TheBitcoineers on January 13, 2021, 11:37:10 AM

Do you think that bitcoin could have a market cap of around 200 trillion? Is it feasible?

I mean why not right. In 2010 you think many people thought it could hit a trillion. Welp here we are only 10 short years from there. It would take mass adoption worldwide but its definately doable. With that being said start stacking sats now Grin

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Quote from: coin-investor on January 26, 2021, 04:37:22 AM

Quote from: TheBitcoineers on January 13, 2021, 11:37:10 AM

Do you think that bitcoin could have a market cap of around 200 trillion? Is it feasible?

For ten years nobody has thought that Bitcoin could hit 5 digits, almost everyone thinks that it's a bubble that was ready to explode, but look what Bitcoin has achieved now, ten million looks impossible but we never know what's going to happen in the next five years, the Cryptocurrency market keeps surprising us with many new milestones, it seems anything is possible here.

That's how amazing bitcoin was, surprises come unexpected but 10 million was too high when time comes. Maybe we should make it realistic towards $1million and I think its an optimized value which can be reached sooner. We don't know yet how many years it could take, since we're still struggling to see $30k this year due to several factors that affects it's potential growth.

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I think this is possible after a long time, frankly, I just think that speculation should not be given too many opportunities. It was a bit difficult to imagine this point years ago, but we are living now. For this reason, my guess for the future is easier than before.

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Quote from: TheBitcoineers on January 13, 2021, 11:37:10 AM

Do you think that bitcoin could have a market cap of around 200 trillion? Is it feasible?

There will be an opportunity for that, given the bitcoin price always trying to increase a lot after its previous all time has passed. And I'm sure when $42.000 has been passed we will the price will move soared. You can imagine for at least two years bitcoin price has been increasing for more than 100%, I still remember when its price was $3500 as all time high before its price touch $20.000, such price spikes could serve as the basis for bitcoin to be believed to have a market cap of 200 trillion in the future.

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Quote from: TheBitcoineers on January 13, 2021, 11:37:10 AM

Do you think that bitcoin could have a market cap of around 200 trillion? Is it feasible?

Your question is incomplete, what is it the time frame you think could take bitcoin to reach that market cap? If it is is something like less than a decade I think the answer is there is now way for that happen, if instead you are giving bitcoin several decades or even a century then that has a possibility of happening as the economy keeps growing, the popularity and adoption of bitcoin grows as well and inflation gets out of control during the next decades, however even then I do not think we are going to see such a huge market cap during our lifetimes.

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Quote from: TheBitcoineers on January 13, 2021, 11:37:10 AM

Do you think that bitcoin could have a market cap of around 200 trillion? Is it feasible?

Everything is possible but it wont really be that simple as this market would really be requiring extreme demand on hitting that up.This isnt something that
similar to forex which does have total of several trillions on its cap.

So if we do talk about 200 Trillion cap then that is really on the almost impossible side of things.We do need extreme adoption in that case.

For now we cant conclude yet but if we do really tend to see it realistically and tell according to our common sense then it wont really be that feasible.

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Quote from: adaseb on January 26, 2021, 01:11:45 AM

Well look at GameSpot as a perfect example. Its business peaked in 2007 when the stock was like $60. Then it was mostly headed down. Obviosuly the Gamespot is becoming like Blockbuster because people use digital downloads these days, so everybody assumed it would go bankrupt in 2020 or 2021 and it hit a low of $2-3K and then shortly after went to $160, basically over $100 from its peak business of 2007. Will the price stick to $160? Obviously not.

Its the same with Bitcoin. There could be a crazy rally and we might temporarily hit some crazy figure like $250K or $500K, due to short supply and massive amount of people short. However most likely it won't stay at that price for long because it would require a huge market cap that would be difficult to uphold.

I don't know the reason why gamespot has increased in stock price that much and no clue why would anyone pay that much for a company that is basically rivaled by epic and steam which are either giving free games or make games a lot cheaper. However I know one thing, gamespot or any other stock, a company is tied to its management and if management fails that company fails and the price would go down, it is all tied to the management and how you run the business, if the business is managed great that means the price would go up, and if it is mismanaged it will go down.

However bitcoin is not like that, bitcoin is an never ending increase in value because fiat is losing its value, will we have 1 million dollar per food type of inflation one day? Not any time soon, probably not even this century, but technically speaking that what inflation means and that should happen in the very distant future, so bitcoin WILL be 10 million, just not anytime in our lifetime most probably.

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Quote from: TheBitcoineers on January 13, 2021, 11:37:10 AM

Do you think that bitcoin could have a market cap of around 200 trillion? Is it feasible?

For ten years nobody has thought that Bitcoin could hit 5 digits, almost everyone thinks that it's a bubble that was ready to explode, but look what Bitcoin has achieved now, ten million looks impossible but we never know what's going to happen in the next five years, the Cryptocurrency market keeps surprising us with many new milestones, it seems anything is possible here.

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Well look at GameSpot as a perfect example. Its business peaked in 2007 when the stock was like $60. Then it was mostly headed down. Obviosuly the Gamespot is becoming like Blockbuster because people use digital downloads these days, so everybody assumed it would go bankrupt in 2020 or 2021 and it hit a low of $2-3K and then shortly after went to $160, basically over $100 from its peak business of 2007. Will the price stick to $160? Obviously not.

Its the same with Bitcoin. There could be a crazy rally and we might temporarily hit some crazy figure like $250K or $500K, due to short supply and massive amount of people short. However most likely it won't stay at that price for long because it would require a huge market cap that would be difficult to uphold.

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Never in my life, in this industry I had thoughts that the market price of Bitcoin could be in hundred thousand usd. Back then I am expecting only a $20k market price as its highest because for me, it would be quite weird for a currency to have that much of a price. But because of what we have seen recently, on its newly announced ATH, things are indeed possible but I still doubt for that much as million for a single digital currency which is at the same time, decentralized, that would still be crazy. I am just being realistic but if things occur, we just have to make use of every opportunity in order to gain something, that's how simple it is. But I will still avoid making such absurd speculation in its market value given that it is still under the progress of development.

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Quote from: Dabs on January 25, 2021, 09:57:15 AM

Bitcoin is the new global reserve currency or safe haven asset, whether banks like it or not. 10 million is just a matter of time.

Between publicly traded companies and a few private companies, they have more than 1.2 million BTC already.

https://bitcointreasuries.org/

There are only an estimated 4m to 5m BTC available in the open market, the rest are lost or being hodl'd.

30 years for large institutions and small family offices to buy all of them and drive the price up to 10 million per whole coin would seem to be conservative.

This post / thread may not age well.

it's only a matter of time...
maybe in the future, 1 satoshi will be worth $1k or more. limited Bitcoin circulating in the market will make the price increase, the Hodlers are useful for increasing prices.

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Bitcoin is the new global reserve currency or safe haven asset, whether banks like it or not. 10 million is just a matter of time.

Between publicly traded companies and a few private companies, they have more than 1.2 million BTC already.

https://bitcointreasuries.org/

There are only an estimated 4m to 5m BTC available in the open market, the rest are lost or being hodl'd.

30 years for large institutions and small family offices to buy all of them and drive the price up to 10 million per whole coin would seem to be conservative.

This post / thread may not age well.

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Quote from: exstasie on January 17, 2021, 04:39:16 PM

Quote from: jaberwock on January 17, 2021, 01:23:38 PM

Another scenario in which this is possible is if most countries in the world recognizes bitcoin as a legal tender. Many people will start holding it due to obvious reasons and the prices would go up.

Legal tender = individuals and businesses would be required to accept BTC for payment of debts. That implies BTC would have replaced major fiat currencies like the USD or CNY. There would be no other explanation for governments willingly pushing their citizens into using currencies that are completely outside of their control.

I don't see that happening. If fiat currencies collapse, they will be rebooted and possibly pegged or backed, maybe even by a basket of assets including BTC. However, nation states definitely will not willingly give up monetary control. They may issue a fiat currency tied to BTC (just as they once did with gold and silver coinage) but they'll never grant BTC legal tender status. It goes against everything governments stand for.

Agreed, bitcoin can actually become accepted by people and could in become a de facto currency and be used by a large section of the population but governments are never going to accept it directly, fiat currencies simply give them too much power.

And what better example of this than what happened in Zimbabwe, we saw hyperinflation in that country to the point people began to use other currencies like the US dollar and the Euro instead of their own currency so the government admited defeat but only for a while, years later they tried to impose their new currency once again bringing inflation back to the country and destroying the lives of their citizens once again in something that can only be considered a power move.

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Think of it this way, when bitcoin costs cents to $1 and to $40k recently, will that million price of bitcoin be possible?

Of course, it's all in the matter of time and adoption. If the percentage of people, countries and governments will increase and will consider bitcoin to be legal in any good use, when it will be known for it's high innovationd then time will come that the demand will be increased and bitcoin will gonna hit millions of dollars in the future.

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Quote from: jaberwock on January 17, 2021, 01:23:38 PM

Another scenario in which this is possible is if most countries in the world recognizes bitcoin as a legal tender. Many people will start holding it due to obvious reasons and the prices would go up.

Legal tender = individuals and businesses would be required to accept BTC for payment of debts. That implies BTC would have replaced major fiat currencies like the USD or CNY. There would be no other explanation for governments willingly pushing their citizens into using currencies that are completely outside of their control.

I don't see that happening. If fiat currencies collapse, they will be rebooted and possibly pegged or backed, maybe even by a basket of assets including BTC. However, nation states definitely will not willingly give up monetary control. They may issue a fiat currency tied to BTC (just as they once did with gold and silver coinage) but they'll never grant BTC legal tender status. It goes against everything governments stand for.

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Quote from: TheBitcoineers on January 13, 2021, 11:37:10 AM

Do you think that bitcoin could have a market cap of around 200 trillion? Is it feasible?

Similar questions have been asked through the years and the answer is always something similar, it is possible but how long will it take bitcoin to get to that level? And even more importantly how much can you buy with one dollar in that scenario?

Probably the second question is the one that is the most important, if the dollar is going through a process of hyperinflation then the price of bitcoin could grow significantly during that time and it could reach even ten million dollars but at that point those ten million dollars are not going to buy what they buy now, but as long as bitcoin can move faster than inflation then you're good and you will most likely be able to exchange your bitcoin in very favourable trades.

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We cant break $45,000 but $10M?

We yet are to find out though. Years ago, the $20K is just too much to ask but now its somehow a thing in the past. With Paypal and institutional investors who knows what we could achieve when big businesses are trying to grab at least few BTC with them.

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Quote from: dothebeats on January 14, 2021, 04:47:44 AM

Possible, though there would be a lot of factors that would come into play before it comes into fruition. One of which would be inflation, for sure. It's not a secret anymore that the economy suffers from inflation every year, and there will come a time that the devaluation would be so massive that the prices would seem to be too high when in reality it was all adjusted due to inflation. Bitcoin will not be exempted from that should the world's economy continues to use fiat for decades on end and undergo inflation.

Another scenario in which this is possible is if most countries in the world recognizes bitcoin as a legal tender. Many people will start holding it due to obvious reasons and the prices would go up. In a perfect world scenario this is easily achievable, although we know that there are a lot of hurdles that might come along the way that could prevent this exact thing from happening.

Countries recognizing as legal tender will probably not happen anytime soon, maybe in the future that could be a thing but I do not see it happening any time soon. However inflation is a lot scarier. We didn't had too much crazy inflation and we already reached 40k, that means if we were to be 10 million, we would need a lot more than what 2020 did, consider how horrible 2020 was and think it only made 4x increase, we would need about 20x increase from here, so that means we need a year that is 5 times worse than 2020 was, I hope that never happens.

We are going to end up looking at 2020 as one of the worst years in recent memory, every year people say "what a bad year, we finally move on to new year" but reality is that I think this was one of those 1918, 1945 type of big year, 2020 will be remembered even when every single person alive in 2020 dies, next generation will talk about how bad this year was even though they weren't alive just like how I wasn't alive in second world war but I know how bad it was. I hope that we do not have five times bigger than this in inflation Cheesy

that would be horrible.

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I think that could be possible.

With a lot of people that can invest in the near future, there is a possibility that it can reach such heights. Although I said that it is possible, the chances of it happening is so low that it might be impossible. Another thing is that there will be a lot of people that sell in certain heights that could affect the price.

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1 million dollars would be already a great achievement which could be actually reasonable if the world's billionaires will start pouring their 1-5% into btc as a long-term investment. Remember this is not only about scarcity: bitcoin is about wealth transferability, censorship resistance, security and so on. All things that wealthy guys like a lot.

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Quote from: ololajulo on January 16, 2021, 04:39:45 PM

There is possibility of 10 milliondollar in the future but what will drive the price there. We already have institutional investment that we have been clamoring for since 4 years ago, they created an unprecedented scarcity among new investors in cryptocurrency. We are considering the unit to take care of the trade but for whales they might struggle with liquidity at that big amount if need comes for trade.

I think the only thing that will drive the price to that point is a massive chunk of the capped supply is lost, my estimate would be around 75% of the capped supply will be lost before that kind of price happens which is impossible because more people that are involved in bitcoin are more careful with their private keys and their wallet so it will be unlikely that that kind of loss is possible. Maybe a war that would drive down cyber infrastructures could damage the supply.

ololajulo

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There is possibility of 10 milliondollar in the future but what will drive the price there. We already have institutional investment that we have been clamoring for since 4 years ago, they created an unprecedented scarcity among new investors in cryptocurrency. We are considering the unit to take care of the trade but for whales they might struggle with liquidity at that big amount if need comes for trade.

pixie85

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It's possible but what would be the probability?

When you ask if it's possible for you to win the lottery we have to say yes but what are the odds of that? Cheesy

100 thousand bitcoin? I'd say 80% that it happens one day.
1 million? Probably 40% chance
10 million? Would have to be a miracle like the NWO happening or something Cheesy

Twinkledoe

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Quote from: Indymoney on January 16, 2021, 04:10:53 PM

Quote from: bL4nkcode on January 16, 2021, 12:13:06 PM

Possible, but before it reaches a million worth, governments and other centralized identities will try to stop that with their lame excuses such as bubble, pyramid scheme, expensive fees, pump-and-dump scheme and etc. You heard it.

I am also feeling this can happen and most chances but until this time we will be not here in this world because its need very long time like as @Dabs already mention 2090 mean 70 years and its very long time for us.

That's a long time, wonder if most of us can see that momentous event. Anyway, everything is possible to happen, but we don't know when such period will occur. There will be setbacks along the way, but that's normal. If we see that the adoption is continuously increasing among individuals as well as merchants, we are heading to that direction. Or who knows, at some point bitcoin will become obsolete and there will be new discovery in town?

Saisher

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It will become the greatest store of value I hope to see that in my lifetime but there will be a lot of obstacles for Bitcoin to hit that level, the transaction fee and the high cost of transaction are two the big issues why it's adoption is not very fast, but all of us agree that it's not impossible but it will take a lot of years to reach that.

Indymoney

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Quote from: bL4nkcode on January 16, 2021, 12:13:06 PM

Possible, but before it reaches a million worth, governments and other centralized identities will try to stop that with their lame excuses such as bubble, pyramid scheme, expensive fees, pump-and-dump scheme and etc. You heard it.

I am also feeling this can happen and most chances but until this time we will be not here in this world because its need very long time like as @Dabs already mention 2090 mean 70 years and its very long time for us.

yhiaali3

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The market value of Bitcoin today is about 683 billion, according to coingecko.com, this equals much less than 1 trillion, this means that Bitcoin needs a huge jump to reach 200 trillion, however, I think this is not impossible due to the entry of large institutions into the world of bitcoin And increase the global adoption of Bitcoin. But it takes years to reach this number.

JimboToronto

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Quote from: TheBitcoineers on January 13, 2021, 11:37:10 AM

Do you think that bitcoin could have a market cap of around 200 trillion? Is it feasible?

Yes.

bL4nkcode

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Limited in number. Limitless in potential.

Possible, but before it reaches a million worth, governments and other centralized identities will try to stop that with their lame excuses such as bubble, pyramid scheme, expensive fees, pump-and-dump scheme and etc. You heard it.

hatshepsut93

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The only way Bitcoin would hit 10 million dollars is if a rapid hyperinflation of the US dollar would occur, which I think is highly unlikely, because the US government is not completely incompetent.

If you take the regular inflation and try to project it into hundreds years into the future, that won't work, because if prices would get too high, the US government would at some point relaunch the dollar to return it to smaller denominations.

Reid

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Inflation yes, high valued fiat money no.
Surely, we could call it "the moon" but it's doesn't look normal enough.
10 million hairs maybe.
Someone or something will always try to bring it down using the traditional ways as an excuse.
It will happen. They could just pretend people are not ready yet.

Dabs

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Today = 40k
2021 = 50k to 100k (or more)
before 2030 = 1m
before 2050 = 10m
before 2070 = 50m
before 2090 = 100m

I will not live to see the last bitcoin mined, but neither will anyone reading this today. But you don't have to. Get some now, HODL it, buy something with it in 10 years.

sunsilk

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It has a chance but what would be the situation of the world by that time it hits. Maybe you cannot buy cheap things under $10 and the world, most countries are into huge inflation if that time comes. But since there's a rush into fin-techs, the world may allow that to happen at the earliest. People are getting more interested in investments that are involved in technology.

Bitcoin is the best performing asset within a decade but we'll never know if it's likely to get into that cap after another 10 years. And whenever it does, how I wish that we still have at least one.

btc_angela

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Quote from: TheBitcoineers on January 13, 2021, 11:37:10 AM

Do you think that bitcoin could have a market cap of around 200 trillion? Is it feasible?

Why not? When bitcoin hits $50k-$100k this year or in the next coming years, everything has open wide. What I mean is that bitcoin has gain people's attention, regardless if it is retail, institutions, big and successful companies or even average Joe like you and me.

And with banks and government printing money, just a matter of time. And the conditions should be ripe at all in order to see this one day.

dothebeats

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Possible, though there would be a lot of factors that would come into play before it comes into fruition. One of which would be inflation, for sure. It's not a secret anymore that the economy suffers from inflation every year, and there will come a time that the devaluation would be so massive that the prices would seem to be too high when in reality it was all adjusted due to inflation. Bitcoin will not be exempted from that should the world's economy continues to use fiat for decades on end and undergo inflation.

Another scenario in which this is possible is if most countries in the world recognizes bitcoin as a legal tender. Many people will start holding it due to obvious reasons and the prices would go up. In a perfect world scenario this is easily achievable, although we know that there are a lot of hurdles that might come along the way that could prevent this exact thing from happening.

peter0425

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Quote from: TheBitcoineers on January 13, 2021, 11:37:10 AM

Do you think that bitcoin could have a market cap of around 200 trillion? Is it feasible?

Your First post from account creation is this

Quote from: TheBitcoineers on January 12, 2021, 08:39:39 AM

Hello. I am creating a cryptocurrency and would like to allow users to mine the new crypto directly from the core client. What code do I have to put back into bitcoin core in order to re-enable the gen=1 and setgenerate true?

and Now asking Bitcoin if can reached 10,000,000$ ever ?

~~~~ ~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~

Can't comment in this So Huge amount , i would rather believe when it happens than frustrate myself .

thecodebear

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With lots of inflation sure. Like in 100 years. In today's money (in the next few decades), I think it could reach maybe $2 million once institutional adoption reaches maturity, a couple billion people owning bitcoin, some usage as a transactional currency, and maybe govts/central banks buying some like they own gold. Throw in 100 years of inflation and it could be $10 million in much less valuable dollars. Bitcoin won't ever replace national currencies, which is what it would take to get to $10 million in today's dollars, so no that won't happen.

teosanru

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Quote from: TheBitcoineers on January 13, 2021, 11:37:10 AM

Do you think that bitcoin could have a market cap of around 200 trillion? Is it feasible?

One possibility of this happening is almost everyone coming on bitcoin and using it for transactions or storing their wealth. But this doesn't look practical as we already are facing a hell of lot of scaling issues with huge fees along with that. If we expect the value of bitcoin even at 100000$ we are talking about fees of more than 40$ per transaction which is insanely high. Until we can solve this issue I don't think we can grow that high. Alternative chains and Lightning Network might help a bit but everyone knows that they don't really offer a great solution to this problem. But yes 200 Trillion is a pretty big number even the whole US GDP is about 20 Trillion $. So 10 Million is quite an unrealistic number we currently aren't even 1 Trillion.

DeathAngel

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It’s definitely possible but the demand will have to continue to be high for bitcoin. Traditional banking systems will have to continue to suck, money printing will have to continue which will in turn devalue fiat. It will take a few block reward halvings too so the supply of bitcoin is really starved.

jackg

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https://bit.ly/387FXHi lightning theory

In today's money it is but there's inflation to factor in too...

Under the assumption bitcoin replaces the monetary system of about 2 billion people, then a $200 trillion market cap is feasible.

Assuming there's $60tr in the US and €80tr in the whole of Europe (Inc Scandinavia, the UK and a few other regions) then a market of $160tr is already kinda achievable for 900 million people. I don't imagine these countries turning to bitcoin but if accepted as "legal tender" there might be quite a few people holding it especially if it gets some sort of status in China, India, Africa and South America - which could happen if some larger countries split or undergo inflation at a very high rate.

TheBitcoineers

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Do you think that bitcoin could have a market cap of around 200 trillion? Is it feasible?

Topic: Do you think that bitcoin could hit 10 million ever? (Read 620 times)