how will bitcoin reach one million dollars?

cellard

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Quote from: WinslowIII on November 18, 2018, 03:04:52 PM

Quote from: waniowski on November 18, 2018, 02:43:43 PM

Such a scenario is not impossible at all. BTC market regulation will help to get SEC permission for bitcoin ETF registration and then big money will flow in and cause the price to rise. Its a matter of time.

Last halving pump trxs took forever and were way too expensive. The only way it's going to continue up to anywhere near $1m is if scaling solutions are in place and functioning. If not, price will be slammed down again when faced with a failure to scale as before.

How do we know that those were real trxs and not just spam by Roger Ver, Jihan Wu and the usual suspects?

Obviously there was increased organic traffic happening and the mempool went up, but the blocksize was also obviously cluttered by bad actors. Tx batching was not in yet and segwit wasn't as well.

The question is: was the rise stopped because of tx fee being too high, or it crashed because it just had to crash as it went out of hand? Shall we risk a another hardfork drama to find out?

WinslowIII

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Quote from: waniowski on November 18, 2018, 02:43:43 PM

Such a scenario is not impossible at all. BTC market regulation will help to get SEC permission for bitcoin ETF registration and then big money will flow in and cause the price to rise. Its a matter of time.

Last halving pump trxs took forever and were way too expensive. The only way it's going to continue up to anywhere near $1m is if scaling solutions are in place and functioning. If not, price will be slammed down again when faced with a failure to scale as before.

waniowski

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Such a scenario is not impossible at all. BTC market regulation will help to get SEC permission for bitcoin ETF registration and then big money will flow in and cause the price to rise. Its a matter of time.

cellard

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Quote from: blockman on November 13, 2018, 09:11:57 AM

I doubt it that we'll see bitcoin goes on $1,000,000 by 2020. Someone shared this chart on how its possible to happen.

https://bircoin.top/

Its impossible by looking at the market right now and few years from now we're already on 2020. Unrealistic price as it is but who knows?

We were 296 ahead of the prediction on 16th december 2017 when the $20k peak happened. We are now 298 days below.. it's not that far fetched. The longer time period we are for more than 296 days below the higher % that it will not happen, but the next peak will dwarf $20k and we may be days ahead again. Here is the chart:

If we see a big bullrun that tests the MtGox peak upper channel line, we could reach $1,000,000 before 2021 (remember that his prediction is valid until Dec 31th 2020).

Im not saying it will happen, most likely case scenario is around $100k, but if moons align it could happen.

Febo

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Quote from: davis196 on November 13, 2018, 07:15:38 AM

Quote from: bitcoinsc on March 08, 2018, 02:48:18 AM

so far bitcoin is at $9800 to hit $1,000,000 you need a 10,500% growth
if you multiply the market cap of bitcoin to 10,500% you would need tons of money
at $17,000,000,000,000
that is 17 trillion. damn where would we get all of that money? maybe in 10+ years is more realistic. but in 2020. that would be difficult. Im not sure how the supply would increase the price. but someone can tell me?

Stop dreaming about the "1 million bitcoin price".This is just a fantasy.There's no way for the bitcoin market cap to reach 17 trillion US dollars.Even if China and India fully accept bitcoin,even if the major corporations start investing into btc.There's no way,because there's no killer advantage of btc.It's just a speculation tool.

You are so wrong. Bitcoin have huge killer advantage in security and decentralization. No other form of money can compare with it.

WinslowIII

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It doesn't take $17 trillion to reach a $17 trillion mkt cap, who told you such a stupid thing? it only would take a small fraction of that combined with strong reasons for holding.

qwertyup23

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Quote from: CrazeCoinz on November 11, 2018, 05:21:10 AM

Yeah that's right it's a huge amount of money and your too ambitious to think. Although crypto is full of surprises I just cross my fingers because dreaming is free. All of us has our own prediction of bitcoin price. I'm happy to see bitcoin at $50k level.

I have my reservations about the price of bitcoin reaching a million dollars anytime soon. It is possible but the chances of it happening are very slim due to various factors, such as the industry itself, the nature of bitcoin, its status and legalization among countries and the possible implications of implementing it as a standard use for currency. What separates cryptocurrencies from conventional currencies is its component- which they solely exist digitally. Unlike gold and fiatwhich are made from materials such as precious metals and paper, cryptocurrencies has no innate value.

When we talk about its price on the market, what primarily determines its price is the law of demand and supply in the market. Investors acquire cryptocurrencies and sell them on a value higher from what they acquired initially- which explains its high volatility.
To give you an actual example, last year around December 2017, the price skyrocketed and reached a value of almost $20,000 but it quickly submerged down to $15,000 and ultimately to $6,000-$7,000. I doubt that bitcoin would reach a million dollars but I am keeping my hopes up once it reaches a value that is higher from what I acquired them initially for easy profit!

Meowth05

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Quote from: bitcoin31 on November 11, 2018, 04:32:56 AM

Bitcoin will never reach 1 million dollars that is reality. I know dreaming is free but sometimes we need to be realistic of what is high chance to happen and that is not. But depende to the person if they believe on that or not.

Well, who knows this community was so unpredictable. No one can claim what might it could be in the future. Remember it was priceless before that it comes to a point that bunch of BTC is just enought to buy a pizza. And compare on how much it is now, big difference isn't? I mean no one can anticipate what will happen so just keep believing upon it. Those who have postive thinking could recieve an unexpected reward.

blockman

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I doubt it that we'll see bitcoin goes on $1,000,000 by 2020. Someone shared this chart on how its possible to happen.

https://bircoin.top/

Its impossible by looking at the market right now and few years from now we're already on 2020. Unrealistic price as it is but who knows?

Shinpako09

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For me, I don't think btc will reach that price. Let's get real, that price is impossible to happen and even if it will, sure thing it will take not just 2 decade or you're not even in this world. Before you dream of such price think of when will btc recover. Even recovering takes how many years then how about that $1M. 2 decade? 3, 4 or even 5 decade and it isn't a guaranteed.

davis196

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Quote from: bitcoinsc on March 08, 2018, 02:48:18 AM

so far bitcoin is at $9800 to hit $1,000,000 you need a 10,500% growth
if you multiply the market cap of bitcoin to 10,500% you would need tons of money
at $17,000,000,000,000
that is 17 trillion. damn where would we get all of that money? maybe in 10+ years is more realistic. but in 2020. that would be difficult. Im not sure how the supply would increase the price. but someone can tell me?

Stop dreaming about the "1 million bitcoin price".This is just a fantasy.There's no way for the bitcoin market cap to reach 17 trillion US dollars.Even if China and India fully accept bitcoin,even if the major corporations start investing into btc.There's no way,because there's no killer advantage of btc.It's just a speculation tool.

tytanhamon04

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Of course, there is very little time left until 2020 and I think that this huge amount of money will not come to the market but within 10 years it is possible because bitcoin in the past 10 years has proved to be a great technology that has no equal in the economy !

xuan87

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I still think it's possible, with all people using Bitcoin for all transaction then it's possible,that 17 trillion is the transaction volume, so its still possible to reach that number even though that number look so big, we already reach the impossible from 1 dollar to almost 20k

talkbitcoin

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All I know is that I know nothing.

let me ask you this, what makes $17 trillion big? and why do you think that the current $100 billion is not big?

being "big" is a comparison. for example if you say 1 meter is big, it may be big if you are talking about a sandwich but it is small if you are talking about height of a person!
so what is it that you are comparing bitcoin market cap ($17 trillion) with that makes you think it is big and not a small one?

el kaka22

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Quote from: bitcoinsc on March 08, 2018, 02:48:18 AM

so far bitcoin is at $9800 to hit $1,000,000 you need a 10,500% growth
if you multiply the market cap of bitcoin to 10,500% you would need tons of money
at $17,000,000,000,000
that is 17 trillion. damn where would we get all of that money? maybe in 10+ years is more realistic. but in 2020. that would be difficult. Im not sure how the supply would increase the price. but someone can tell me?

You do not need 17 trillion added to the market. Marketcap is not going up because people put money in it. That is not how it works. Right now without a single dollar put into bitcoin all the sellers can decide bitcoin worth a lot more and decide to sell no bitcoins under 100 thousand dollars and the marketcap would skyrocket because anyone who wants to buy bitcoin will have to pay at 100 thousand dollars per bitcoin prices, that is without putting a single dollar into bitcoin.

The logic that the more money comes in the higher bitcoin goes comes from the fact that if there are more money coming in that means there are more buyers which means sellers who sell for cheap will be gone and the sell order will be eaten by a huge chunk of buy orders which will increase the price. Simplest way but far from only way.

cindygirl

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Quote from: Pursuer on November 12, 2018, 04:13:22 AM

going from $0.001 to $20000 was 1,999,999,900% rise. now you are arguing that 10000% rise is too much?! besides it has nothing to do with the percentage of the rise. when you look at the numbers like this of course you will be confused. instead you should look at it this way:
the cap is at 21 million bitcoin so there can't be any more. and there are billions of people around the world who are slowly adopting bitcoin and want a portion of it. as the supply remains fixed and the demand grows the price goes up with it. the fact is the unit that bitcoin has ever used is "satoshi" not "bitcoin"! and we should talk about 1 satoshi's price instead.
right now the adoption is less than 1% of the world and as that grows the price goes up.

Considering just previous percentage growth is also a naive approach, there are very few things whereby growth is constant, as growth happens then growth inevitably slows until it reaches a maximum possible. While you're right there are many people left who are not invested in to bitcoin, you also need to consider that the price is being determined in USD and there are only so many USD to go around. $21tn is a lot of USD just to be 'invested' in to bitcoin. I say invested like that because I understand that a $21tn market cap doesn't actually mean there are $21tn dollars behind it.

Pursuer

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going from $0.001 to $20000 was 1,999,999,900% rise. now you are arguing that 10000% rise is too much?! besides it has nothing to do with the percentage of the rise. when you look at the numbers like this of course you will be confused. instead you should look at it this way:
the cap is at 21 million bitcoin so there can't be any more. and there are billions of people around the world who are slowly adopting bitcoin and want a portion of it. as the supply remains fixed and the demand grows the price goes up with it. the fact is the unit that bitcoin has ever used is "satoshi" not "bitcoin"! and we should talk about 1 satoshi's price instead.
right now the adoption is less than 1% of the world and as that grows the price goes up.

Febo

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Quote from: bitcoinsc on March 08, 2018, 02:48:18 AM

so far bitcoin is at $9800 to hit $1,000,000 you need a 10,500% growth
if you multiply the market cap of bitcoin to 10,500% you would need tons of money
at $17,000,000,000,000
that is 17 trillion. damn where would we get all of that money? maybe in 10+ years is more realistic. but in 2020. that would be difficult. I am not sure how the supply would increase the price. but someone can tell me?

Not sure where you got an idea of Bitcoin at $1 million in 2020. End of 2020 is only 2 years away. I dont give much chances that price will be over $50k by that time.

Dilerium90

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Quote from: Johnzky on November 11, 2018, 07:13:40 AM

Quote from: bitcoinsc on March 08, 2018, 02:48:18 AM

so far bitcoin is at $9800 to hit $1,000,000 you need a 10,500% growth
if you multiply the market cap of bitcoin to 10,500% you would need tons of money
at $17,000,000,000,000
that is 17 trillion. damn where would we get all of that money? maybe in 10+ years is more realistic. but in 2020. that would be difficult. Im not sure how the supply would increase the price. but someone can tell me?

Basically you are the only one here who’s believing this craziness
Bitcoin is a currency though in a form of virtualization,so how would you expect this will value a million dollar?
Please be realistic ,yes we can give speculations but not hallucinations,just saying

Actually, I also do not really imagine how bitcoin could cost $ 1,000,000 in the near future. In my opinion, such a huge capitalization can not be achieved without a serious infusion of funds and expansion of the market. While it is unreal. Moreover, we have a maximum of $ 20,000, which we still have to try to break through.

Johnzky

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Quote from: bitcoinsc on March 08, 2018, 02:48:18 AM

so far bitcoin is at $9800 to hit $1,000,000 you need a 10,500% growth
if you multiply the market cap of bitcoin to 10,500% you would need tons of money
at $17,000,000,000,000
that is 17 trillion. damn where would we get all of that money? maybe in 10+ years is more realistic. but in 2020. that would be difficult. Im not sure how the supply would increase the price. but someone can tell me?

Basically you are the only one here who’s believing this craziness
Bitcoin is a currency though in a form of virtualization,so how would you expect this will value a million dollar?
Please be realistic ,yes we can give speculations but not hallucinations,just saying

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