Mass adoption? Seriously what would price be? - page 2.

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: Amph on July 27, 2015, 02:06:20 AM

the global gdp is 77T so we can say around 1Q this put one satoshi from 0.1 to 1 dollar and one bitcoin from 10M to 100M, if we were to compare it to the global economy and not just usd

but i believe that mass adoption can happen much early, there is the possibility that eveyrone that would ever be interested would use bitcoin without necessarely reaching 7B people which is impossible

at that point the price would be fairly lower probably no more than 100k-1M

Keep dreaming

Nothing wrong with having a fantasy, but this is far beyond that. Bitcoin is and will never be more than an alternative.

aakashsangwan

hero member

Activity: 994

Merit: 1000

PUGG.io

Well for right now, the price of Bitcoin is unpredictable.
But the case of mass adaption is very far from right now.
So for now we should not think about the price of Bitcoin but hope for its mass adaption.

S4VV4S

hero member

Activity: 1582

Merit: 502

Quote from: Kprawn on July 27, 2015, 01:34:03 AM

This will never happen with Bitcoin.... Governments and banks have been working together for years, and they manipulate the value of money through control. They will never relinquish control over that.

If fiat collapse, the banks would have a Plan B and the governments will enforce it onto it's people. The banks are already working on their own ripp off version of the Blockchain.

They will have a centralized Blockchain solution, controlled and manipulated by the Reserve bank, and they are owned by the banks. The people will become the puppets and they will control the strings.

It's been like that for centuries, why would it change now? Satoshi has given them a new toy.... and they will use it for sure. Ripple...ripple...ripple.. Sad

I couldn't agree with you more.
However, those who know will choose to use Bitcoin instead of FederalReserveCoin.
It is up to us to educate people and let them make their own decision on what they would like to use as legal tender.

I am pretty sure that even those who are not tech savvy have looked into Bitcoin following what happened with the banks in Greece and Cyprus.
Hell, I wouldn't be surprised if politicians and bankers chose Bitcoin/Crypto to get some money out of the country.

Amph

legendary

Activity: 3248

Merit: 1070

the global gdp is 77T so we can say around 1Q this put one satoshi from 0.1 to 1 dollar and one bitcoin from 10M to 100M, if we were to compare it to the global economy and not just usd

but i believe that mass adoption can happen much early, there is the possibility that eveyrone that would ever be interested would use bitcoin without necessarely reaching 7B people which is impossible

at that point the price would be fairly lower probably no more than 100k-1M

Kprawn

legendary

Activity: 1904

Merit: 1074

This will never happen with Bitcoin.... Governments and banks have been working together for years, and they manipulate the value of money through control. They will never relinquish control over that.

If fiat collapse, the banks would have a Plan B and the governments will enforce it onto it's people. The banks are already working on their own ripp off version of the Blockchain.

They will have a centralized Blockchain solution, controlled and manipulated by the Reserve bank, and they are owned by the banks. The people will become the puppets and they will control the strings.

It's been like that for centuries, why would it change now? Satoshi has given them a new toy.... and they will use it for sure. Ripple...ripple...ripple.. Sad

Hopalong

member

Activity: 112

Merit: 10

If dollar should collapse then nobody would start using bitcoins. The hoarders will not sell their coins for a collapsed currency. Dollar would be replaced by a new fiat.

Only a country without thier own currency would be able to buy bitcoins since they would use a foreign currency to buy.

xhoneyael

sr. member

Activity: 462

Merit: 250

www.AntiBitcoinTalk.com

Quote from: Lauda on July 26, 2015, 11:23:45 PM

Well we could all try to guess numbers but we either will never see such a scenario or we are going to be wrong. I'd say anywhere upwards of $1M. However, this will not matter at all. If the dollar collapses good luck trying to survive with money.

Quote from: newrad on July 26, 2015, 10:10:11 PM

If your scenario were to happen then the "price" of bitcoin would not matter, because Bitcoin would be the preferred currency to spend money. Until people stop looking at BTC like some kind of stock, and instead look at it as a better means of transaction the adoption of Bitcoin will be hear sooner than later.

The mentality of "how much U.S. Dollars cant I get for bitcoin in a few years" needs to stop.... Now.

I strongly agree with this. I've said this a number of times, a lot of people are here for the wrong reasons (greed, i.e. cashing out in some other currency).

thats will be good if it will happen but i think the transaction fee in blockchain will be so high in that price.

nextgencoin

legendary

Activity: 1106

Merit: 1000

Quote from: Lauda on July 26, 2015, 11:23:45 PM

Well we could all try to guess numbers but we either will never see such a scenario or we are going to be wrong. I'd say anywhere upwards of $1M. However, this will not matter at all. If the dollar collapses good luck trying to survive with money.

Quote from: newrad on July 26, 2015, 10:10:11 PM

If your scenario were to happen then the "price" of bitcoin would not matter, because Bitcoin would be the preferred currency to spend money. Until people stop looking at BTC like some kind of stock, and instead look at it as a better means of transaction the adoption of Bitcoin will be hear sooner than later.

The mentality of "how much U.S. Dollars cant I get for bitcoin in a few years" needs to stop.... Now.

I strongly agree with this. I've said this a number of times, a lot of people are here for the wrong reasons (greed, i.e. cashing out in some other currency).

Struggling to take financial Puritan moral lessons from someone heavily involved in Bitcoin Casinos....

Personally I'm very into the Libertarian principles of Bitcoin and the end of financial slavery that Central Banks has over the world. But IF I truly believe in Bitcoins potential which will mean it will rise in value considerably then I would have to be making an active decision to avoid taking that opportunity....why would anyone do that? Would you?

And if I use the Dollar as a way to describe value it doesn't mean I want to at some point move to actual dollars geez, why is that so hard to understand for people....

Plus no one said they want to use money during a financial collapse, the issue is more as all other fiat wealth has collpased you come out the other end with wealth intact and Bitcoin as a potential global currency. Also opportunities to buy real assets dirt cheap. A doomsday scenario doesnt mean anyway the end of a trading economy so Bitcoin during the collapse would also present opportunities.....maybe save your life even...

odolvlobo

legendary

Activity: 4466

Merit: 3391

I can't find equivalent information for the global monetary base, so I'll stick to U.S. only.

TL;DR: If BTC completely replaced USD today, then each bitcoin would be worth about $278,000, or potentially much less.

The monetary base is dollars issued by the Federal Reserves and is about $4 trillion. Other money supply values include varying degrees of fractional reserve banking. Assuming that Bitcoin is subject to FRB just like the dollar, then switching BTC for USD would mean that the 14.4 million BTC currently in existence would be worth about $4 trillion, and each bitcoin would be worth about $278,000.

However, the price of something depends on supply and demand. In this case "supply" is not the same as "money supply", primarily because velocity is a factor. Assuming that Bitcoin is a more efficient currency than the dollar, then the velocity would be higher, and the supply (as opposed to money supply) would be higher, and the value would be lower.

Lauda

legendary

Activity: 2674

Merit: 2970

Terminated.

Well we could all try to guess numbers but we either will never see such a scenario or we are going to be wrong. I'd say anywhere upwards of $1M (if mass adoption = 99% people using). However, this will not matter at all. If the dollar collapses good luck trying to survive with money.

Quote from: newrad on July 26, 2015, 10:10:11 PM

If your scenario were to happen then the "price" of bitcoin would not matter, because Bitcoin would be the preferred currency to spend money. Until people stop looking at BTC like some kind of stock, and instead look at it as a better means of transaction the adoption of Bitcoin will be hear sooner than later.

The mentality of "how much U.S. Dollars cant I get for bitcoin in a few years" needs to stop.... Now.

I strongly agree with this. I've said this a number of times, a lot of people are here for the wrong reasons (greed, i.e. cashing out in some other currency).

Update:

Quote from: nextgencoin on July 26, 2015, 11:38:03 PM

Struggling to take financial moral lessons from someone heavily involved in Bitcoin Casinos....

This is irrelevant and false.

AgentofCoin

legendary

Activity: 1092

Merit: 1001

Quote from: nextgencoin on July 26, 2015, 10:47:59 PM

Quote from: AgentofCoin on July 26, 2015, 10:43:41 PM

I think, to answer your question in present terms, super positive price for 1 BTC would be around 5 Million USD.
This number is only based on USA.
If the world began using BTC as its only means of currency exchange, then 15.5 Million USD per 1 BTC.
IMO

Sounds nuts but it's actually way more accurate that winkleloss bros saying it could get to $50,000. I mean Coinbase CEO is now saying it could become the reserve currency. In the eye of a currency collapse storm which we are heading toward its not that crazy to think people would reach for the one currency that actually worked.

When the Wink Bros say $50k USD, I think they are thinking just a 1 Billion Market Cap.
That is the number as a payment processor, like VISA, Mastercard, etc (combined).

If "Dollar Collapses" or the World uses BTC as its collective global currency system/supply, then I think 5 to 15 Million USD.

I could be very wrong, I'm no economist nor mathematician.
I'm just thinking dooms day scenario for world, but most positive outcome for BTC.

EDIT:
CORRECTIONS: The 1 Billion Market Cap, that I stated above, should really be around 700 Billion Market Cap.
CORRECTIONS: All Credit Card Companies (USA) combined in 2012 was 7+ Trillion Market Cap.
CLARIFICATION: When I calculated my "5 to 15 Million USD" above, I was using 2014 USA Wealth to 2014 World Wealth Stats.
CLARIFICATION: 2014 World Wealth = 264 Trillion USD divided by 21,000,000 BTC = 12.5 Million USD

nextgencoin

legendary

Activity: 1106

Merit: 1000

Quote from: newrad on July 26, 2015, 10:10:11 PM

If your scenario were to happen then the "price" of bitcoin would not matter, because Bitcoin would be the preferred currency to spend money. Until people stop looking at BTC like some kind of stock, and instead look at it as a better means of transaction the adoption of Bitcoin will be hear sooner than later.

The mentality of "how much U.S. Dollars cant I get for bitcoin in a few years" needs to stop.... Now.

No one said anything about US Dollars? But it's an understandable way to describe wealth based on our current system. Duh

If you like we can use horses or cattle or houses to describe the potential value of Bitcoin in the future.....and yes if BTC did become the reserve currency then sorry but for many on this forum it would 'matter' groan...

nextgencoin

legendary

Activity: 1106

Merit: 1000

Quote from: AgentofCoin on July 26, 2015, 10:43:41 PM

Quote from: nextgencoin on July 26, 2015, 09:57:10 PM

Let's just say Bitcoin did do as well as most people most positive scenarios. Say the dollar collapses and Bitcoin is seen as a haven and say within 5-15 years Bitcoin was the reserve currency, the backbone of the global money supply. I'm sure other fiat currencies would still exist but what would the price likely be in this super positive scenario?
...

I think, to answer your question in present terms, super positive price for 1 BTC would be around 5 Million USD.
This number is only based on USA.
If the world began using BTC as its only means of currency exchange, then 15.5 Million USD per 1 BTC.

IMO

Sounds nuts but it's actually way more accurate that winkleloss bros saying it could get to $50,000. I mean Coinbase CEO is now saying it could become the reserve currency. In the eye of a currency collapse storm which we are heading toward its not that crazy to think people would reach for the one currency that actually worked.

AgentofCoin

legendary

Activity: 1092

Merit: 1001

Quote from: nextgencoin on July 26, 2015, 09:57:10 PM

Let's just say Bitcoin did do as well as most people most positive scenarios. Say the dollar collapses and Bitcoin is seen as a haven and say within 5-15 years Bitcoin was the reserve currency, the backbone of the global money supply. I'm sure other fiat currencies would still exist but what would the price likely be in this super positive scenario?
...

I think, to answer your question in present terms, super positive price for 1 BTC would be around 5 Million USD.
This number is only based on USA.
If the world began using BTC as its only means of currency exchange, then 15.5 Million USD per 1 BTC.

IMO

jonald_fyookball

legendary

Activity: 1302

Merit: 1008

Core dev leaves me neg feedback #abuse #political

world reserve currency could be roughly on the order of a ten trillion dollar market cap.

newrad

member

Activity: 60

Merit: 10

If your scenario were to happen then the "price" of bitcoin would not matter, because Bitcoin would be the preferred currency to spend money. Until people stop looking at BTC like some kind of stock, and instead look at it as a better means of transaction the adoption of Bitcoin will be hear sooner than later.

The mentality of "how much U.S. Dollars cant I get for bitcoin in a few years" needs to stop.... Now.

nextgencoin

legendary

Activity: 1106

Merit: 1000

Let's just say Bitcoin did do as well as most people most positive scenarios. Say the dollar collapses and Bitcoin is seen as a haven and say within 5-15 years Bitcoin was the reserve currency, the backbone of the global money supply. I'm sure other fiat currencies would still exist but what would the price likely be in this super positive scenario?

the reason i ask is I'm looking at the marketcap of Bitcoin and a few billion these days is almost nothing in the global a big picture so in theory the biggest gains could be ahead?

Topic: Mass adoption? Seriously what would price be? - page 2. (Read 2147 times)