So if Bitcoin goes to $1m or $10m or $100m a coin....

muenze

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Quote from: MakeMoneyBtc on September 23, 2017, 05:51:36 PM

I think it is impossible for bitcoin to get to $1m because then the total supply of bitcoin will worth over $21 quadrillion wich seems like an enormous amount. The maximum price bitcoin is going to have is $100k from my opinion. Still 100k is huge for 1bitcoin but if it gets known and used in the whole world it would be reasonable

There is 1 billion in euro-notes currently. But you have to see that this is not all the euro there is, its just the cash amounts. Also with bitcoin a lot of people are holding their coins, so only a percentage of all bitcoins is actually available. So even if the market cap of bitcoin gets to, like a couple of trillions, it could still just be a much smaller amount actually available for all the bitcoin payment needs people have.

MakeMoneyBtc

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I think it is impossible for bitcoin to get to $1m because then the total supply of bitcoin will worth over $21 quadrillion wich seems like an enormous amount. The maximum price bitcoin is going to have is $100k from my opinion. Still 100k is huge for 1bitcoin but if it gets known and used in the whole world it would be reasonable

pereira4

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Quote from: alani123 on September 22, 2017, 07:06:38 PM

At that point, it'd seem like actual money wasn't worth all that much. Bitcoin is already well distributed to many parties so a rise to such prices would warrant out of market factors that are likely too unrealistic. Under current circumstances, decentralization would have it that there's always going to be selling pressure for bitcoin to actually not go to such prices.

The concept of "actual money" being only government backed money is what will change once more people are using cryptocurrencies than these using fiat currencies, and we will win because eventually all currencies end up getting devaluated into oblivion Venezuela style, and the next logical step for everyone unfortunate enough to be on these countries will join Bitcoin. Bitcoin is a global team and all expatriates that get fucked in the ass due deprecating fiat currencies will join us and we will in.

denny27

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I rate it seems very high for bitcoin price that are still in development process over time and easily influenced by various news. But if that happens, it looks like there will be major changes around the world in terms on viewing / respons on bitcoin and will make many peoples flocked to be closer on bitcoin. But i can't yet ensure if bitcoin price can reaches that value.

mozillaspez

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Quote from: Fortify on September 22, 2017, 04:10:54 AM

If you consider it like gold, then of course governments would want a piece of the action. However, those governments have every power to stop it reaching those heights. Unless they start to requisition bitcoin off their own people, they will have to buy it at the going market rate and it will be decades before that is a reality.

Government cannot stop bitcoin because bitcoin is going upward and it is breaking records everywhere so we can say that bitcoin is unstoppable and it will reach to the sky and make happy everyone who are with bitcoin.

alani123

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At that point, it'd seem like actual money wasn't worth all that much. Bitcoin is already well distributed to many parties so a rise to such prices would warrant out of market factors that are likely too unrealistic. Under current circumstances, decentralization would have it that there's always going to be selling pressure for bitcoin to actually not go to such prices.

Question123

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Thats price is very big and impossible to happen even you wait 1 century. Because for me the highest price of hitcoin is 30k dollars. But everything is possible to happen . But I hope the price of bitcoin increase.

angaper

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Quote from: muenze on September 13, 2017, 06:54:01 PM

And becomes a giant world currency...

Wouldnt there be quite the HUGE interest by govs of US, russia, china to own huge parts of it?

I do not see the need for certain countries to try to control the bitcoin, since they have been making considerable efforts to damage its reputation, but when they realize that its advance is unstoppable, it will be too late for those countries and there will be big capitals holding the majority of bitcoin.

But on the other hand, all these systematic attacks could also try to dump the price of bitcoin to subversively acquire its domain at better prices.

Morguk

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Agree with the others that $1 million is possible in the long run, keyword possible. Surpassing $1 million is ridiculous. We already need a 250x increase on current prices for $1 million, that's a 24900% increase.

jimbo2000

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Of course if bitcoin were to reach the levels mentioned then it would mean there is mass worldwide interest and usage and it would be inevitable that governments would look to have a part of this in one way or another. Unfortunately the feasibility of it really reaching such levels is quite unlikely, this would take probably hundreds of years and the absolute best case scenario in terms of global adoption. A price of $1m would mean a market cap of 21 trillion which is about 1/4 of the estimated broad money supply.

player514

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Quote from: BigBoy89 on September 14, 2017, 02:46:16 PM

Quote from: muenze on September 13, 2017, 06:54:01 PM

And becomes a giant world currency...

Wouldnt there be quite the HUGE interest by govs of US, russia, china to own huge parts of it?

Currently it's much more probably to reach 10 or 100 dollars instead of 10 or 100 millions Cheesy

All holders will have nightmares is next 2-3 month until there is a new high.
1 million is possible in very long-run. 10 or 100 - nope.

I'd say we're pretty far off from the 10-100 dollars honestly. I think in the long run, bitcoin can maybe reach 10k. I don't know if it'll go further in the span of the next year or two. Beyond that, maybe in a few years, we can reach further, but that depends heavily on how blockchain technology is accepted and how governments want to deal with taxes and such. We'll see how it goes.

maeusi

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No, I think, they will create their own virtual currencies, which is as transparent as Bitcoin but centralized, so that they can control their peoples.

pereira4

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Quote from: pinacolada on September 21, 2017, 11:34:07 AM

Bitcoin can reach $100,000-500,000. But $1M and up is impossible. Maybe in 50 years.

It's not impossible. There are tons of trillions out there in stuid stocks, asseets and dead bonds. If some of it came to BTC, it would quickly skyrocket into a trillionare marketcap, pushing the price to $100,000. From now on it's only x10 and you got your $1,000,000 per coin, but governments will attack BTC before accepting inevitable defeated.

Febo

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Quote from: muenze on September 13, 2017, 06:54:01 PM

So if Bitcoin goes to $1m or $10m or $100m a coin.... And becomes a giant world currency...

Wouldnt there be quite the HUGE interest by govs of US, russia, china to own huge parts of it?

It can not be worth $100 millions as of today's value. It just cant. It could be worth $1 million. But not that soon. And I am sure when it will happen you will be able to afford for a $1 million way less then you can today.

muenze

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Quote from: pooya87 on September 21, 2017, 10:58:25 PM

why would government(s) want to own bitcoin, huge part (..) of it?

Because money is power. Lets say the world uses bitcoin for everything, everyone pays their bills with it, their purchases... The more a government owns the more power they have, and they can also influence the price. Which can help their economy if they want to make things cheap or expensive. Like china has been already doing with yen/usd by de-valueing their own currency, they make exports cheaper, which helps them against US businesses and other competition. So the more Bitcoin china owned would actually do give them control over some things, as the bitcoin price.

talkbitcoin

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All I know is that I know nothing.

the question is not "if" it is "when".
and also when bitcoin reached a high price you should wonder if they can afford entering to "own huge parts of it" as you put it. by then bitcoin will be distributed well among the people and those early adopters with strong hands will have a good steak.

when we are not yet at $1 mil you can afford to be 1 in a million not when it was so expensive in the future.

Fortify

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If you consider it like gold, then of course governments would want a piece of the action. However, those governments have every power to stop it reaching those heights. Unless they start to requisition bitcoin off their own people, they will have to buy it at the going market rate and it will be decades before that is a reality.

piloder

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Quote from: muenze on September 13, 2017, 06:54:01 PM

And becomes a giant world currency...

Wouldnt there be quite the HUGE interest by govs of US, russia, china to own huge parts of it?

When price will be anything near $100k there will be huge interest from US specially to crack it down or atleast limit the use of bitcoin in their country because it will be a big threat to their existing financial system full of debt.

China already got frightened and now imposing lots of limitation on bitcoin trading or might even ban bitcoin completely.

pooya87

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Quote from: muenze on September 13, 2017, 06:54:01 PM

And becomes a giant world currency...

Wouldnt there be quite the HUGE interest by govs of US, russia, china to own huge parts of it?

why would government(s) want to own bitcoin, huge part or small part of it? and why would they do it when price was high?
for control? they can not control a decentralized bitcoin ever. they can delay its adoption and growth, they can damage its reputation to some point but never fully and never control.
for profit? then why not invest in other things? bitcoin is not the only profitable thing in the world and it wouldn't be the first thing to be worth $100,000-$300,000-....

DaMut

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Quote from: BigBoy89 on September 14, 2017, 02:46:16 PM

Quote from: muenze on September 13, 2017, 06:54:01 PM

And becomes a giant world currency...

Wouldnt there be quite the HUGE interest by govs of US, russia, china to own huge parts of it?

Currently it's much more probably to reach 10 or 100 dollars instead of 10 or 100 millions Cheesy

All holders will have nightmares is next 2-3 month until there is a new high.
1 million is possible in very long-run. 10 or 100 - nope.

i would like to know when will it be ?
will reserving a ton of cash to buy it under $100 or lower than that.
i do not know that you are joking or talking about it seriously but $10~100 more likely it will not happen.
the best we can go so far if they are completely forbid it should be around $500,flash crash and then stabilize around $1000 before slowly declining around $500~1000.
but $10~100 it's more like a dream instead of target in my opinion.

$1 Million dollars,we can see it if Fiat has no value in the future and replaced by Bitcoin and others.
but for now ? it is impossible and at max we can see round $100.000 or around that,

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