The $1 Million Dollar Bitcoin - page 9.

Vishnu.Reang

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Quote from: Cezka on July 24, 2017, 04:05:17 AM

100k bitcoin in 2022

Yeah.. it is possible. Even at $100,000 per coin, the market cap of Bitcoin will be lower than that of other currencies such as the United States Dollar and the Euro. Also, we need to remember that a large fraction (may be up to 15%) of the BTC market cap is "lost", since no one is having the private keys for those coins.

AmiranAbdul

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Bitcoin can not reach such a mark. 10,000,000 is too high price for one coin. The bitcoin grows well, but you still need to adequately assess its capabilities and competing crypto-currencies.

Cezka

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100k bitcoin in 2022

justin86

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Quote from: South Park on January 07, 2017, 05:45:33 PM

The price is not important is what you can buy with it that matters, it does not matter that 1BTC is worth 1 Million dollars if the only thing you can buy with it is a soda, we must look at what we can buy with bitcoin and not only the price.

Very good point but people talk about next 10-20 years so inflation does not matter so much, and the idea is about today's 1 million dollar.

CryptoGeneral

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It is not impossible to reach 1 Million USD, but it is unlikely to happen soon. As previous users pointed out it is more important to have a growing acceptance of Bitcoin. I guess the market will follow then. How high? Moon! Wink

aoihs00

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Quote from: Enjorlas on October 11, 2015, 05:50:25 AM

For 1 Bitcoin to be worth $1,000,000, the total market cap of Bitcoin would have to be $21 trillion dollars. What are the odds of this happening?

For reference, the amount of physical $dollars and coins in circulation are around $1.2 trillion. The global M2 money supply of all currencies are around $45 trillion. The market cap of all mined gold is around $7 trillion.

Will 1 Bitcoin be worth a million dollars? Half a million? Thoughts?

With your stats above it seems to be impossible to happe in any given time. Just look at the figure, if a million goes into with per BTC then that will shook the financial system of whole world. Because the money would be captured in the bitcoin form on virtual machine and it won't be circulating in the nationwide system. This means though we have money but we will be in need to add more due to shortage of handy money. That's crisis Lind of situation.

jk_14

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Quote from: angaper on January 07, 2017, 04:58:55 PM

I would not harbor the hopes of seeing the price of bitcoin at those levels. These last days of high volatility have revealed how easily manipulable and insecure would be to use bitcoin as a store of value. Moreover, I dare say that bitcoin is still an unfinished experiment, a revolutionary beginning of what tomorrow's economy will be.

That is only the case due to the currently low volume of the market. If the financial systems of the world were to actually run through Bitcoin, volatility would massively decrease.
More pressing issues are the long transaction times and the atrocious transaction fees that would follow such a wide adoption, but these would definitely be addressed on the way.

Thus the only real threat would be a crypto-currency that is vastly better than BTC that also becomes adopted at a much faster rate before BTC can solve all scaling issues.

nemagia

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This is a very fantastic assumption that the cot of bitcoin has reached as much as $ 1,000,000. I do not even half a million minds. To do this, it takes a lot of time and that other currencies also increased in price.

Etaurith

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Quote from: Enjorlas on October 11, 2015, 05:50:25 AM

For 1 Bitcoin to be worth $1,000,000, the total market cap of Bitcoin would have to be $21 trillion dollars. What are the odds of this happening?

For reference, the amount of physical $dollars and coins in circulation are around $1.2 trillion. The global M2 money supply of all currencies are around $45 trillion. The market cap of all mined gold is around $7 trillion.

Will 1 Bitcoin be worth a million dollars? Half a million? Thoughts?

There is always a possibility that the will come that it is going to be worth 1 million dollar.
But I personally don't think that it will happen soon.

deisik

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Quote from: Hydrogen on February 21, 2017, 11:47:47 AM

If the dollar was subject to hyperinflation where $1 million dollars were worth what $1,000 is worth now.

That could be the most likely scenario for 1 btc being worth $1 million.

Germans needing a wheelbarrow of paper money to buy a loaf of bread during their era of hyperinflation in the 1920's comes to mind

Although how probable or improbable it is that something similar could happen to the united states is anyone's guess

The hyperinflation in the Weimar Republic was mainly due to the defeat of the German empire in the WWI. Germany had to pay out massive reparations according to the Versailles peace treaty (in gold and raw materials), and these reparations (which Germany couldn't and didn't pay in full) took a heavy toll on its economy. I don't really think we can compare the present situation in the US with those days. The economy of the US is still one of the most powerful in the world, so there are no grounds for such expectations (of massive dollar devaluation)...

But there is always a non-zero chance of civil unrest spreading all over the country

Hydrogen

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If the dollar was subject to hyperinflation where $1 million dollars were worth what $1,000 is worth now.

That could be the most likely scenario for 1 btc being worth $1 million.

Germans needing a wheelbarrow of paper money to buy a loaf of bread during their era of hyperinflation in the 1920's comes to mind.

How probable or improbable it is that something similar could happen in the united states is anyone's guess.

talikila

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Quote from: Enjorlas on October 11, 2015, 05:50:25 AM

For 1 Bitcoin to be worth $1,000,000, the total market cap of Bitcoin would have to be $21 trillion dollars. What are the odds of this happening?

For reference, the amount of physical $dollars and coins in circulation are around $1.2 trillion. The global M2 money supply of all currencies are around $45 trillion. The market cap of all mined gold is around $7 trillion.

Will 1 Bitcoin be worth a million dollars? Half a million? Thoughts?

I think it can not. I only dream 100,000$ for bitcoin but it's too difficult to happen in this digital world for next 10 ten years.

Xester

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Quote from: Fatanut on January 07, 2017, 02:46:37 AM

Quote from: mastica on January 06, 2017, 12:58:48 PM

Remember that the most people at bitcoin are normal people with normal jobs, they cant support bitcoin above big ammounts, only whales and miners would be able to push the price soo high, but why would they do such if no one will be able to buy anymore bitcoin. I do believe bitcoin can reach 2000 dollars at 2030 or before, but this due to the halving and some projects like megaupload be live and became a huge sucess, augur and zec projects live as well, this should make the numbers of bitcoiners to explode and raise maybe 20-40% population.

The price will get pumped this high not necessarily by just a couple of whales. I believe that the price would hit this range if the "normal people with normal jobs" starts buying bitcoins instead. They might not support bitcoin to become that big individually, but if they do it altogether, they might achieve it.

It's not needed that people buy 1 bitcoin or two. They can always buy in small pieces like milliBit or microBit so even the price is high, it's okay.

I don't think at 2030, the price would just be $2000. We're already around $900-$1100. It wouldn't take that long to get to $2000 range.

We need a huge number of the worlds population to join and engage in bitcoin in order for us to reach that price. Even if every single individual buys 0.01 btc each and we have a 100 million number of users in one day then in the market around 1 million bitcoins will be sold. If 1 million bitcoins will be sold in the exchangers in just one day then imagine what will be the price of bitcoin it is sure that there is a skyrocket price in the bitcoins price.

South Park

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The price is not important is what you can buy with it that matters, it does not matter that 1BTC is worth 1 Million dollars if the only thing you can buy with it is a soda, we must look at what we can buy with bitcoin and not only the price.

angaper

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I would not harbor the hopes of seeing the price of bitcoin at those levels. These last days of high volatility have revealed how easily manipulable and insecure would be to use bitcoin as a store of value. Moreover, I dare say that bitcoin is still an unfinished experiment, a revolutionary beginning of what tomorrow's economy will be.

Fatanut

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Quote from: mastica on January 06, 2017, 12:58:48 PM

Remember that the most people at bitcoin are normal people with normal jobs, they cant support bitcoin above big ammounts, only whales and miners would be able to push the price soo high, but why would they do such if no one will be able to buy anymore bitcoin. I do believe bitcoin can reach 2000 dollars at 2030 or before, but this due to the halving and some projects like megaupload be live and became a huge sucess, augur and zec projects live as well, this should make the numbers of bitcoiners to explode and raise maybe 20-40% population.

The price will get pumped this high not necessarily by just a couple of whales. I believe that the price would hit this range if the "normal people with normal jobs" starts buying bitcoins instead. They might not support bitcoin to become that big individually, but if they do it altogether, they might achieve it.

It's not needed that people buy 1 bitcoin or two. They can always buy in small pieces like milliBit or microBit so even the price is high, it's okay.

I don't think at 2030, the price would just be $2000. We're already around $900-$1100. It wouldn't take that long to get to $2000 range.

mastica

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Remember that the most people at bitcoin are normal people with normal jobs, they cant support bitcoin above big ammounts, only whales and miners would be able to push the price soo high, but why would they do such if no one will be able to buy anymore bitcoin. I do believe bitcoin can reach 2000 dollars at 2030 or before, but this due to the halving and some projects like megaupload be live and became a huge sucess, augur and zec projects live as well, this should make the numbers of bitcoiners to explode and raise maybe 20-40% population.

albama

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Quote from: Enjorlas on October 11, 2015, 05:50:25 AM

For 1 Bitcoin to be worth $1,000,000, the total market cap of Bitcoin would have to be $21 trillion dollars. What are the odds of this happening?

For reference, the amount of physical $dollars and coins in circulation are around $1.2 trillion. The global M2 money supply of all currencies are around $45 trillion. The market cap of all mined gold is around $7 trillion.

Will 1 Bitcoin be worth a million dollars? Half a million? Thoughts?

You are kidding? I can not dream bitcoin growing up 2,000$ . Now it's down under 850$ and it will be under 700$ in next days.
Maybe bitcoin will be rising up 1,000$ at the end of this year.

Xester

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Quote from: X-ray on December 12, 2016, 05:19:25 AM

Quote from: robelneo on November 29, 2016, 11:12:16 AM

I don't know if this is possible,if this happen we'll have a lot of rich people here in our community ,my prediction is the highest it could go is $50,000,provided that adoption is continuous and more market for Bitcoin and of course no problem among miners.

Even if it's happening don't guarantee people here will be immediately rich. Maybe most of us are just exchanging the bitcoin because the price rising to $1 Million and none bitcoin left. after price rising we're facing the problem about earning bitcoin is becoming very hard because its value rising. some our source of money maybe using USD to determine how much they're going to pay for our service

That is a sad thing, when bitcoin suddenly hits the price of one million dollars each in an instant and the moment is has surge in price you have zero balance in your wallet. You are right saying that not all will become millionaires since not all of us owns at least 1 bitcoin. But we cannot deny that there will be some who will be included in the list of new millionaires when that happens and I hope to be included in that list.

Xenophoto

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Quote from: Republic of Coin on January 05, 2017, 05:38:49 AM

Quote from: raja2sumi on January 01, 2017, 12:55:39 PM

No its not gonna happen anyway.the price hike will slow down to some extend and in the next years like after 15 years we may see that the price of bitcoins rise upto 1000p dollars and that even happening is very unlikely.

After the recent price rise, I think the $1 m price is possible.

Lol. How about the recent price manipulation that has happened? What has that made you think? Maybe you're talking about the recent price increase that has brought us from $700 to $1.1K. That is just a really really small percentage of the price increase that will take us to the $1M price. Believing that $1M bitcoin is possible just because the price has increased a couple of hundreds is absurd IMHO. That's like believing that you can fly just because you were able to jump.

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