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Topic: The Inevitability of Million Dollar Bitcoin - page 3. (Read 2425 times)

legendary
Activity: 1918
Merit: 1012
★Nitrogensports.eu★
December 25, 2016, 12:20:31 AM
#2
The notion of million-dollar Bitcoin may seem damnably unrealistic, but consider that the cryptocurrency that was trading for pennies in 2009 has now soared to almost $1000 USD. From a dollar to a thousand dollars is a 1000% rise. From a thousand dollars (its current price) to 1 million dollars is also a 1000% rise. Bitcoin has a proven track record of this magnitude of appreciation.

From a dollar to a thousand dollars is not a 1000% rise, it is a 1000x rise (more like a 100,000% rise)
The problem with that analogy is that you are ignoring the base effect. In percentage terms, it is very easy to increase by a large percentage when the initial value is small. There will be hundreds of alt coins which would have increased by the same percentage. But as the market capitalization grows, repeating the increase becomes very difficult.
legendary
Activity: 1008
Merit: 1000
GigTricks.io | A CRYPTO ECOSYSTEM FOR ON-DEMAND EC
December 24, 2016, 09:30:34 PM
#1
When the enigmatic Satoshi Nakamoto gave birth to Bitcoin in January 2009, he had no idea of the cataclysmic, far-reaching repercussions of his innovative solution to the double-spend problem. Although he was neither a superstar programmer nor a superstar mathematician, he whipped up an idea that would change the world.

The notion of million-dollar Bitcoin may seem damnably unrealistic, but consider that the cryptocurrency that was trading for pennies in 2009 has now soared to almost $1000 USD. From a dollar to a thousand dollars is a 100,000% rise. From a thousand dollars (its current price) to 1 million dollars is also a 100,000% rise. Bitcoin has a proven track record of this magnitude of appreciation.

The rise of Bitcoin has been anything but steady and reliable, with the price leaping and plummeting seemingly on the whim of an unfavorable news report, a hacked exchange, an ugly theft, or some nasty news out of China. Nonetheless, the trend has been inexorably upwards, and there is no reason to believe this trend will change. Here’s why …

Full Article Here: https://darknetmarkets.com/inevitability-million-dollar-bitcoin/
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