Even if we assume that Bitcoins were never lost, the final value wouldn't be 21 million either. Bitcoin's supply decreases exponentially and the theoretical maximum value of 21 million will never be reached due to the smallest denomination being
a satoshi.
Remember, if everybody seems rich, then no one is rich. Barring something like a mass adoption happening, a 500K Bitcoin would mean something like a 10 trillion market cap. Bitcoin would have to be having a great demand in the first place.
Topic: There are not even 21M BTCs, I'd say max.17M BTCs available at a given time - page 2. (Read 295 times)
May 27, 2021, 05:26:24 PM
May 27, 2021, 04:37:51 PM
people will dream for $40K per BTC in the future.
Just like the scene that we have today, people should've bought when bitcoin was around $3k. As for the possible normal price of bitcoin of $500k in the future will have a lot of factors that will contribute on it. What we're seeing is like the start of it. And we have cycle for halving and that's more of the most contributions that we're going to have for that valuation to come. It's true that even owning 1 BTC out of the circulation is already a wealth that you can hold and hope for in the future and this concept is what I'm following. May 27, 2021, 04:14:58 PM
What many people forget is that many bitcoins were already lost, some aren't mined yet and others will be lost in the future.
So scarcity is a great factor, but 21M Bitcoins is not even the true number, we will probably never have more than 17M active coins at a given time for >8 billion people! Imagine what owning 1 single BTC will mean in the next years, owning a single Bitcoin will mean a lot, it's gonna be huge. There are >51M people who are millionaires right now, they won't even be able to own 1 BTC each. So having values like $500K per BTC will seem pretty normal, people will dream for $40K per BTC in the future.
So scarcity is a great factor, but 21M Bitcoins is not even the true number, we will probably never have more than 17M active coins at a given time for >8 billion people! Imagine what owning 1 single BTC will mean in the next years, owning a single Bitcoin will mean a lot, it's gonna be huge. There are >51M people who are millionaires right now, they won't even be able to own 1 BTC each. So having values like $500K per BTC will seem pretty normal, people will dream for $40K per BTC in the future.
Considering bitcoins that are being lost day by day I assume that BTC is already a deflationary asset. Every 5 seconds someone in the world dies ... "Today, more than 21.2 million adults, or about 14% of the U.S population, own cryptocurrency such as Bitcoin or Ethereum" https://finance.yahoo.com/news/study-reveals-crypto-biggest-investors-132102315.html
It means that every hour 120 people who owns crypto dies ... Well maybe less than that because of determinants of age groups. How many of them didn't tell their relatives priv keys to every single wallet they own? I feel like most of them. Does your wife, parents, kids have access to all your hot/cold wallets? I think that every single crypto owner takes a little bit of crypto with him to the other world. This numbers are huge.
May 27, 2021, 03:50:24 PM
You mean when all Bitcoin are already mined? Yes, there can not be 21 million Bitcoin, some are lost already truly. And any Bitcoin lost forever is a gain for those having the one not lost, because the reduction in circulatory supply, the higher the price. Although the limited supply (and lost Bitcoin) will help in the price valuation, but also increasing demand will be the another major factor to increase the price. As more people know more about bitcoin, they will buy and the price will increase.
May 27, 2021, 03:38:40 PM
What many people forget is that many bitcoins were already lost, some aren't mined yet and others will be lost in the future.
So scarcity is a great factor, but 21M Bitcoins is not even the true number, we will probably never have more than 17M active coins at a given time for >8 billion people! Imagine what owning 1 single BTC will mean in the next years, owning a single Bitcoin will mean a lot, it's gonna be huge. There are >51M people who are millionaires right now, they won't even be able to own 1 BTC each. So having values like $500K per BTC will seem pretty normal, people will dream for $40K per BTC in the future.
So scarcity is a great factor, but 21M Bitcoins is not even the true number, we will probably never have more than 17M active coins at a given time for >8 billion people! Imagine what owning 1 single BTC will mean in the next years, owning a single Bitcoin will mean a lot, it's gonna be huge. There are >51M people who are millionaires right now, they won't even be able to own 1 BTC each. So having values like $500K per BTC will seem pretty normal, people will dream for $40K per BTC in the future.
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