Topic: What will be the price of bitcoin when it has almost reached everyone as fiat? (Read 989 times)

Well I don't think the price of the bitcoin will be a problem anymore. Because people will use the currency ass it is and they won't compare it with some other currency. It will be like having USD and EUROS at their own rate at different quantities with same value.

These moon threads do make me laugh  The thing is they are just as bad as the doom and gloom troll fest threads, but because people want to believe they will believe. The whole will never have bitcoin as the main currency but... Bitcoin has led the way to the future imho and the new world government will have something very similar something like credits with a chip so they say.

Indeed.  If bitcoin becomes a unique world fiat replacement, and is used in the same way (velocity of money similar), then that's the obvious outcome.

However, it is impossible, for technical reasons already.  Bitcoin currently is limited to about 7 transactions per second because of the block size.  This can be altered.  But Visa/mastercard alone already processes 1000 times more.  I'm not sure that a 1000 times bigger block chain/block size/.... can be handled in the same way by the bitcoin network.  The confirmations are also too slow to be used for daily normal money use.  Bitcoin wasn't even considered that way.  Bitcoin is interesting for store of value, or abroad payments, and it seemed interesting for anonymous and private payments, but it turned out to be too weak for that, when looking what happened to silk road.  

Second, if bitcoin is succesful, why wouldn't altcoins take a market share ?  After all, there are serious difficulties with the bitcoin protocol, such as too little privacy and anonymity, which can find better solutions in altcoins.  

Third, the bitcoin economic model is based upon mining seigniorage about equal to spending on hardware and electricity consumption.  If bitcoin rises to these values before sufficient halvings, mining will take up a significant part of all hardware and electricity consumption of the world production.

All this makes that it seems rather naive to think that bitcoin will replace a significant part of the fiat money market by itself.
If bitcoin replaces a few percent of that market, that is much more realistic.  Then we are in the few tens of thousands of $ value.

So still a factor of 100 - 1000 to go.  More, seems naive.

Reply to OP

Storing value is vital in money for future spending. Although we are supposed to be consumers and not save so that we remain debt slaves in fiat system. In reality you might want to reserve your spending power for some future purchase instead of borrowing at interest, at least thats what I want in my money.

Even in the most optimistic scenario, I don't think this is possible. Just look at google. YOu'd think google owns search, but they take a surprisingly (at least to me) small % of all searches. There's no way anything can take a 100% market share. Unless you're forced to use something by a dictator

Yeah, you're right. Storing value is a very important feature.

But to a certain extent it belongs in the same category as investments as most of the times value is stored with the intention to realize gains. (price going up)

Store of value ?

Bitcoin will function just as optional payment/investment option. It won't replace or come even close to fiat currency. Bitcoin is unique in its own way.

Bitcoin won't be Bitcoin if worldwide acceptance happens.

A new coin would be launched with improved functionality, and with some billion of coins, not only 21M.

Bitcoin would be like steam machines are compared to modern industrial stuff, that is, either worth 0 or valuable as some kind of antique

it won't happen. stop dreaming. this is pure nonsense. we must be happy with the price reaching $5000 within 20 years. governments will at some point create their own digital currency.

It will be as in the same dimension as fiat. People and companies will see bitcoin as a part of the economy. It will be used as a day to day currency. The market relationship if BTC-USD will be like USD-POUND relationship.

i don't think such value is ever possible before the fees of miners, otherwise they will dump billion everyday without caring at all

many people will also become rich, because even 1kk satoshi would mean holding 40000 usd basically and faucets will be stormed

In my eyes, at most maybe $4,000 in 2 years if a etf pass.

or something dramatic happens for bitcoin. or coinbase going public.

I`d be in the ground, but hopefully my grand children can enjoy my wealth and be not stupid to blow on lapdances, and escorts.

If bitcoin even reached $1,000 right now, its a huge help. Like anyone holding 50 btc, thats already a house in las vegas 2 bedroom, 2 bathroom in a decent area.

The problem is that bitcoin competeing with a credit card, is another mistake if that its route.

To anyone if they see no difference on the benefit, outside from losing a wallet that had your credit card, whats the perk?

It will be ridiculously high, it's fun to speculate with that but we'll probably be dead by the time that happens. I like to speculate with realistic scenareos such as the one proposed by the Winklevoss twins. On their thesis, BTC has the potential to be the nº1 electronic transaction in the world, effectively surpassing visa, mastercard, paypal and the rest, which would put the marketcap on the trillions, and with a BTC of around 350K USD.

What do you speculate the price of bitcoins to be when it has reached all the parts of world and people adopt to it as a replacement for fiat throughout the world?

world gdp= 75 trillion$

competitively bitcoin

 21 million btc = 75 trillion$

1 btc= 3,571,428.57 USD

It may take a long while as the current and the newer generations accept it, what do you think?