Topic: What would happen if Bitcoin did hit $1m by mid-2020? - page 4. (Read 598 times)
And what will cause Bitcoin to hit 1 million USD in just less than 3 years , taking into consideration the negativity from media , government and financial authorities about bitcoins, I don't think it can reach that price. But if it reaches , either sooner or later, then 1 satoshi can be worth 10 USD.
Obviously if this happens, a lot of new millionaires, billionaires and maybe even trillionaires will be born. Do you think this would have a large impact on society? Would this cause nocoiners to become the new low class? Would prices of every day goods rise? Would Fiat currency even be worth anything? Or would we just have a lot of new money in an otherwise unchanged society?
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
Year 2020 is a long way to go..a lot could happened in just a minute in the crytocurrency world. But i only hope the best for the years to come. No one can actually say for sure what will happened in the future but I have positive thoughts in the coming years for this industry. (Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
Noo of course not , I've many times told you guys that during the process , you'll sell your Bitcoin not even when it's reach $200k , 10x from current price and I believe there would only few people who stick holding Bitcoin , which means there might only 5 -20 new millionaire , the rest of it regretting to sell Bitcoin too early , it's like a loop.
of course there will be many people who own a luxury car and a very grand house. but I'm not sure bitcoin will reach $ 1 million by mid 2020.
Millennials will be the new young millionaires for this generation. Go back to the past and see how many people doesn't believe and it's a question when someone asks if bitcoin would hit $1,000. It may be possible for some and others won't believe, it's hard to say if the prediction would be accurate or not. But if by chance this comes to us
Do you think this would have a large impact on society?
Definitely.Would this cause nocoiners to become the new low class?
Not really, there are no coiners who are rich enough.Would prices of every day goods rise?
If bitcoin hits $1,000,000 then world's economy is likely to get affected but it doesn't mean everyday goods will rise.Would Fiat currency even be worth anything?
Fiat will remain and its worth will be there.Or would we just have a lot of new money in an otherwise unchanged society?
A lot of money from the well known wealthy people will be allocated to the holders. Obviously if this happens, a lot of new millionaires, billionaires and maybe even trillionaires will be born. Do you think this would have a large impact on society? Would this cause nocoiners to become the new low class? Would prices of every day goods rise? Would Fiat currency even be worth anything? Or would we just have a lot of new money in an otherwise unchanged society?
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
If that happen it will really bring out so many millionaire and Billionaires all from crypto currency and if that happen, so many people will regret for not buying Bitcoin or investing in crypto currency before the skyrocketed of the value of Bitcoin. (Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
Obviously if this happens, a lot of new millionaires, billionaires and maybe even trillionaires will be born. Do you think this would have a large impact on society? Would this cause nocoiners to become the new low class? Would prices of every day goods rise? Would Fiat currency even be worth anything? Or would we just have a lot of new money in an otherwise unchanged society?
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
In my opinion there are only two ways in which this could happen, in the first the scenario we will be in the biggest bubble of all time where money from many different industries is diverted to bitcoin and other cryptocurrencies, at that point you should expect a big crash that will probably destroy the economy of the world, the second scenario is that the economy first enters in a crisis, then governments begin to print currency as fast as they can and then bitcoin begins to gain value very rapidly since now there is more money chasing after it, in this case the economy also crashes but now bitcoin is not the cause. (Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
For start I think it's completely unrealistic that something like that happens in next 2 years, and even if BTC reach that price for how long it will stay there since nobody will hold, but just try to sell it as soon as possible. Imagine miners find block and earn 12,5 million $ for that, that will be insane...
In that scenario, the hashing power required to find a block will be enormous. Mining has become industrialized now and if the price increases further, the extent of industrialization would increase too. It would only be a mining pool that finds the block reward, and the $12.5Mn would be split between all the members of the pool. So the individual contributors to the pool would probably receive an amount which is not very different from what they do today.
For start I think it's completely unrealistic that something like that happens in next 2 years, and even if BTC reach that price for how long it will stay there since nobody will hold, but just try to sell it as soon as possible. Imagine miners find block and earn 12,5 million $ for that, that will be insane...
Most of crypto community would be very happy with a one 0 less in year 2020, so 100 000$ per BTC would be great price, and because of that I more belive in Tim Draper prediction when he say 250 000$ by the 2022.
Too fast growth can only harm BTC, but most people just want to profit from cryptocurrency - If you ask users simple question : "Do you want to BTC hit 1 million $ and stay there few days, but after that game is over?" I believe that the majority will said yes, so only looking in price is wrong way of thinking.
Most of crypto community would be very happy with a one 0 less in year 2020, so 100 000$ per BTC would be great price, and because of that I more belive in Tim Draper prediction when he say 250 000$ by the 2022.
Too fast growth can only harm BTC, but most people just want to profit from cryptocurrency - If you ask users simple question : "Do you want to BTC hit 1 million $ and stay there few days, but after that game is over?" I believe that the majority will said yes, so only looking in price is wrong way of thinking.
what will happen is the pleasure of everyone or the user seeing the price reach its peak, but I do not think that will happen, dude. look, the recent decline. do you think it's potentially good for 2020 later? certainly not, is not it! according to me in the year 2020 the price will be normal and only increased slightly, but at least it will be better. too early to discuss the price will reach $ 1 million during such situations.
Taking the prediction of McAfee seriously?
That's given that millionaires and billionaires will come out and will take over the media and will tell on how it is great to become that wealthy through bitcoin.
If that prediction will happen then bitcoin will be like a way to distribute the wealth of the elites to the people who owns it.
That's given that millionaires and billionaires will come out and will take over the media and will tell on how it is great to become that wealthy through bitcoin.
If that prediction will happen then bitcoin will be like a way to distribute the wealth of the elites to the people who owns it.
...
$1m per coin in just 2 years would mean there are a lot of problems in the world economy and that a million wouldn't be worth much imo.
1 million in 15-20 years would be some kind of natural growth where I assume it would be worth something. But such a value in 24 months would be a catastrophe. So I'm talking about very strong inflation here. Therefore Bitcoiners wouldn't be the new super rich class.
$1m per coin in just 2 years would mean there are a lot of problems in the world economy and that a million wouldn't be worth much imo.
1 million in 15-20 years would be some kind of natural growth where I assume it would be worth something. But such a value in 24 months would be a catastrophe. So I'm talking about very strong inflation here. Therefore Bitcoiners wouldn't be the new super rich class.
Interesting post!
However, we really have no idea how Bitcoin will react to a serious financial crisis in the real world.
It was founded after the financial crisis of 2008 and therefore has not been around during a real
recession.
Many people believe that the next financial crisis will be much worse than the last one, because the problems of the financial
crisis of 2008 were never really solved and central banks around the world intervened to an unimaginable extent.
Obviously if this happens, a lot of new millionaires, billionaires and maybe even trillionaires will be born. Do you think this would have a large impact on society? Would this cause nocoiners to become the new low class? Would prices of every day goods rise? Would Fiat currency even be worth anything? Or would we just have a lot of new money in an otherwise unchanged society?
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
$1m per coin in just 2 years would mean there are a lot of problems in the world economy and that a million wouldn't be worth much imo.
1 million in 15-20 years would be some kind of natural growth where I assume it would be worth something. But such a value in 24 months would be a catastrophe. So I'm talking about very strong inflation here. Therefore Bitcoiners wouldn't be the new super rich class.
Obviously if this happens, a lot of new millionaires, billionaires and maybe even trillionaires will be born. Do you think this would have a large impact on society? Would this cause nocoiners to become the new low class? Would prices of every day goods rise? Would Fiat currency even be worth anything? Or would we just have a lot of new money in an otherwise unchanged society?
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
This are all speculations right now, but if this will really happened in year 2020, everything will increase too.. the profit as will as the price, Im thinking that this has both positive and negative implications because by then the price will b3 too much for a wanna be investors. A common person might not be able to afford unlike now even if it is high but it can still be possible for middle class individuals to invest. (Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
Obviously if this happens, a lot of new millionaires, billionaires and maybe even trillionaires will be born. Do you think this would have a large impact on society? Would this cause nocoiners to become the new low class? Would prices of every day goods rise? Would Fiat currency even be worth anything? Or would we just have a lot of new money in an otherwise unchanged society?
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
$1m per coin in just 2 years would mean there are a lot of problems in the world economy and that a million wouldn't be worth much imo.
1 million in 15-20 years would be some kind of natural growth where I assume it would be worth something. But such a value in 24 months would be a catastrophe. So I'm talking about very strong inflation here. Therefore Bitcoiners wouldn't be the new super rich class.
Bitcoin reaching 1million USD will make current users of bitcoins whose main trading strategy is to hold become millionaires and this will bring new entrants into the field of cryptocurrency. But I think it is not possible since we have only 2 years to reach 2020 and considering the current price trading even less than 10,000 usd.
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If Bitcoin did hit 1M$ by mid 2020 like what Mcafee predicted...
Mcafee credibility is being questioned
John McAfee-Endorsed ICO Apologizes For Plagiarizing Content From Blockchain Taxi Platform
then we should not take his prediction seriously.
OP is impossible to reach this price in a short space of time, not even reach the $ 30,000 and we are already dreaming of more than $ 30,000? I think we'd better be realistic.
I actually saw him recently on a Youtube video saying that his prediction was short again and that it could hit $5 million by 2020. It was basing it on the increase in the number of users. But he never said anything about his dick again.
Either McAfee is nuts or if he is right, and bitcoin reaches at least $1 million, he will be known and remembered as a visionary.
Obviously if this happens, a lot of new millionaires, billionaires and maybe even trillionaires will be born. Do you think this would have a large impact on society? Would this cause nocoiners to become the new low class? Would prices of every day goods rise? Would Fiat currency even be worth anything? Or would we just have a lot of new money in an otherwise unchanged society?
(Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
That is a very difficult thing to achieve, but look at that is always a lot of miracles about crypto. Looking at the current conditions then a very high price increase will make the owners of Bitcoin will become rich. They will have more wealth than anyone who does not know Bitcoin. Directly then the state of the world economy will be greatly influenced and it will make the conditions become very changeable. It could be that crypto takes over most of the world's finances. Fiat will still exist, but the impact will not be too big. The power of the world economy could change very quickly if it all happened. (Hopefully) obviously, this post is purely hypothetical and in reference to John McAfee's prediction.
If Bitcoin did hit 1M$ by mid 2020 like what Mcafee predicted...
Mcafee credibility is being questioned
John McAfee-Endorsed ICO Apologizes For Plagiarizing Content From Blockchain Taxi Platform
then we should not take his prediction seriously.
OP is impossible to reach this price in a short space of time, not even reach the $ 30,000 and we are already dreaming of more than $ 30,000? I think we'd better be realistic.
It's hard but not impossible. Remember that Bitcoin grows exponentially, and exponential movements are often not considered as realistic in Bitcoin terms...
Not a long time ago, $20,000 predictions were considered "insane". Traders like Tone Vays were predicting $7500 as best case scenario.
The fact that McAfee is a shady figure doesn't mean his model is incorrect. You can check his model in a graph here:
https://bircoin.top/
So we are on a good track, going up and down the curve, as long as we are near it, McAffee's prediction isn't far fetched.
If we keep going down the divergence may be to good to get there on time, unless we see a massive pump.
If Bitcoin did hit 1M$ by mid 2020 like what Mcafee predicted...
Mcafee credibility is being questioned
John McAfee-Endorsed ICO Apologizes For Plagiarizing Content From Blockchain Taxi Platform
then we should not take his prediction seriously.
OP is impossible to reach this price in a short space of time, not even reach the $ 30,000 and we are already dreaming of more than $ 30,000? I think we'd better be realistic.
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