When 21BTC = $1,000,000. If | Bitcointalksearch.org

jc89

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Quote from: Minecache on May 26, 2017, 03:10:32 PM

Predicting a state of economic value. When. If.

If 1 BTC = 47619.0476 USD.

At our current rate, this is very far from it. However, Bitcoin always surprises us. If Bitcoin continues to double its value within a year, then we might see this in reality after about 4-5 years. Or maybe we will see that earlier that I anticipated. Who knows, right? All are just speculations and nobody is certain.

Pente

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Wish I had 21 BTC, then I could dream about 21 BTC = $1 Million too

freedomno1

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Learning the troll avoidance button :)

Quote from: Minecache on May 26, 2017, 03:10:32 PM

Predicting a state of economic value. When. If.

Seems like a fun prediction well 21 BTC is now $63,000 was $21,000 back in 2013.
But now to 1,000,000 we are only 6.3% to the goal so I would say about the time it takes for an asset to hit the mainstream adoption cycle it should be about double this to hit another tipping point so I'll go with 2019 to 2022 assuming no serious issues
https://image.slidesharecdn.com/liftpresentationronmarch192013-130326141145-phpapp01/95/innovation-and-the-scurve-10-638.jpg?cb=1364307293

andrei56

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Quote from: pealr12 on June 04, 2017, 09:12:00 AM

Only time can tell, but that scenario has a big chance that it will happen someday. And 21btc is already millions here in my country,cant wait to see that 100btc is already billions here in ky country.

That is the best part, many use the dollar as a measure stick that bitcoin needs to measure but if you are in another country then bitcoin can buy even more since in other countries the cost of living is a lot cheaper than the cost in the US.

sasaku bitbit

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Quote from: Farcoin12 on May 31, 2017, 04:47:02 AM

Quote from: Bitcoinaire on May 29, 2017, 05:14:50 PM

Sometime in 2018.

Yeah naaahhh. That is definitely not going to happen. The price just took a huge hit and definitely hasn't bounced back yet. Also, if we wanted 21 Bitcoin to be worth 1 million dollars, then it would have to shoot up at a really high rate. Meaning that it would probably just crash back down. It definitely isn't going to happen in 2018.

I agree with your opinion it is true if we want to be worth Bitcoin 21.1 million dollars, then it will have to shoot at a very high level. That means that it's probably just going to crash down. It's definitely not going to happen in the year 2018. and will make the disappointment many users

Optimiza

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In 2017-adjusted dollars, I think there is a very good chance for bitcoin to be worth that much if it can retain substantial market share among competing crypto-currencies, which is very plausible. I am betting that Crypto currencies and crypto economy will be a substantial part of the future finance and economy, overall it may be eventually worth trillions (adjusted for inflation) and bitcoin is the main player in it so far.

In nominal dollars, I have a trillion dollar paper note from Zimbabwe. This is what happens to all fiat currencies. Judging by the exponential rate in debt and dysfunction that time the dollar and all fiats will start hyperinflating will not be long, I think it could well happen in a decade. If bitcoin only innovates and community makes survivalbe decisions, then it is possible each bitcoin could be worth millions of dollars or more in a not too distant future; but millions may not mean much by then.

Denker

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Quote from: mindrust on May 31, 2017, 02:06:15 PM

We are going nowhere without solving the scaling issue. Bitcoin has zero chance to reach 50k if it doesn't solve it.

People are desperately trying to use bitcoin in their daily shopping, in restaurants, in coffee shops yet it is getting impossible to make a transaction with every day bitcoin gains value.

When a bitcoin becomes 50k$, to make a 10$ purchase, you'll need to pay 0.0002BTC. Have you ever tried to send 0.0002BTC nowadays?

SegWit is coming my friend! Don't you follow the news?! August the 1st will be Bitcoin's Independence Day!
And with SegWit, Schnoor, MAST and second layer implementations like Lightning will follow.
So I don't see any big scaling issue for the near future.
Therefore the price will rise. And will fall again. And repeat that cycle again and again and again for many many more years. Grin

Maheshkumar_Hrangkhawl

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I guess sometime in 2020 or 2021, if everything goes according to our plans. But if something goes wrong, such as a hack in some of the major exchanges, ban in China.etc, then I am afraid that we may never witness these levels.

Question123

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I think 21 bitcoin is not enough to millionaire or to get $1 million because you have 21 bitcoin the price will be needs $50,000 and thats very impossible to happen. Maybe the price of bitcoin the highest only os $20,000 .if you have 50 bitcoin they have possiblt to have $1 million dollars but you need to wait because the price after many years will become stronger and popular to whole world.

timmyp

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If the current price action continues on a logarithmic scale we should see $50k in 2018.

Here is an interesting spreadsheet I found online:
https://docs.google.com/spreadsheets/d/16Wl2UNQ5KMH26hG0Pta0kV7AptPvZVTykVnqFdUerpw/edit#gid=0

cellard

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Quote from: Minecache on May 26, 2017, 03:10:32 PM

Predicting a state of economic value. When. If.

Somewhere during Trump's mandate, the bond market is going to crash, and boomers which have been saving billions worth of retirement money on there, will be forced to dump their portfolios. A small % of that money going into bitcoin could start a cascade of capital fleeing into the market that could make bitcoin reach 7 figures. So somewhere in the next 8 years we are going to see an huge pump.

pealr12

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Only time can tell, but that scenario has a big chance that it will happen someday. And 21btc is already millions here in my country,cant wait to see that 100btc is already billions here in ky country.

Mr.grin

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Well, 21 btc may be too little to arrive at a $ 1 million price. Maybe at that moment, bitcoin really needed, and very step. If bitcoin prices are high like that, it will be very difficult to find it, but I hope bitcoin is still easy to find, and I think it will happen in 2020 or more.

andrei56

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Quote from: mindrust on May 31, 2017, 02:06:15 PM

We are going nowhere without solving the scaling issue. Bitcoin has zero chance to reach 50k if it doesn't solve it.

People are desperately trying to use bitcoin in their daily shopping, in restaurants, in coffee shops yet it is getting impossible to make a transaction with every day bitcoin gains value.

When a bitcoin becomes 50k$, to make a 10$ purchase, you'll need to pay 0.0002BTC. Have you ever tried to send 0.0002BTC nowadays?

If bitcoin reach that price then we will not use bitcoin to buy anything so cheap, it is like trying to buy something for 1 cent with a hundred dollar bill, no one in his right mind will do that, you will pay with a quarter or at worst with a dollar, so if bitcoin reached that price we will use another coin to buy something like that.

Asrael999

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Quote from: jtipt on May 31, 2017, 10:30:39 AM

Quote from: Minecache on May 26, 2017, 03:10:32 PM

Predicting a state of economic value. When. If.

We are not even one-tenth the way there as of now. Now any speculation on this would be completely guessing, there is absolutely no way we can predict when BTC's price will increase 20 times, that's just too much. All we can say that it will happen in near future, lets leave it at that.

Bitcoin was 1/25th of its current value as recently as 7/2013, less than 4 years ago. I would not bet against a 25 fold rise in the next four years. Current wallets are what 15 million, 25x is 375million, so roughly 5% of the global population using Bitcoin

mindrust

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We are going nowhere without solving the scaling issue. Bitcoin has zero chance to reach 50k if it doesn't solve it.

People are desperately trying to use bitcoin in their daily shopping, in restaurants, in coffee shops yet it is getting impossible to make a transaction with every day bitcoin gains value.

When a bitcoin becomes 50k$, to make a 10$ purchase, you'll need to pay 0.0002BTC. Have you ever tried to send 0.0002BTC nowadays?

Asrael999

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Quote from: 19Nov16 on May 31, 2017, 01:11:06 AM

Used by many countries will affect the price of the bitcoin, if China, Rusia, USA, the European Union and many countries officially legalize bitcoin then price 21BTC = $1,000,000 is looks easy to reach.

Just to help you understand the way the legal system works in the UK, US and the EU at least...
If something isn't actually ILLEGAL it is actually officially LEGAL by default. We make laws about things to make them illegal - we make things legal by repealing the laws that made them illegal in the first place. Bitcoin is already Legal in the UK, US and EU

wuvdoll

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Quote from: ArdiPrabowo on May 31, 2017, 10:47:18 AM

only dream is never real
this mean 21 bitcoin = one millin, equal 50k dollar, if bitcoin price reach 50k dollar is many problem can accident, the first about very high sending fee

But this is not going to happen tonight or tomorrow morning. It will take some time frame and with those time gap we can expect bitcoin transactions fees will be settling down to where it was some times back. Because there are proposals to solve the scalabilty issues so we can expect transactions fees to down down.

When bitcoin will be having value near $50k, I guess bitcoin must have hit the main stream adoptions as many country would have followed Japan for legalizing bitcoin usage.

wowanstrong

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Quote from: ArdiPrabowo on May 31, 2017, 10:47:18 AM

only dream is never real
this mean 21 bitcoin = one millin, equal 50k dollar, if bitcoin price reach 50k dollar is many problem can accident, the first about very high sending fee

Generally speaking, Nobody prevents anyone from dreaming. It seems to me that within a few years such a dream is possible and will come true but I do not know how much true forecasts as to how the root can rise and how much it costs. I've even met with talk about the fact that one Bitcoin can also cost 1million dollar But how realistic is this?

ArdiPrabowo

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only dream is never real
this mean 21 bitcoin = one millin, equal 50k dollar, if bitcoin price reach 50k dollar is many problem can accident, the first about very high sending fee

jtipt

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Quote from: Minecache on May 26, 2017, 03:10:32 PM

Predicting a state of economic value. When. If.

We are not even one-tenth the way there as of now. Now any speculation on this would be completely guessing, there is absolutely no way we can predict when BTC's price will increase 20 times, that's just too much. All we can say that it will happen in near future, lets leave it at that.

Inkdatar

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We cannot really predict the bitcoin price in the near future. Maybe depends on the demands and supply in the long run that it will acquire in this price. So, lets just observe on the next that might happen.

Farcoin12

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Quote from: Bitcoinaire on May 29, 2017, 05:14:50 PM

Sometime in 2018.

Yeah naaahhh. That is definitely not going to happen. The price just took a huge hit and definitely hasn't bounced back yet. Also, if we wanted 21 Bitcoin to be worth 1 million dollars, then it would have to shoot up at a really high rate. Meaning that it would probably just crash back down. It definitely isn't going to happen in 2018.

YuginKadoya

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Quote from: AjithBtc on May 29, 2017, 10:51:22 PM

21 btc = $1000,000 seems to be possible, but we cannot have a perfect prediction on the time. Because recently too the blockchain CEO revealed his own prediction based on the price analysis from the beginning of the days. His prediction stated that a single coin might go as high as $50000. Let's hope the best to happen.

Right now 21 BTC is equal to $46,458.51 dollar and 1 BTC is $2212.31 dollar as of now.
And base on the prediction of Blockchain CEO it can surely happen reaching the $500,00 in the future is possible but we can really never knew when and how bitcoin would do that, because the increase in the value of bitcoin is dependent on the so many aspects and knowing the aspect of how it can increase is a big thing to ready ones self.

Le Happy Merchant

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Quote from: ImHash on May 30, 2017, 12:15:08 AM

Quote from: Bitcoinaire on May 29, 2017, 05:14:50 PM

Sometime in 2018.

21*2300=48300 in 6/2017.
With current difficulty level you could mine a bitcoin with an estimated $1000 cost per coin.
Whenever it costs $35000 to mine a coin then we could see a price around $48000.
With a wild calculation, when difficulty increases at least 30 times of the current level is when 21 bitcoins worth $1,000,000.

Not to be overly precise, but the goal of $48000 is only ~21 times the current price you quoted of $2300.

ivanst776

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Quote from: Minecache on May 26, 2017, 03:10:32 PM

Predicting a state of economic value. When. If.

Next decade (maybe). The difference between 21 bitcoins now and 21 bitcoin worthing $1M is very huge. From this year I don't expect the price to brle more than $3,500 - $4,000.

The speculation are getting higher and higher because of the recent pump which made people think that bitcoin can reach 10k very soon!!

There are many factors that affects directly the price such as the acceptance of countries and the popularity of bitcoin.

worldmain

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Totally depends on how fast each country legalize it. May be in 5 years time

Supercrypt

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Quote from: ktabb on May 29, 2017, 09:28:50 PM

Quote from: Minecache on May 26, 2017, 03:10:32 PM

Predicting a state of economic value. When. If.

So just under $50k per bitcoin, almost 25 times what it is now... that would require a market cap of something like $875 billion, a little more than $AAPL stock. I think that is possible but not in the current bubble we are in right now. Maybe if we see another bubble in 4-5 years it could hit something close to that. I think this would require an ETF to exist and a lot of new bitcoin investors to pile onto the train. Not impossible though.

25 more times of appreciations does not sound too hard to me. From 2015 January to present times, bitcoin got 10 times appreciations so smoothly (after mtgox issues it reached to $180 to $220 levels and now trading stable around $2200 levels). So, in next 3 to 5 years we can expect similar growth so that we can expect prices to reach $50k too.

There are people who are speculating one million levels for one bitcoins in next 5 years. I am not going to claim which is reasonable as bitcoin prices are seeming out of my prediction scopes.

btcney

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Quote from: Minecache on May 26, 2017, 03:10:32 PM

Predicting a state of economic value. When. If.

When this happens the economy is probably in deep crap. 21 BTC to $1,000,000 roughly equates to $50,000 per bitcoin. I would assume that bitcoin would do very well in economic turmoil as more people switch to this alternative for fiat currency instead of sticking with the fiats.

Bitcoin is a bit like gold in the sense that nobody can exploit the system by printing more and more money non-stop because there is just no way you're going to do this unless you buy lots of expensive equipment. And also this is why you should hold at least 10% of your portfolio in BTC to prepare for a disaster.

HatakeKakashi

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If you have 21 bitcoin and You ask when 21 bitcoin reach 1,000,000 dollars is very possible to happen because they need price of $50,000 per bitcoin so you can get 1 million dollars but it is very possible to happen because my prediction the maximum orice of bitcoin will be $20,000 and they cannot increase more than the amount. But everything is possible to happen but your price is less percent to happen maybe 1 % only I think.

Karpeles

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This is 3 orders of magnitude higher than the current price, so, in logarithm scale, would be the same as a jump from a few dollars to the thousands. Last time the the price was less than $10 was in the start of 2013, then Bitcoin crossed and stabilized above $100 around April this year, or 4 years and 4 months after.
If the pattern repeats, the expectation for 1M should be around the end of 1M.
Of course there is variance and a big if on it, but it is the best guess currently, 4 years is almost half of Bitcoin life

culuuton

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Quote from: 19Nov16 on May 31, 2017, 01:11:06 AM

Used by many countries will affect the price of the bitcoin, if China, Rusia, USA, the European Union and many countries officially legalize bitcoin then price 21BTC = $1,000,000 is looks easy to reach.

Bitcoin is the future of online currency and now it has become viral but it still has to go many ups and down to reach there.

Amph

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Quote from: ktabb on May 29, 2017, 09:28:50 PM

Quote from: Minecache on May 26, 2017, 03:10:32 PM

Predicting a state of economic value. When. If.

So just under $50k per bitcoin, almost 25 times what it is now... that would require a market cap of something like $875 billion, a little more than $AAPL stock. I think that is possible but not in the current bubble we are in right now. Maybe if we see another bubble in 4-5 years it could hit something close to that. I think this would require an ETF to exist and a lot of new bitcoin investors to pile onto the train. Not impossible though.

next halving should be the perfect target for that, assuming we can build the base for that value, right now we are too far away form it, we need first to reach 10k, to go then to 50k with a certain stability

otherwise we are just asking for a pump and dump, which is not good, and get away new investors, if we consider that we increase 10x from 2012 to 2016(200-->1300-->again 200 and now 2k), it should be possible to do 20k by 2020 or more

bitbollo

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Nec Recisa Recedit

Quote from: ImHash on May 30, 2017, 12:15:08 AM

Quote from: Bitcoinaire on May 29, 2017, 05:14:50 PM

Sometime in 2018.

21*2300=48300 in 6/2017.
With current difficulty level you could mine a bitcoin with an estimated $1000 cost per coin.
Whenever it costs $35000 to mine a coin then we could see a price around $48000.
With a wild calculation, when difficulty increases at least 30 times of the current level is when 21 bitcoins worth $1,000,000.

I guess we can see this target around 2020 if the price will follow the hash rate as incremental Grin

Let's take just hash power as variable... As we can see https://bitcoinwisdom.com/bitcoin/difficulty
Every 7 months (more or less) the total hash rate trends to a 100%.

Nov 18 2016 281,800,917,193 10.68% 2,017,209,539 GH/s
May 23 2017 595,921,917,085 6.42% 4,265,775,241 GH/s

Dec 2017 8.000.000 GH/s
Jun 2018 16.000.000 GH/s
Jan 2019 32.000.000 GH/s
Aug 2019 64.000.000 GH/s

Around Feb 2020 we can see 120.000.000 GH/s Huh

19Nov16

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Used by many countries will affect the price of the bitcoin, if China, Rusia, USA, the European Union and many countries officially legalize bitcoin then price 21BTC = $1,000,000 is looks easy to reach.

Kallipso

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Quote from: andrei56 on May 31, 2017, 12:24:54 AM

Quote from: Minecache on May 26, 2017, 03:10:32 PM

Predicting a state of economic value. When. If.

That is close to 48k per coin to be honest I don’t think we will need anything major for bitcoin to happen for bitcoin to reach that price, the world economy will keep going despite a few crisis that will help bitcoin, reaching that price is not as far our as some may think if bitcoin grew something like 10% yearly I suspect it will only take bitcoin 20 to 30 years to reach that price.

Everything can turn out from the night, even vice versa, and the fact is that already very strong professionals in the financial world suspect that even within 5 years Bitcoin can reach 1 Million dollarov. So expressed the president of PayPal.

andrei56

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Quote from: Minecache on May 26, 2017, 03:10:32 PM

Predicting a state of economic value. When. If.

That is close to 48k per coin to be honest I don’t think we will need anything major to happen for bitcoin to reach that price, the world economy will keep going despite a few crisis that will help bitcoin, reaching that price is not as far out as some may think if bitcoin grew something like 10% yearly I suspect it will only take bitcoin 20 to 30 years to reach that price.

dihari

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There will be dilemma in two side of bitcoin price moves extremely. If bitcoin going too cheap, let's said like what you want 21 btc = $1.000.000, I am afraid the whole btc ever created can buy and driven by only one person. And vice versa, if bitcoin prices touching the highest price too fast, everyone chance to invest in bitcoin getting more difficult.

Well, just because this are speculation board, we can't say anything without analyze something.

ImHash

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Quote from: Bitcoinaire on May 29, 2017, 05:14:50 PM

Sometime in 2018.

21*2300=48300 in 6/2017.
With current difficulty level you could mine a bitcoin with an estimated $1000 cost per coin.
Whenever it costs $35000 to mine a coin then we could see a price around $48000.
With a wild calculation, when difficulty increases at least 30 times of the current level is when 21 bitcoins worth $1,000,000.

AjithBtc

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21 btc = $1000,000 seems to be possible, but we cannot have a perfect prediction on the time. Because recently too the blockchain CEO revealed his own prediction based on the price analysis from the beginning of the days. His prediction stated that a single coin might go as high as $50000. Let's hope the best to happen.

ktabb

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Quote from: Minecache on May 26, 2017, 03:10:32 PM

Predicting a state of economic value. When. If.

So just under $50k per bitcoin, almost 25 times what it is now... that would require a market cap of something like $875 billion, a little more than $AAPL stock. I think that is possible but not in the current bubble we are in right now. Maybe if we see another bubble in 4-5 years it could hit something close to that. I think this would require an ETF to exist and a lot of new bitcoin investors to pile onto the train. Not impossible though.

Bitcoinaire

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Sometime in 2018.

Minecache

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Predicting a state of economic value. When. If.

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