Topic: When and how will Bitcoin reach a trillion dollar market cap? - page 2. (Read 3668 times)
It can do if banks accept bitcoin and enters a fractional reserve banking phase. You will have loans, bonds, futures and other derivatives. Then the bitcoin sector could be worth a trillion. Not impossible in 2020.
When and how will Bitcoin reach a trillion dollar market cap? iam not sure but actually no one predict it, its depend on situation and progress of the bitcoin of course it will take a long time to reach 1Trillion market cap, i think possibly after 30 years maybe
The CEO from Xapo expects a price of 500 to 1 million dollar per BTC in the next 10 to 20 years. It sounds insane but so did BTC ever reaching 1K back in 2009. If Bitcoin manages to be the #1 worldwide electronic money transaction system it is pretty much guaranteed that we'll see something along the lines, but we aren't used to seeing assets being worth that much "per share" so it creates cognitive dissonance and it makes you think it's impossible, but it isnt.
That is, IF Bitcoin manages to be the #1 worldwide electronic money transaction system.
But recent stats and developements points to a decline in Bitcoin adoption and usage. The trade volumes are significantly down for the past 6-7 months, even with factors such as the Greek crisis. And the Bitpay CEO has said that they have seen a sharp decline in people using their coins to do the shopping.
Nobody could predict when it will happen or even whether it will ever become a reality but I imagine, if it does reach that level, it has fully captured all that market share from existing credit card companies, made some headway in retail over the counter spending while economic collapse has eroded people's trust in paper currency so badly that every single individual will have their own stash of bitcoin. It still has a long way to go but not impossible per se.
I can answer the how: When the pricer per bitcoin x the number of bitcoins that exist = $1,000,000,000,000.
The when is a lot harder to answer, although some people could speculate. For example, if all 21 million bitcoins were mined, the price per bitcoin would need to be just over $47,619. Today, with ~14 million bitcoins mined, the price would need to be just over $71,428.
At $244 per bitcoin today, the market cap is about $3,416,000,000 (so $3.4B...which is kind of astonishing, when I think about it.)
If you don't want to do the math you can find the market cap by day here: https://blockchain.info/charts/market-cap
The when is a lot harder to answer, although some people could speculate. For example, if all 21 million bitcoins were mined, the price per bitcoin would need to be just over $47,619. Today, with ~14 million bitcoins mined, the price would need to be just over $71,428.
At $244 per bitcoin today, the market cap is about $3,416,000,000 (so $3.4B...which is kind of astonishing, when I think about it.)
If you don't want to do the math you can find the market cap by day here: https://blockchain.info/charts/market-cap
I cannot see this ever happening.
Well no one knows the future anyway
The odds are stacked against us in a big way. We have millions of people who heard about Bitcoin and most of it was negative.
Not everyone heard a negative news about it. Most people are being lenient towards it because most people arent a tech guy therefore it would be hard to convince people that you can store your money in form of a virtual coin ( you might want to try to tell it to a 50 year old man and see what his reaction is , I've tried ).
The simple resistance that prevent people from using it would be that most business that accept BTC is accepting FIAT as well so why would they trouble themselves with BTC instead?
We have thousands of people who were scammed or hacked out of coins and who would never touch it again. These people would warn other people against using it and it would just go backwards.
Same thing with FIAT, there are hundreds on robbery happening each day in a city but we dont see that people are looking for an alternatives or encouraging the others to stay away from it. This isnt the problem for it
Then we have the paid shills doing their thing all the time to make Bitcoin look bad.
If you are pointing fingers to the media for exposing bad news about BTC then I wouldnt say that they are paid shills but basically it is in the human natures to get attracted more to a negative news rather than a positive news by which the medias are actually only doing their job in this case
I think some other Blockchain type technology would replace Bitcoin within the next 5 years. This technology will be funded and developed by the banking industry. It would perfectly adhere to all the AML/KYC regulations and it would be 100% non-anonymous and centralized.
Basically I wouldnt even dream of this to happen. Why to trouble themselves to create such things while they are in full control of FIAT still?
I cannot see this ever happening.
The odds are stacked against us in a big way. We have millions of people who heard about Bitcoin and most of it was negative.
We have thousands of people who were scammed or hacked out of coins and who would never touch it again. These people would warn other people against using it and it would just go backwards.
Then we have the paid shills doing their thing all the time to make Bitcoin look bad.
I think some other Blockchain type technology would replace Bitcoin within the next 5 years. This technology will be funded and developed by the banking industry. It would perfectly adhere to all the AML/KYC regulations and it would be 100% non-anonymous and centralized.
It's sad but true... The scammers and hackers and the thiefs have killed most of our chances to fly to the moon.
The odds are stacked against us in a big way. We have millions of people who heard about Bitcoin and most of it was negative.
We have thousands of people who were scammed or hacked out of coins and who would never touch it again. These people would warn other people against using it and it would just go backwards.
Then we have the paid shills doing their thing all the time to make Bitcoin look bad.
I think some other Blockchain type technology would replace Bitcoin within the next 5 years. This technology will be funded and developed by the banking industry. It would perfectly adhere to all the AML/KYC regulations and it would be 100% non-anonymous and centralized.
It's sad but true... The scammers and hackers and the thiefs have killed most of our chances to fly to the moon.
we aren't there by any means, a trillion is 1K billion in the short scale, and we are still at a mere 4B
we need to do a x250, which mean a price of 62.5k, something a bit crazy, that won't be reached before 3 halving at least
an interesting thought by Winklevoss twins that Bitcoin as a payment system will surpass visa+mastercard+amex+ other major payment systems= 400 Billion$ and be in Trillions of dollars https://youtu.be/uEIPzl4Bx5I?t=137 , so primarily it is a point of time when people start switching from these payment processors to Bitcoin, it should reach the average Joe's throughout the world from a Hotdog seller in the US to a peasant in India., thats the time probably Bitcoin will reach a trillion$ market cap.we need to do a x250, which mean a price of 62.5k, something a bit crazy, that won't be reached before 3 halving at least
I wouldn't place much faith in WW brothers, they seam to be easy on words in most cases, but on this one ill give them credit.
There's no reason why bitcoin shouldn't replace most, if not all other alternatives. It's just a matter of time and struggle it will take to get there.
But i must say, expecting prices of 60k+ is a very far dream, and even if it is to happen, it wont be anytime even remotely soon.
cheers
The CEO from Xapo expects a price of 500 to 1 million dollar per BTC in the next 10 to 20 years. It sounds insane but so did BTC ever reaching 1K back in 2009. If Bitcoin manages to be the #1 worldwide electronic money transaction system it is pretty much guaranteed that we'll see something along the lines, but we aren't used to seeing assets being worth that much "per share" so it creates cognitive dissonance and it makes you think it's impossible, but it isnt.
The fiat market cap as of 2010 was around $8.5 trillion (counting only the banknotes and coins, and not taking in to account the treasury bonds and other formats). This has been doubling every 10 years or so. So by 2020, we can expect $17 trillion, by 2030 some $34 trillion, $68 trillion by 2040, and close to $140 trillion by 2050. If Bitcoin can have a 1% share, then we'll reach the market cap of $1 trillion by 2050. If some miracle happens, and somehow Bitcoin gains a 10% market cap, then it can happen even before 2020. 
i think it's reasonable to see the bitcoin market cap at around $50-$60 billion at peak. don't think it will ever go above $100 billion. that's just not realistic.
I'm not saying you're wrong, but give us thorough and detailed reasons why you think that.
Well, a trillion is about 333 times of the current market cap. To reach such highs, their must be a collapse of the fiat money system IMHO.
we aren't there by any means, a trillion is 1K billion in the short scale, and we are still at a mere 4B
we need to do a x250, which mean a price of 62.5k, something a bit crazy, that won't be reached before 3 halving at least
agreewe need to do a x250, which mean a price of 62.5k, something a bit crazy, that won't be reached before 3 halving at least
it will take a long time to reach 1Trillion market cap, possibly after 2020 but we can't expect this in short period
I read one of the article in internet, which predicted that 1 bitcoin equals to 1 million dollar USD, after 30-40 years
i think it's reasonable to see the bitcoin market cap at around $50-$60 billion at peak. don't think it will ever go above $100 billion. that's just not realistic.
Maybe we can reach near that once Bitcoin cannot be mined anymore
Unless that you are not aware, the entire suppy of BTC will be mined at 2140 ~. That would take another 100+ years to get there and after the entire suppy is mined, miners will need to run their ASIC in order to get the block for confirmation (fee mining)
I expect it to happen within 15 years along with world-wide mass adoption of Bitcoins, what do you guys think?
Basically demands would be the only solution for this, in the end the basic law would be use for this which is Supply vs demands. It will be sooner than expected depending on the demands for BTC however the question will be how to reach a mass adoption?
There are tons of company that accepts BTC now, some of them are a big company which should attract some attention from the people however we havent seen any significant effect yet with this.
The things that resist mass adoption would be the volatility, common people will resist something that has a volatille value which in this case it will be BTC. Something that has a value of +/- 3 % daily isnt going to attract people to use it which resist mass adoption .
Another reason will be simplicity, people loves things to be simple which of course in some cases paying things with FIAT is much more simple ( however in some cases it will be much simple with BTC ).
The other reason would be that most people are techsavvy . Short words : its hard to convince people that a coin in the internet has a value of $230~
It is a long way but we are getting there, i expect it to happen within 15 years along with world-wide mass adoption of Bitcoins, what do you guys think?
after 90% bitcoin mined we will hit that market cap trust me
Maybe we can reach near that once Bitcoin cannot be mined anymore and a billion people put 10% or so of their earnings into BTC as well..We need a wider range of people now to come in and see BTC as a viable store of wealth, asset and currency but much education needs to still be disseminated to the General Public at large.
It is a long way but we are getting there, i expect it to happen within 15 years along with world-wide mass adoption of Bitcoins, what do you guys think?
If Apple can inch towards $1Tn, why not Bitcoin. I definitely see a lot more potential in Bitcoin than in a single company.
If it does reach $1Tn (and I hold my coins until then), I can afford to take a small break.
we aren't there by any means, a trillion is 1K billion in the short scale, and we are still at a mere 4B
we need to do a x250, which mean a price of 62.5k, something a bit crazy, that won't be reached before 3 halving at least
an interesting thought by Winklevoss twins that Bitcoin as a payment system will surpass visa+mastercard+amex+ other major payment systems= 400 Billion$ and be in Trillions of dollars https://youtu.be/uEIPzl4Bx5I?t=137 , so primarily it is a point of time when people start switching from these payment processors to Bitcoin, it should reach the average Joe's throughout the world from a Hotdog seller in the US to a peasant in India., thats the time probably Bitcoin will reach a trillion$ market cap.we need to do a x250, which mean a price of 62.5k, something a bit crazy, that won't be reached before 3 halving at least
I wouldn't place much faith in WW brothers, they seam to be easy on words in most cases, but on this one ill give them credit.
There's no reason why bitcoin shouldn't replace most, if not all other alternatives. It's just a matter of time and struggle it will take to get there.
But i must say, expecting prices of 60k+ is a very far dream, and even if it is to happen, it wont be anytime even remotely soon.
cheers
we aren't there by any means, a trillion is 1K billion in the short scale, and we are still at a mere 4B
we need to do a x250, which mean a price of 62.5k, something a bit crazy, that won't be reached before 3 halving at least
an interesting thought by Winklevoss twins that Bitcoin as a payment system will surpass visa+mastercard+amex+ other major payment systems= 400 Billion$ and be in Trillions of dollars https://youtu.be/uEIPzl4Bx5I?t=137 , so primarily it is a point of time when people start switching from these payment processors to Bitcoin, it should reach the average Joe's throughout the world from a Hotdog seller in the US to a peasant in India., thats the time probably Bitcoin will reach a trillion$ market cap.we need to do a x250, which mean a price of 62.5k, something a bit crazy, that won't be reached before 3 halving at least
I wouldn't place much faith in WW brothers, they seam to be easy on words in most cases, but on this one ill give them credit.
There's no reason why bitcoin shouldn't replace most, if not all other alternatives. It's just a matter of time and struggle it will take to get there.
But i must say, expecting prices of 60k+ is a very far dream, and even if it is to happen, it wont be anytime even remotely soon.
cheers
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