When bitcoin will hit $1 million ! - page 6.

EdenHazard

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Quote from: 1Referee on August 23, 2019, 12:09:54 PM

It's so funny seeing people speculate about Bitcoin reaching $1 million prices while they get a boner after seeing a 50% increase in a matter of weeks and sell a large portion of their stack. Cheesy

If you're so tempted to sell your coins after a pretty insignificant increase, then why dream about such high levels? If you're serious about holding until such prices, first make sure you can keep your coins offline for a whole year without moving them. If you fail there you will not be able to hold even until $100,000 unless it happens before the end of the year, but that's highly unlikely. Tongue

Lol that's the irony .. first of all you need a full commitment to hold your bitcoin and lock them up on a vault that can never be opened until certain date , with this condition you might have higher chance to see another bitcoin ATH and even that 1 million usd price per each bitcoin (which noone know when) while you are holding a couple of them then ready to sell it.

It's something possible considering we've through the days when bitcoin price were only $10 each and people talking about a $10,000 per one bitcoin is like a daydream, an illusion and no way would hit it, few years later ... Voila! The mission impossible accomplished! Today $10,000/ 1 bitcoin is something normal .

andreibi

legendary

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Practising Hebrew before visiting Israel

We will have to wait for Tim Draper's prediction that Bitcoin will reach $250,000 by early 2023. At first, this will seem too far away but that's how markets feel. Before you know it, it's 2022 and Bitcoin is around $100,000 plus.

Wilhelm

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Quote from: Kemarit on August 24, 2019, 02:46:37 PM

So when Lambo? Grin

If we hit $1.8M in the next bull cycle then I will most certainly get one Cool

SquallLeonhart

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If bitcoin can get to that stage where it will be adopted as the global currency of the world when the world agrees to it, then there is absolutely no doubt that the remaining coin will be mined on time, and then make bitcoin scarce for it to hit up to that $1 million dollars, but without recognizing it as global currency and creating a rush for the coin, I think the highest that I feel bitcoin can go is $100,000 which to is much more realistic.

I am not sure that government is ready for any regulation right now that will create a high adoption to cause the surge in price, so we just have to be dealing with the system as we are doing now and allow it to just continue to grow on its own with the little compliance we are naturally getting on a daily basis.

DdmrDdmr

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There are lies, damned lies and statistics. MTwain

Hal Finney would have considered the 1M$ per BTC somewhat cheap. In fact, one week after the Genesis block, he "speculated" with 10 M$ being a viable figure based on a 20M BTC total supply (speculation as to why he left out 1 M BTCs in his calculus is open). The exercise was likely not a real expectation, but rather more a means to incentivise people to download bitcoin 0.1. Speculation was quick to makes its first appearance, although no timeframe was given.

See: https://mrtopstep.com/early-bitcoin-contributor-projected-10-million-btc-price-10-years-ago/

gentlemand

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Welt Am Draht

Quote from: BitHodler on August 23, 2019, 05:36:05 PM

Can we first hit $100k before making such outrageous predictions? $1 million is $990k above the current price.... It really seems that people have gotten so Bitcoin gay that they can't think straight anymore.

Nothing wrong with setting certain targets of course, but this is so unrealistic at this stage that it makes little sense to even talk about it. This of course is a very unpopular opinion here, but that I don't care too much about.

I don't think it'll ever approach that in current USD buying power, but it is extremely easy to forget how thinly traded it can be, how few there are per capita and they don't churn out any more if a ton of people arrive in a hurry.

It'll be an impressive figure but not too far off meaningless if there are 50 for sale in the whole world if sellers go on strike.

My guess is 2046 with plenty of inflation behind it.

Kemarit

legendary

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So when Lambo? Grin

Didn't click that link though, I really can't imagine Bitcoin hitting millions though, What will be the landscape then, I guess we really need to talk a look at how Bitcoin good be a medium, a payment system first before we speculate on exorbitant figures here. $30,000 would be a good figure to watch first and then let's see how it goes. Let's just see around 2030 when almost all bitcoin are mine or at least if we have reach around 90%-95%. Because at that time, Bitcoin will be expensive and we don't know if we can adopt global adoption or Bitcoin will simply became just a store of value. So don't know what scripts are going to play out in the future.

BitHodler

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Quote from: exstasie on August 23, 2019, 05:52:40 PM

In percentage terms, it's not outrageous at all. Using Bitstamp prices:

2015 low: $152
2017 high: $19,666

That's a 12,838% rise. Apply that to the 2018 low of $3,122 and we're looking at $400K+. That's just one bull market cycle.

Everyone also looks at 2011 and 2013 and assumes the next cycle must be smaller, but I'm keeping an open mind about that. For example, if we apply 2011's gains bottom to top, the next cycle target would be $1.8 million.

Am I expecting that in the next bull market? No, but I'm not ruling it out either. With Bitcoin, the potential upside is endless.

I can be open minded about gold too and pull out its lows and highs and assume the same will happen again. The thing is that it doesn't have to happen just because it happened before.

Bitcoin isn't always going to be a hot low priced asset class. I consider its long term up side to realistically be $50-$100k, but after that the risk of buying it doesn't outweigh the risk of seeing it go back to current levels or even lower.

I just don't see the demand reach that far because most people in developed countries don't need Bitcoin. People keep holding on to $1 million because they calculate themselves rich already.

exstasie

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Quote from: BitHodler on August 23, 2019, 05:36:05 PM

Can we first hit $100k before making such outrageous predictions? $1 million is $990k above the current price.... It really seems that people have gotten so Bitcoin gay that they can't think straight anymore.

In percentage terms, it's not outrageous at all. Using Bitstamp prices:

2015 low: $152
2017 high: $19,666

That's a 12,838% rise. Apply that to the 2018 low of $3,122 and we're looking at $400K+. That's just one bull market cycle.

Everyone also looks at 2011 and 2013 and assumes the next cycle must be smaller, but I'm keeping an open mind about that. For example, if we apply 2011's gains bottom to top, the next cycle target would be $1.8 million.

Am I expecting that in the next bull market? No, but I'm not ruling it out either. With Bitcoin, the potential upside is endless.

BitHodler

legendary

Activity: 1526

Merit: 1179

Can we first hit $100k before making such outrageous predictions? $1 million is $990k above the current price.... It really seems that people have gotten so Bitcoin gay that they can't think straight anymore.

Nothing wrong with setting certain targets of course, but this is so unrealistic at this stage that it makes little sense to even talk about it. This of course is a very unpopular opinion here, but that I don't care too much about.

Wilhelm

legendary

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Quote from: Oceat on August 23, 2019, 03:58:13 PM

Are you the follower of John McAfee that making a prediction about of Bitcoin to hit 1M?
I didn't watch the video since i don't know it yet but i am more interested about of how did you manage to get the value of 1M in the future?
Bitcoin will reach that price may be within 5 to 10 years from now.

The video just shows that you can rationally think BTC could be $1M in 2025.
This is not absurd but I personally believe we need a few more years.

Oceat

sr. member

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Are you the follower of John McAfee that making a prediction about of Bitcoin to hit 1M?
I didn't watch the video since i don't know it yet but i am more interested about of how did you manage to get the value of 1M in the future?
Bitcoin will reach that price may be within 5 to 10 years from now.

exstasie

legendary

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Anywhere in the 2020s is on the table. It could even happen in the next few years since we really don't need mass adoption to get there. All we need is for some of the world's rich investors, investment banks, asset managers, and governments to buy into an extremely limited supply.

Some would say that's a long shot but it sure seems more likely than it did 5+ years ago.

Mahanton

hero member

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34 views for those who got curious and clicked up the link - including me Grin

You arent the only one who do speculate on reaching $1M. https://thenextweb.com/hardfork/2019/07/17/john-mcafee-bitcoin-bet-million-dick-eat-twitter-cryptocurrency/
We would never hit up these numbers for sure.

1Referee

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It's so funny seeing people speculate about Bitcoin reaching $1 million prices while they get a boner after seeing a 50% increase in a matter of weeks and sell a large portion of their stack. Cheesy

If you're so tempted to sell your coins after a pretty insignificant increase, then why dream about such high levels? If you're serious about holding until such prices, first make sure you can keep your coins offline for a whole year without moving them. If you fail there you will not be able to hold even until $100,000 unless it happens before the end of the year, but that's highly unlikely. Tongue

Wilhelm

legendary

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Quote from: gantez on August 23, 2019, 11:25:03 AM

One million dollar isn't an easy think to acquire for just one bitcoin to be acquired in exchange for one million dollar, is really funny as op said Grin

I wonder who among us will be around then.
I remember this is speculation board now. Shocked

Try buying a Picasso. Just a piece of paper with some paint on it.
Bitcoin can grow higher than 1 million. The people with 1BTC will be the richest on the planet.

gantez

full member

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One million dollar isn't an easy think to acquire for just one bitcoin to be acquired in exchange for one million dollar, is really funny as op said Grin

I wonder who among us will be around then.
I remember this is speculation board now. Shocked

Wilhelm

legendary

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in 2028/2029 is my guess Grin

YOSHIE

legendary

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No matter what the price of Bitcoin now and going forward.
Buy the best for me.
No need to wait for the price of $ 1 million, the current price alone is pretty good for investment.
The price of $ 1 million I think is too far away to wait, why don't you focus on the price of Bitcoin now.

Predictions may be, the question now for you, have you bought Bitcoin now to wait for the price of $ 1 million.
If you don't buy now.
maybe, when the price of bitcoin reaches $ 1 million your bitcoin assets are empty, it's the same as lying to yourself.

not enough to make a video if you are not focused on adding to your current Bitcoin assets.

yazher

hero member

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Merit: 588

You own the pen

We're not at the 100 age of bitcoins we're still on its 10th birthday and the last bitcoin has not been mined yet. so anything will happen between this time and when the last bitcoin has mine. after that when the price will increase as it will suddenly double the price from its current price then your theory will be possible if there will be no stopping on the price increase.

As I said anything can happen and also there will be a possibility that the price will also fall and bitcoin that time will no longer be needed because there will be another coin that will dethrone bitcoin. as the matter of fact, they say the new coin supported by facebook will be the next generation's bitcoin however as for me, base on my experience that's not gonna happen at all. there's no way bitcoin can be replaced by that thing.

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