Why Bitcoin if Doomed - page 3. | Bitcointalksearch.org

joshy23

sr. member

Activity: 1078

Merit: 256

Quote from: want0sell on February 10, 2017, 12:33:55 AM

There are a max of 21 million bitcoins. lets assume 5% of those are lost to forgotten addresses or other accidents. We now have 20 million coins. At a price of $1,000 per coin, that is 21 billion USD as a market cap. You cannot have a currency with such a low, irreversible cap. I do not see a future for BTC unless it rises to $100,000 per coin, which is unlikely
Thoughts?

How did you know that 21 billion USD as market cap is not enough for bitcoin to survive? Bitcoin might be affected by the market cap, but it will survive even if there's deflation in the market.

Xester

hero member

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Quote from: want0sell on February 10, 2017, 12:33:55 AM

There are a max of 21 million bitcoins. lets assume 5% of those are lost to forgotten addresses or other accidents. We now have 20 million coins. At a price of $1,000 per coin, that is 21 billion USD as a market cap. You cannot have a currency with such a low, irreversible cap. I do not see a future for BTC unless it rises to $100,000 per coin, which is unlikely
Thoughts?

That is a fine idea, the only way to make bitcoins unstoppable is to raise its value up to $100,000 dollars. With only $1000 at its current price there is a tendency that it will be affected by huge deflation but if it reach that high in value such deflation will not cause panic to bitcoin investors. The only way to strengthen bitcoin is to promote it more so we can reach a higher demand that can match up to that value.

gizmohead

newbie

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Quote from: want0sell on February 10, 2017, 12:33:55 AM

There are a max of 21 million bitcoins. lets assume 5% of those are lost to forgotten addresses or other accidents. We now have 20 million coins. At a price of $1,000 per coin, that is 21 billion USD as a market cap. You cannot have a currency with such a low, irreversible cap. I do not see a future for BTC unless it rises to $100,000 per coin, which is unlikely
Thoughts?

1 BCT=100 million satoshi
21 million BCT= 2.1 quadtrillion satoshi
1 BCT=$1,000 per BCT
21 million BCT=$21 billion dollars
100 million satoshi=$1,000
2.1 quadtrillion satoshi=$21 billion dollars
You figure the rest.

davis196

hero member

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Quote from: want0sell on February 10, 2017, 12:33:55 AM

There are a max of 21 million bitcoins. lets assume 5% of those are lost to forgotten addresses or other accidents. We now have 20 million coins. At a price of $1,000 per coin, that is 21 billion USD as a market cap. You cannot have a currency with such a low, irreversible cap. I do not see a future for BTC unless it rises to $100,000 per coin, which is unlikely
Thoughts?

Bitcoin will never be a mainstream worlwide currency.The governments and central banks won`t allow it.
Why do you think that the "low cap" is a problem?I don`t care about the btc price.
It`s not about the price,it`s about the unique transaction system and the unique concept.

want0sell

member

Activity: 78

Merit: 250

There are a max of 21 million bitcoins. lets assume 5% of those are lost to forgotten addresses or other accidents. We now have 20 million coins. At a price of $1,000 per coin, that is 21 billion USD as a market cap. You cannot have a currency with such a low, irreversible cap. I do not see a future for BTC unless it rises to $100,000 per coin, which is unlikely
Thoughts?

Topic: Why Bitcoin if Doomed - page 3. (Read 1961 times)