Why BTC will never be over 30K - page 3.

Cult

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Quote from: MiBambino on July 27, 2017, 06:14:20 AM

I've read a lot of articles about people claiming bitcoin will be worth millions in the future, for example John mcAfee recently said bitcoin will be 500K in 3 years.
Now, imagine if this was true, and it was in fact 500K/BTC. The total market cap would then be 10.500.000.000.000, or about 10 trillion dollars. This is an unbelievable and unachievable amount of money. Even if we ignore the market caps, imagine how many people would become rich? Millions would become millionairs, hundreds would become billionaires, all in a matter of 3 years. This would cripple the global economy as we know it.

My best guess is that, in 10 years, bitcoin might be around it's absolute peak of 30K, giving it a total market cap of about 630.000.000.000$, or 630 billion. The total market cap of cryptos would then be around 2 trillion if the some of the better alts gain more traction. I believe this is fairly realistic. This means BTC would have to rise with around 7 - 8$ a day.

Edited

Guess we gonna see him eating his own dick on television. Cheesy

Satoshi would be the richest person on earth ever, ever, you'll need to combine quite a few current billionaires to match such fortune.

Yuhee

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Quote from: phr0stbyt3 on July 27, 2017, 08:46:53 AM

All the other speculation of 500k is just a newbie who doesn't know any thing about bitcoin and just because he knows he's famous he told some random numbers. 30k is still possible but that can take up to 10 years. In order ti achieve 30k bitcoin has to increase by 8$ per day that's never possible for bitcoin either the price increases by 500$ in one night or it increases daily by 100$ for few days anf stops. Bitcoin isn't like a stock it suddenly get's a high increase and decrease

Probably as they think it is just like some of the physical gold that is just easy to mine with a very satisfying. And the features of btc can be copied by other altcoins although it is not easy to have own blockchain but in time maybe there would be a lot of blockchains and btc will not be that famous anymore. So i doubt there wouls be a great price hike at that state.

phr0stbyt3

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All the other speculation of 500k is just a newbie who doesn't know any thing about bitcoin and just because he knows he's famous he told some random numbers. 30k is still possible but that can take up to 10 years. In order ti achieve 30k bitcoin has to increase by 8$ per day that's never possible for bitcoin either the price increases by 500$ in one night or it increases daily by 100$ for few days anf stops. Bitcoin isn't like a stock it suddenly get's a high increase and decrease

Palmerson

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Surprising that you just now realized that bitcoin is able to put the global economy on its head. For this reason I think that bitcoin will not be recognized ever. First and foremost, Americans will compete with bitcoin and we'll see who is in this fight to win.

sweerty1

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Not sure about market cap but high bitcoin price will make people stand off from purchasing or doing biz.
I think this will be affect after we reach around prices like $20-50k. But I think even $100k wont surprise me.

MiBambino

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Quote from: williamuk on July 27, 2017, 06:50:38 AM

Quote from: MiBambino on July 27, 2017, 06:14:20 AM

I've read a lot of articles about people claiming bitcoin will be worth millions in the future, for example John mcAfee recently said bitcoin will be 500K in 3 years.
Now, imagine if this was true, and it was in fact 500K/BTC. The total market cap would then be 10.500.000.000.000, or about 10 quadrillion dollars. That's about 10 times as much as all the money in the world (allthough I'm not quite sure if this is accurate). Still, that's an unbelievable and unachievable amount of money. Even if we ignore the market caps, imagine how many people would become rich? Millions would become millionairs, hundreds would become billionaires, all in a matter of 3 years. This would cripple the global economy as we know it.

My best guess is that, in 10 years, bitcoin might be around it's absolute peak of 30K, giving it a total market cap of about 630.000.000.000$, or 630 billion. The total market cap of cryptos would then be around 2 trillion if the some of the better alts gain more traction. I believe this is fairly realistic. This means BTC would have to rise with around 7 - 8$ a day.

I think you got the maths wrong Wink

At $500k per coin the market cap is $10 trillion, a little over gold's market cap

Edit to add: your maths is right but the $10.500.000.000.000 you get is $10 trillion, not $10 quadrillion

Right, thanks!

williamuk

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Quote from: MiBambino on July 27, 2017, 06:14:20 AM

I've read a lot of articles about people claiming bitcoin will be worth millions in the future, for example John mcAfee recently said bitcoin will be 500K in 3 years.
Now, imagine if this was true, and it was in fact 500K/BTC. The total market cap would then be 10.500.000.000.000, or about 10 quadrillion dollars. That's about 10 times as much as all the money in the world (allthough I'm not quite sure if this is accurate). Still, that's an unbelievable and unachievable amount of money. Even if we ignore the market caps, imagine how many people would become rich? Millions would become millionairs, hundreds would become billionaires, all in a matter of 3 years. This would cripple the global economy as we know it.

My best guess is that, in 10 years, bitcoin might be around it's absolute peak of 30K, giving it a total market cap of about 630.000.000.000$, or 630 billion. The total market cap of cryptos would then be around 2 trillion if the some of the better alts gain more traction. I believe this is fairly realistic. This means BTC would have to rise with around 7 - 8$ a day.

I think you got the maths wrong Wink

At $500k per coin the market cap is $10 trillion, a little over gold's market cap

Edit to add: your maths is right but the $10.500.000.000.000 you get is $10 trillion, not $10 quadrillion

Beerwizzard

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500k per 1 btc realy seems unachievable but 30k seems realistic if bicoin would become a complete currency and would be accepted as a payment. No one knows when it happens. It may be 3 or more years but it is achievable.
P.S. One day 500$ per BTC seemed not realistic.

MiBambino

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I've read a lot of articles about people claiming bitcoin will be worth millions in the future, for example John mcAfee recently said bitcoin will be 500K in 3 years.
Now, imagine if this was true, and it was in fact 500K/BTC. The total market cap would then be 10.500.000.000.000, or about 10 trillion dollars. This is an unbelievable and unachievable amount of money. Even if we ignore the market caps, imagine how many people would become rich? Millions would become millionairs, hundreds would become billionaires, all in a matter of 3 years. This would cripple the global economy as we know it.

My best guess is that, in 10 years, bitcoin might be around it's absolute peak of 30K, giving it a total market cap of about 630.000.000.000$, or 630 billion. The total market cap of cryptos would then be around 2 trillion if the some of the better alts gain more traction. I believe this is fairly realistic. This means BTC would have to rise with around 7 - 8$ a day.

Edited

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