Topic: Why I believe bitcoin will never reach 1 million per coin (Read 3992 times)
Yeah but they can't liquidate that many coins all at once, of course. The market depth wouldn't be enough for that. I think if those people really still hold their coins and decide to sell some of them, they'll just be creating a constant selling pressure of a yet-to-be-determined magnitude. But it doesn't mean that they're worth $800B
If bitcoin becomes the norm, it's only normal that some people will get filthy rich beyond imagination just for luck of having invested big at the right moment.
Imagine finding a gold mine in your garden during the gold rush.
Imagine finding a gold mine in your garden during the gold rush.
It also depends on luck yes, but these days analyst also have a lot to do with these things. People pay a lot of money for analysts to tell them whether to invest or not to. Sometimes it pays back.
And especially with Bitcoin, you had to have a vision back in the day when it was cheap. If you saw the potential and you had capital, you could make money. Unfortunately if you saw the potential, but didn't have capital to invest you lost your chance of becoming rich.
I still think now - like, RIGHT now - it takes having vision (and a bit of faith) to invest big time, and you could easily multiply your fortune per 10 in some years.
What I mean is, for those who have the capital it doesn't really matter if it's now or in 2010. For us small folk, it absolutely does.
winklevoss own 100,000..
Bitcoin jesus Roger ver owns 400,000
Which means these guys will have wealth like 100 billion and 400 billion
this is not at all practical..seems extremely unlikely
But how can somebody become that rich?
Let's not forget about ole fatty fat head Karpeles: 840,000 BTC :-/ Bitcoin jesus Roger ver owns 400,000
Which means these guys will have wealth like 100 billion and 400 billion
this is not at all practical..seems extremely unlikely
But how can somebody become that rich?
winklevoss own 100,000..
Bitcoin jesus Roger ver owns 400,000
Which means these guys will have wealth like 100 billion and 400 billion
this is not at all practical..seems extremely unlikely
But how can somebody become that rich?
Bitcoin jesus Roger ver owns 400,000
Which means these guys will have wealth like 100 billion and 400 billion
this is not at all practical..seems extremely unlikely
But how can somebody become that rich?
No one would have imagined Bill Gates could become that rich.
Getting rich is about being a pioneer and having luck. It's perfectly possible that their wealth is 400 billion. Fiat equivalence means shit nothing anyway.
winklevoss own 100,000..
Bitcoin jesus Roger ver owns 400,000
Which means these guys will have wealth like 100 billion and 400 billion
this is not at all practical..seems extremely unlikely
But how can somebody become that rich?
Bitcoin jesus Roger ver owns 400,000
Which means these guys will have wealth like 100 billion and 400 billion
this is not at all practical..seems extremely unlikely
But how can somebody become that rich?
The Federal Reserve issues 100% of new US Dollars into circulation, which they do so as loans to be paid back + interest. They are essentially the final owners of all our debt based dollars. And how many trillions of dollars is the market cap of USD??
Yet the OP is making the case that because the referenced Bitcoin investors can later trade large amounts of their Bitcoins (which are limited and rare) with others who want them, that somehow limits Bitcoin's market cap?
If bitcoin becomes the norm, it's only normal that some people will get filthy rich beyond imagination just for luck of having invested big at the right moment.
Imagine finding a gold mine in your garden during the gold rush.
Imagine finding a gold mine in your garden during the gold rush.
It also depends on luck yes, but these days analyst also have a lot to do with these things. People pay a lot of money for analysts to tell them whether to invest or not to. Sometimes it pays back.
And especially with Bitcoin, you had to have a vision back in the day when it was cheap. If you saw the potential and you had capital, you could make money. Unfortunately if you saw the potential, but didn't have capital to invest you lost your chance of becoming rich.
If bitcoin becomes the norm, it's only normal that some people will get filthy rich beyond imagination just for luck of having invested big at the right moment.
Imagine finding a gold mine in your garden during the gold rush.
Imagine finding a gold mine in your garden during the gold rush.
I think that with broader spread and acceptance of Bitcoin it's price will stabilize at a near constant level. As for the huge price swings of hundreds of dollars a day, I think that will be just the past.
I'm not saying that as of right now we won't be able to see swings, but in the future as more merchants accept it and more people use, there should be some sort of price stabilization. Otherwise it won't be used by more than these days. A global currency needs some sort of stability.
If Bitcoin does in fact become a currency that is widely used I would imagine it would only stabilize in the event of once it reached its full potential of users and no more. As more and more demand manifests itself over time, the price is going to keep going on its deflationary nature until the demand reaches a plateau of users and ceases to go any further. I'm not saying that as of right now we won't be able to see swings, but in the future as more merchants accept it and more people use, there should be some sort of price stabilization. Otherwise it won't be used by more than these days. A global currency needs some sort of stability.
The problem with bitcoin is that wealthy individuals can manipulate the price solely on their own, and I don't see another solution then massadoption for that
That is the same for stock, forex and any other investment. There is always whales everywhere.
I think that with broader spread and acceptance of Bitcoin it's price will stabilize at a near constant level. As for the huge price swings of hundreds of dollars a day, I think that will be just the past.
I'm not saying that as of right now we won't be able to see swings, but in the future as more merchants accept it and more people use, there should be some sort of price stabilization. Otherwise it won't be used by more than these days. A global currency needs some sort of stability.
If Bitcoin does in fact become a currency that is widely used I would imagine it would only stabilize in the event of once it reached its full potential of users and no more. As more and more demand manifests itself over time, the price is going to keep going on its deflationary nature until the demand reaches a plateau of users and ceases to go any further. I'm not saying that as of right now we won't be able to see swings, but in the future as more merchants accept it and more people use, there should be some sort of price stabilization. Otherwise it won't be used by more than these days. A global currency needs some sort of stability.
The problem with bitcoin is that wealthy individuals can manipulate the price solely on their own, and I don't see another solution then massadoption for that
I think that with broader spread and acceptance of Bitcoin it's price will stabilize at a near constant level. As for the huge price swings of hundreds of dollars a day, I think that will be just the past.
I'm not saying that as of right now we won't be able to see swings, but in the future as more merchants accept it and more people use, there should be some sort of price stabilization. Otherwise it won't be used by more than these days. A global currency needs some sort of stability.
If Bitcoin does in fact become a currency that is widely used I would imagine it would only stabilize in the event of once it reached its full potential of users and no more. As more and more demand manifests itself over time, the price is going to keep going on its deflationary nature until the demand reaches a plateau of users and ceases to go any further. I'm not saying that as of right now we won't be able to see swings, but in the future as more merchants accept it and more people use, there should be some sort of price stabilization. Otherwise it won't be used by more than these days. A global currency needs some sort of stability.
I think that with broader spread and acceptance of Bitcoin it's price will stabilize at a near constant level. As for the huge price swings of hundreds of dollars a day, I think that will be just the past.
I'm not saying that as of right now we won't be able to see swings, but in the future as more merchants accept it and more people use, there should be some sort of price stabilization. Otherwise it won't be used by more than these days. A global currency needs some sort of stability.
I'm not saying that as of right now we won't be able to see swings, but in the future as more merchants accept it and more people use, there should be some sort of price stabilization. Otherwise it won't be used by more than these days. A global currency needs some sort of stability.
Oh look its a post on buttcoin. I trust that source completely.
No one should think Bitcoin will ever reach anything above $100K. These valuations are beyond insane.
Let's get the price first to $1000 again, and keep it there. Shall we?
Let's get the price first to $1000 again, and keep it there. Shall we?
OP is assuming that none of these large holders will sell significant amounts on the way up. How likely is that? I plan to sell all or nearly all next bubble so among other things I will have money to buy it back on the way down.
i could argue, why bitcoin will not reach zero, but 10k is more of a good target, at 10k coin, it mean that 7B people will have 1k value out of it
even reaching $10k for me is way too optimistic. $500 seems reasonable for bitcoin.
winklevoss own 100,000..
Bitcoin jesus Roger ver owns 400,000
Which means these guys will have wealth like 100 billion and 400 billion
this is not at all practical..seems extremely unlikely
But how can somebody become that rich?
Bitcoin jesus Roger ver owns 400,000
Which means these guys will have wealth like 100 billion and 400 billion
this is not at all practical..seems extremely unlikely
But how can somebody become that rich?
It is unlikely (for the near future at least), but how comes that from what you have said above?
If I have a gold bar its price will never double because it is not fair towards people who don't have gold bars?
Those who could afford time and money to analyse the potential of Bitcoin when it was worth 1-3$, and invested, have coins stacked now. Just because a few people own large amount of coins, doesn't mean that the price cannot go up.
i could argue, why bitcoin will not reach zero, but 10k is more of a good target, at 10k coin, it mean that 7B people will have 1k value out of it
Growth of bitcoin is poised for success but however, If for any reason bitcoin fails one day, it's all because of the hack that causes people to lose trust. After the recent hack taking place one after another I'm also beginning to get frustrated.
I allways have to laugh on the inside with these stories. Fiat and various money systems scam people EVERY day on a much more massive scale, and with much more revenue and victims, even with the law on their side!! Like it or not, when you get scammed with bitcoin, you're allways partially reponsible yourself, bad computer security, enrolment in ponzi's and overall greed before wisdom, bitcoin is safer then any system in the world.
Growth of bitcoin is poised for success but however, If for any reason bitcoin fails one day, it's all because of the hack that causes people to lose trust. After the recent hack taking place one after another I'm also beginning to get frustrated.
$1m per coin is a little out there. i think btc market cap can one day (50+ years from now) reach $1 trillion making each btc around $50k.
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