Topic: Why I believe bitcoin will never reach 1 million per coin (Read 4019 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.
Well, i think Bitcoin could be worth like million today dollars just that could take 20 years. Till then he could reach $1000, $10000 and even $100000 more than one time, as bigger will be market cap he will be less volatile. Lot of big holders will sell all way and spread they share.
There's a large chasm between dreaming of $1 mil and believing it. I'm not so sure there are that many folks in the latter category. I ain't. $10-100,000 is borderline feasible if all the stars aligned. Beyond that would be totally uncharted territory.
There are a few people in history with wealth in the hundreds of billions, but they were active in making and exploiting things.
The way the world is going perhaps the new paradigm will switch to the owners of strings of 1s and 0s. Then again...
There are a few people in history with wealth in the hundreds of billions, but they were active in making and exploiting things.
The way the world is going perhaps the new paradigm will switch to the owners of strings of 1s and 0s. Then again...
One day its clearly viable, but overpump while the bitcoin mining rewards is >1 btc is futile, rise in the value will come gradualy, like its supposed to.
Somewhere around 1-3k / bitcoin most (if not all ) bitcoin investors from last rise will dump their coins, and then we will have another slowly degrading year or two.
Scenario will repeat it self over and over again, but with higher ath's and higher lows, and 10+years from now, we just may see 100k per btc scenarios.
There's a large chasm between dreaming of $1 mil and believing it. I'm not so sure there are that many folks in the latter category. I ain't. $10-100,000 is borderline feasible if all the stars aligned. Beyond that would be totally uncharted territory.
There are a few people in history with wealth in the hundreds of billions, but they were active in making and exploiting things.
The way the world is going perhaps the new paradigm will switch to the owners of strings of 1s and 0s. Then again...
There are a few people in history with wealth in the hundreds of billions, but they were active in making and exploiting things.
The way the world is going perhaps the new paradigm will switch to the owners of strings of 1s and 0s. Then again...
You don't need to believe. it just wont
As for now I believe bitcoin will prove to be successful in the future but 1 bitcoin will never again be worth more than $1,000.-
Easily done.
As for now I believe bitcoin will prove to be successful in the future but 1 bitcoin will never again be worth more than $1,000.-
maybe there's a chance, very small chance i think
if fiat money fail and not worth because hyper-inflation, maybe BTC price will become 1 million / BTC
and at the same time one box meals worth 5 millions
if fiat money fail and not worth because hyper-inflation, maybe BTC price will become 1 million / BTC
and at the same time one box meals worth 5 millions
If that happens BTC/FIAT wont exist. It will be BTC/Goods.
but how to trade goods for bitcoin in online trading
People hardly want to buy bitcoin for $200-$300 who on earth is going to buy them at $1 million!!
If anyone believes it can go to a million then you seriously need to get go that brain of yours tested stop giving bitcoin a bad name threw that dreamy wanna be rich crap lolol
If anyone believes it can go to a million then you seriously need to get go that brain of yours tested stop giving bitcoin a bad name threw that dreamy wanna be rich crap lolol
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?
Price rises lead to coin distribution. There will be noone worth 100 billion from bitcoin (SN excepted), they will have diversified long before we reach those dizzy heights.
maybe there's a chance, very small chance i think
if fiat money fail and not worth because hyper-inflation, maybe BTC price will become 1 million / BTC
and at the same time one box meals worth 5 millions
if fiat money fail and not worth because hyper-inflation, maybe BTC price will become 1 million / BTC
and at the same time one box meals worth 5 millions
If that happens BTC/FIAT wont exist. It will be BTC/Goods.
maybe there's a chance, very small chance i think
if fiat money fail and not worth because hyper-inflation, maybe BTC price will become 1 million / BTC
and at the same time one box meals worth 5 millions
if fiat money fail and not worth because hyper-inflation, maybe BTC price will become 1 million / BTC
and at the same time one box meals worth 5 millions
Feeling that nobody can be that rich seems an illogical basis for rejecting the $1mn possibility
What is your rational basis for rejection?
What is your rational basis for rejection?
How many trillion USD would the marketcap need so we get to 1mn a coin? There is your answer. 10k-50k is more probably.
Stability at 10k hopefully.
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?
Them having that wealth or if its spread out to 1000 people, whats the difference ?
I bet they are better at holding than most others, and 1 mil. per coin ? why would we expect such high value, i doubt we will ever see that.
Quote
BTC980,000*. Satoshi Nakamoto
BTC400,000*. HD Moore (AHA)
BTC400,000*. Dustin D. Trammell (AHA)
BTC400,000*. Tod Beardsley (AHA)
BTC350,000*. "Dread Pirate Roberts" a.k.a. "DPR"
BTC300,000. Roger Ver
BTC300,000*. "knightmb"
BTC200,000. Mark Karpeles
BTC174,000*. FBI (Federal Bureau of Investigation, USA)
BTC400,000*. HD Moore (AHA)
BTC400,000*. Dustin D. Trammell (AHA)
BTC400,000*. Tod Beardsley (AHA)
BTC350,000*. "Dread Pirate Roberts" a.k.a. "DPR"
BTC300,000. Roger Ver
BTC300,000*. "knightmb"
BTC200,000. Mark Karpeles
BTC174,000*. FBI (Federal Bureau of Investigation, USA)
SN is the richest!
Quote
But how can somebody become that rich?
They do hard work!
the easy ways is be scamer, but your life is like in the hell
Quote
BTC980,000*. Satoshi Nakamoto
BTC400,000*. HD Moore (AHA)
BTC400,000*. Dustin D. Trammell (AHA)
BTC400,000*. Tod Beardsley (AHA)
BTC350,000*. "Dread Pirate Roberts" a.k.a. "DPR"
BTC300,000. Roger Ver
BTC300,000*. "knightmb"
BTC200,000. Mark Karpeles
BTC174,000*. FBI (Federal Bureau of Investigation, USA)
BTC400,000*. HD Moore (AHA)
BTC400,000*. Dustin D. Trammell (AHA)
BTC400,000*. Tod Beardsley (AHA)
BTC350,000*. "Dread Pirate Roberts" a.k.a. "DPR"
BTC300,000. Roger Ver
BTC300,000*. "knightmb"
BTC200,000. Mark Karpeles
BTC174,000*. FBI (Federal Bureau of Investigation, USA)
SN is the richest!
Quote
But how can somebody become that rich?
They do hard work!
the easy ways is be scamer, but your life is like in the hell
Feeling that nobody can be that rich seems an illogical basis for rejecting the $1mn possibility
What is your rational basis for rejection?
What is your rational basis for rejection?
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?
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
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
Lol. Who said bitcoin will ever go to this price? Bitcoin will lucky to become 10k, but if it does it will make a lot of people very rich.
But how can somebody become that rich?
Maybe it's time for us to be the new wealthy elite?
New Oxfam report says half of global wealth held by the 1%
http://www.theguardian.com/business/2015/jan/19/global-wealth-oxfam-inequality-davos-economic-summit-switzerland
http://www.theguardian.com/business/2015/jan/19/global-wealth-oxfam-inequality-davos-economic-summit-switzerland
Maybe they will not convert them for FIAT, they can able also to spend their bitcoins directly.
That is the point we may be at though, it is possible these people could own this much for being on the fore front of a major piece of technology.
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?
What are your source of data for the bold parts ?
http://www.reddit.com/r/Buttcoin/comments/2vfl24/roger_ver_has_the_ability_to_send_bitcoin_into/
winkies themselves declared they own 1%
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?
What are your source of data for the bold parts ?
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?
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