Will 1 Bitcoin will Reach 1 million usd one day? - page 7.

Holdaaja

legendary

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Quote from: Bitcoin Magazine on April 06, 2014, 11:55:24 AM

no. not with transaction fees the way they are. nobody is gonna spend $100 to transmit $0.25 worth for a stick of gum. something will have to change

maybe a cryptocurrency designed for smaller amounts? or a transaction fee Bitcoin. like for example WHY are there transaction fees in the first place. Huh

Actually fees have been reduced at new 0.9 version, before they were 0.0001 now it is only 0.00001 if I remember correctly.

bryant.coleman

legendary

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Quote from: Flashman on April 06, 2014, 08:47:46 AM

21 million bitcoins shared between earth's population = about 0.003 bitcoins each. (In the near term say 0.002) so amount of bitcoins needed to be richer than 99% of the world is 0.3 BTC, now imagine bitcoin has become widely accepted and used, you are the 1% with 0.3 coin. The bottom of the 1% club begins at about $500,000 dollars today. Therefore when bitcoin is widely enough used, a whole one should be solidly worth one million.

For your calculations to make sense, Bitcoin should be the only measurement of net worth in the world.

When we say about the richest 1%, we take in to account all their assets, and not only the hard cash. Worth can be in real estate, equities, bullion.etc.

Kiki112

full member

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one day perhaps, in 20-30 years

Bitcoin Magazine

sr. member

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no. not with transaction fees the way they are. nobody is gonna spend $100 to transmit $0.25 worth for a stick of gum. something will have to change

maybe a cryptocurrency designed for smaller amounts? or a transaction fee Bitcoin. like for example WHY are there transaction fees in the first place. Huh

Shepherd

member

Activity: 98

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No it will never happen because the usd will disappear before that.

bitpop

legendary

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Merit: 1060

50k will be enough for me

vipgelsi

legendary

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No but I'm hoping for $10,000

Flashman

hero member

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Hodl!

Think of it this way if you like....

21 million bitcoins shared between earth's population = about 0.003 bitcoins each. (In the near term say 0.002) so amount of bitcoins needed to be richer than 99% of the world is 0.3 BTC, now imagine bitcoin has become widely accepted and used, you are the 1% with 0.3 coin. The bottom of the 1% club begins at about $500,000 dollars today. Therefore when bitcoin is widely enough used, a whole one should be solidly worth one million.

john641

full member

Activity: 235

Merit: 100

It will reach a million its only a matter time.

firstlast

full member

Activity: 159

Merit: 100

If bitcoin reaches a million I will eat my bitcoins

Harlbatr

newbie

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Quote from: bitpop on April 05, 2014, 11:29:25 AM

A million dollar Bitcoin will become reality very soon

Are you sure about that? What is your arguments ?

sanjoea

full member

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Merit: 100

Definitely it will not , some other currency may dominate, there is a possibilities

Holdaaja

legendary

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If dollar goes down then of course. And it can go way more than 100 000$ even without dollar dropping.

bryant.coleman

legendary

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Quote from: ChuckBuck on April 04, 2014, 01:00:28 PM

Hopefully our children's children get to see it one day.

I doubt that too. Market Cap of 21 trillion? Not possible with the current world population.

freedomno1

legendary

Activity: 1834

Merit: 1094

Learning the troll avoidance button :)

Quote from: softron on April 05, 2014, 12:26:19 PM

Maybe when people stop using cash

Been steadily occurring with credit cards and what not so who knows

softron

full member

Activity: 210

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Maybe when people stop using cash

bitpop

legendary

Activity: 2912

Merit: 1060

A million dollar Bitcoin will become reality very soon

poopsquad123

newbie

Activity: 4

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It cant reach that high because multi billion dollar companies will still have transactions with real money no matter how high the price of BTC. It is very unlikely but i think BTC can be valued at 2000$ by 2016

driver

member

Activity: 60

Merit: 10

the big smart experts once said bitcoin would stabilize at about 800.00 about now . Seems they were off by a bit . the price is going to fall again . I have not looked today but I bet it is less than 450.00 . the only people that are happy now are those that bought thousands of $ worth when they were just pennies . Lucky people bought during the rise and got smart and sold off at above 800.00. Anyone buying after that was simply being foolish.
I sold mine off for some other coin . can not even remember what as the whole thing got quite uninteresting and having many accounts to just simply buy and sell the silly coins was complicated.
Here is the simple test for anything any product to go big -- Is it easy to purchase and sell ? ... bitcoin is the hardest thing I have ever tried to buy and puts you at extraordinary risk of identity theft due to the info you must give to companies you have no idea who they are and can simply be opened by anyone wishing to steal and sell your info and your cash or bitcoins. it will never ever ever be a mainstream currency . If you think it will then you live in a fantasy world inside your own mind .

nthunder

newbie

Activity: 50

Merit: 0

Quote from: ?? on ??

This thread looks totally absurd as the market is falling each day at the moment..!

I think the 1.2k apex was driven by a "gold rush" like event with BTC breaking in the front page of Google News. It then followed a bubble/land slide effect and has now stabilized at 4-5 hundred levels. Stability is good, it's very good in fact and Bitcoin has bravely held many hurdles (Mt Gox, China, Russia, etc). Yes, it will oscillate more then the dollar but consider it is still a new technology and the world has still to adapt to it. Traditional currencies oscillate also, consider USD exchange rates during Bernanke talks or Bureau of Economic Analysis announcements.

A stable $400 level is better than a highly inflated $1200. And although it might not seem like it now, BTC will rise again. It has nowhere else to go but up.

Happy Mining!

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