Will Bitcoin hit $1 million? - page 5.

spngebob

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Quote from: [email protected] on January 25, 2018, 10:30:17 AM

Too crazy to happen? What do you guys think?

1 satoshi will be equivalent to 1 cent, so probably it won't hit $1M. I can't imagine paying 200-300$ fee for 10$ worth transaction.
I don't think anyone can. Too high price will make bitcoin useless.
Imagine someone wants to buy bitcoins equivalent to 200$ - and can't send it because fees will eat all balance.
I think everyone has forgotten what dust is.

Bolt Brownie

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There are reasons to believe that bitcoin would reach that price if it would succeed in it's goal to become a currency used by people worldwide to buy and sell stuff. Also let's not forget that there is a halve happening in 2020, so bitcoin will become even more valuable by then. I'm not so sure about the entire crypto market going to "$60 trillion, or 1/3 of all the money in the world". As bitcoin gets more stable, and gets a real use case, the hype around crypto will also decline, and a lot of bubble coins will disappear. We have thousands of coins and tokens, but I would say that we will end up getting a very small amount of them being functional. I think that if bitcoin manages to become the "universal coin", it's dominance won't be just 33%.

Coins4Days

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Quote from: loading... on January 25, 2018, 10:58:26 AM

Quote from: [email protected] on January 25, 2018, 10:30:17 AM

Both John McAfee (creator of the antivirus program) and James Altucher (entrepreneur, hedge fund manager and author) have made a claim that BTC will hit $1 million by the end of 2020.

That means that the market cap will be about $20 trillion or so. If BTC is 33% of the entire market, that means the cryptocurrencies market will be a whopping $60 trillion, or 1/3 of all the money in the world.

Too crazy to happen? What do you guys think?

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@charteroakpublic
- a Telegram group with leaks from premium sources like Palm Beach confidential and more.

Yes it could be possible. BUT every higher demand of money there will be a great exchange too. It may cause a higher transaction fees if have a chance. There will be advantage and disadvantage in every aspect.

Higher transaction fees from a higher bitcoin price boggles me. If the price of bitcoin is to double from today, shouldn't the fees be proportional and cut themselves in half? The miners would be profiting more with the higher price, and the users of the network would not be backed up against a cliff when they want to send $10 worth of btc for a $10 fee.

I had a transaction with 25 sats per byte that took over five weeks to confirm. Five! If the entire network as a whole lowered their fees, miners would have no other choice to accept them. Right now, the fees are okay, because btc is in the middle of a price correction.

[email protected]

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I don't know. He did say he would eat his sick if he was wrong lol

JTTech

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I'm not saying it's impossible, but I have severe doubts that Bitcoin will ever come even close to a million dollars. I personally don't see anything that supports that price level. If anyone has any articles or research they have done, I would like to see if I could potentially be wrong. It would be incredible, but I'm a realist and that seems like a pipe dream.

nl247

full member

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Well, you said it. It is a claim. No one could have thought bitcoin would hit this point we are calling a dip some years back, so, I believe anything can happen with the value of bitcoin in the long run but from where we are presently, it looks pretty impossible.
Also, McAfee has always been known to be bullish on cryptocurrencies, even shit coins as well, so I am not surprised him saying something like that. You should check his twitter page.

MiiDoViic

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Quote from: [email protected] on January 25, 2018, 10:30:17 AM

Both John McAfee (creator of the antivirus program) and James Altucher (entrepreneur, hedge fund manager and author) have made a claim that BTC will hit $1 million by the end of 2020.

That means that the market cap will be about $20 trillion or so. If BTC is 33% of the entire market, that means the cryptocurrencies market will be a whopping $60 trillion, or 1/3 of all the money in the world.

Too crazy to happen? What do you guys think?

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@charteroakpublic
- a Telegram group with leaks from premium sources like Palm Beach confidential and more.

That was a typical Publicity stunt for Jhon McAfee ,ever since he mentioned that bitcoin will be worth 1m$ ,the video went viral and McAfee started mareting ICO's and other coins while getting paid . So yeah it's fair to say that his words were utter bullshit and based on nothing but a delusion to grab people's attention.
I'm not saying bitcoin do not have that potential but if it ever going to happen it's so far away and by that time the price of the USD would be worth less becaus of the inflation.

loading...

sr. member

Activity: 331

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Quote from: [email protected] on January 25, 2018, 10:30:17 AM

Both John McAfee (creator of the antivirus program) and James Altucher (entrepreneur, hedge fund manager and author) have made a claim that BTC will hit $1 million by the end of 2020.

That means that the market cap will be about $20 trillion or so. If BTC is 33% of the entire market, that means the cryptocurrencies market will be a whopping $60 trillion, or 1/3 of all the money in the world.

Too crazy to happen? What do you guys think?

-
-
-
@charteroakpublic
- a Telegram group with leaks from premium sources like Palm Beach confidential and more.

Yes it could be possible. BUT every higher demand of money there will be a great exchange too. It may cause a higher transaction fees if have a chance. There will be advantage and disadvantage in every aspect.

raviabbott

newbie

Activity: 3

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If it hits that wonder what the transaction fees would be lol

[email protected]

newbie

Activity: 35

Merit: 0

Both John McAfee (creator of the antivirus program) and James Altucher (entrepreneur, hedge fund manager and author) have made a claim that BTC will hit $1 million by the end of 2020.

That means that the market cap will be about $20 trillion or so. If BTC is 33% of the entire market, that means the cryptocurrencies market will be a whopping $60 trillion, or 1/3 of all the money in the world.

Too crazy to happen? What do you guys think?

-
-
-
@charteroakpublic
- a Telegram group with leaks from premium sources like Palm Beach confidential and more.

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