Bitcoin Forum

wat ever the price of Bitcoin their is no doubt the value of the Bitcoin network and its "users" is astronomical

http://orig05.deviantart.net/ae04/f/2011/019/9/9/futuristic_city_3_test_by_rich35211-d37li6m.jpg

A marketcap of 20 trillion would mean 1 million per coin. Doable if we see people trying to get rid of idiotic capital controls all over the world, people diversifying their portfolio instead of trusting their gold will be safe forever, people wanting to send money without getting ripped off by Western Union, people not wanting to be ripped by insane taxes.. the USD debt is 20 trillion alone. We only need small 1%'s of here and there to make it.

yes i agree the capital controls are ridiculous and in most cases are really just a disquise for blatant corruption and fraud

This is how much time must pass  :(

a little bit unrealistic in my view but a market cap of 300-500 billion is reasonable in the next 10-15 years.

We have a proven track record of turing unrealistic impossible and unimaginable into reality

When everybody knows and starts using bitcoin, it might be possible though. As there will not be an unlimited amount of coins.
I wonder what will happen to bitcoin when it doesn't give any mining rewards anymore, will bitcoin crash and how do we get confirmations?

Reasonable ?! Really ?! You have been here long enough to know that price and reason have little to do with one another.
Same thing goes to the current price, which doubled with almost zero exposure (exposure followed the price for most of the time, not the other way around like it was expected to)
Bitcoin network could be worth both 1 million and 1 trillion in 10 years, and whatever the outcome turns out to be, there's no way of predicting it, we can just guess.

Bitcoin is designed to ALWAYS give mining rewards.  The mining rewards are the sum of the block subsidy plus all transaction fees from all transactions included in the block.

The block subsidy is designed to start at 5,000,000,000 satoshis per block and to be cut in half (and rounded down to the lower satoshi in the case of fractional satoshis) every 210,000 blocks (approximately every 4 years). At the moment the subsidy is currently 2,500,000,000 satoshis per block, and it will drop to 1,250,000,000 some time next year.

At the moment the block subsidy is MUCH higher than the sum of the transaction fees, so people barely notice that the fees are contributing to the value of the mined block.  Eventually the subsidy will be small enough that the fees will be a substantial percentage of the total reward.  The subsidy will continue to shrink every 210,000 blocks (approximately every 4 years) until somewhere around the year 2140 the reward will shrink from 1 satoshi to 0 satoshis.  At that time the reward will be entirely made up of the transaction fees.


No.


You mean after the year 2140, when we are all dead and gone?  You're worried about how you are going to get confirmations after you are dead?

Confirmations will continue to happen exactly the way they do today.  Transactions will be broadcast with transaction fees.  Miners will choose the transactions that pay the highest fees and build a block from them.  Then they will solve the block and broadcast it, collecting the transaction fees as a block reward in the process.

It all depends on how much money enters Bitcoin. There are people that hold their investments in gold or others for years and years. If more and more people choose Bitcoin to do so, then Bitcoin will rise its price exponentially.

average "savings" of people is $45,000
so for a potential of a 20 trill market cap requires 444million people need to completely swap their entire life savings over to bitcoin.

to be honest.. thats a big ask.. and definitely not something that will happen over night
i would prefer to say people would on average invest $1-$5k, and 100million people done it..
which would still be $500billion market cap and a $24k per btc price.


but the funny part is... that even if people think bitcoin can take over the world enough to hold 400million peoples life savings... these speculators then do the stupidist thing ever.. valuate bitcoin back to the FIAT they claim will disapear..

it would be less stupid and less funny if these speculators atleast never mention FIAT, and compare bitcoin value to loaf's of bread, tins of beans or bottles of water.

The US national debt is 18 trillion dollars. It will be 21 trillion in the next few years. So if all the debt is bought with bitcoin, the price of bitcoin is over $1M.

I think we are up to this and that this is completely doable in the next 5 years. If we take care of our blockchain and keep improving it. If the world financial circumstances will go in our favor with hiccups here and there which should be a no Brainerd that it's going to happen looking at the situation in the world.

If the world doesn't ban us completely which I don't see happening. If they wanted to do something like this, they would already have started it.

Doable?  Probably not.  At least in our life time we will never see Bitcoin at 1million per coin..ever.  To speculate beyond 100 years is sort of silly Bitcoin might not even be around then.  Yeah the current system isn't perfect but until someone finds a better way it will be tough to do.

How is the bitcoin network worth so much? Based on what premise?

If bitcoin's network is worth so much, I suppose that the net worth of mastercard's network would be more that all money and everything of value  in the earth combined.

I would be thrilled if bitcoins reached 1-5,000usd within the next 10 years.

i have this ... 30 trillions = 1 BTC = 1,5 Millions USD.

http://imagizer.imageshack.us/a/img907/1327/2NKTRm.png

Why did you add the unmined bitcoins? You should consider the current situation...
And conclude the burned ones etc

people still dont get.. even people pasting in excel spreadsheets dont get it..

if bitcoin takes over 33% of the worlds currency. then..... THERE WOuLD BE NO DOLLAR and no one would care about a dollar value..

infact if it did happen
and dollar was still around.. it would cost $5,000,000 to buy a loaf of bread..

so all you 'lets destroy fiat' fan boys.. if your gonna predict fiat destruction.. stop measuring bitcoin to fiat
compare bitcoin to a consumer price index
compare bitcoin to how many loaves of bread it equates to..

but dont proclaim bitcoin will take over the world and then be sloppy enough to show a fiat price..

We should cheer each of those milestones.
Waiting for Bitcoin to cross paypal in valuation.  ;D

Bitcoins are now growing all over the world they are now used in many countries the network of Bitcoins is keeping on growing nowadays. The network of bitcoins is now spreading and now , it has reached above 20 trillion dollars. Bitcoins are now mostly used in US, UK and Australia, there are many people doing mining and trading there and it's the result of it that business of bitcoins is growing.