Bitcoin Forum

Bitcoin is use by at least 5% of the world as a payment method

I am thinking of if bitcoin used by the whole world 100% as a payment system what would be the price of bitcoin?

It will stable, but the price will drop.

Nonsense. It is used by less than 1% (< ~71 Million). In addition to that, there is no accurate way of measuring the usage of Bitcoin either.

How can you measuring that 5% people of the world that using the bitcoin, i don't think that it can measure, but if you are giving an example than the method payment will be depending on supply and demand. 

payment will drop. if bitcoin being used for 100% world which is likely impossible. how 100% can use bitcoin, even 100% can't have access to computer and internet?
it will take 100 years for sure.

In 100 years the encryption they use (and whatever encryption they try to move to) will have been cracked, and the concept of peer to peer currency will be obsolete, replaced by something instant and superior (no more waiting 10 mins for a transaction).  If the human race is still around, we will be more machine than man, and bitcoin will be a long lost memory.

dam vod way to bring me down lol

I kind of agree and now kinda sad about it  ;D

If that happen the price goes up because the bitcoin supply is not enough to the demand world wide. But the price will be stable at high price and the crypto currency will be a currency king after that

There is no any actual data available to suggest actually 5% of world population is using bitcoin as payment method. And if that will become in few years, i think price will be around 1k$ and lots of shop starting to accept bitcoin even some small shop will try to accept bitcoin.

I imagine that 5% would mean a huge jump in bitcoin adoption and therefore, the price will have increased due to increased demand/use. Somewhere in the few thousand dollar range at least. Just a guestimate.

That is not what the OP is talking about.

There is no way of measuring how many people are actually using Bitcoin, so this whole thread is wrong (just baseless assumptions and speculation).

Not just the percentage of people using it but the kind of market or how much money it has to be transacted with bitcoin.

Check out this article from Rick Valkvinge, it's prophetic:

http://falkvinge.net/2013/03/06/the-target-value-for-bitcoin-is-not-some-50-or-100-it-is-100000-to-1000000/

bitcoin will have a stable price. because if everyone was using bitcoin will appear many financial institutions that will guarantee bitcoin. the government will provide a guarantee. I think bitcoin prices will be higher than 2000USD. it is used as a prediction when bitcoin payment media global financial transactions.

it's hard to believe that soemthing can replace the blockchain as a technology, at best i cna see something which is an evolution an dno more than that, it's like saying that the information itself will be replaced, and not the way the information is spread across the world...

If I look at the total overall Bitcoin owned, then the price will be in the range of Bitcoin $ 1000-5000. Since the amount is far less than the Bitcoin population in the world. I hope the Bitcoin will quickly famous all over the world and give a positive impact to Bitcoin us who have long fought to introduce Bitcoin.

Here is one way of estimating the value: Assume 100% adoption means that all the money in the world is replaced by bitcoins. The base money supply is about $14 trillion. If that were replaced by the 15 million bitcoins in circulation, each bitcoin would be worth about $900,000. Take that number with a grain of salt. There are other significant factors.

its really happen that i never see about the official stats,can you give me the stats or any data that bitcoin use have touched 5%,i still can't believe it.

That's a very unusual way of trying to calculate the price for each Bitcoin. I don't think that it is possible to predict the price, as it will most likely end up being wrong by a huge factor (even if it did reach 100% adoption).

This calculation does not makes sense.

I concur. I think that stability of the price will be a positive factor in the long run.

The question should be how stable would the price per bitcoin be if mass usage happens in the future? Also, realistically speaking, you cannot calculate or even come close to what the price would be once everyone jumped into the bitcoin train. It's a crazy roller coaster that even in its stagnant state, there are still price swings occurring.

That 5% of the world's population is currently using bitcoin is non realistic due to the fact that one person can send from multiple wallets and would be seen as one, two or even a hundred people as the world's population in those transactions. There is no exact number to be stated in this falsified statistic.

At that time the stability will be attained by bitcoin and no matter how much will be the price everyone will love it as everyone want to see stability in its price, with that people will have believe on it and so they will not fear to put their money in bitcoin.

I think at that time the price will be much high maybe the price in dollars will increase to five digits, but it will take a long time to happen like that , I think it will require about more than Ten years, or if we struggled hard it will happen sooner.

If all people use bitcoin , bitcoin value will got increase since demand also got increase as bitcoin total amount only have limited amount.
Ofcourse this will happen on the future since many company start using bitcoin for their transaction

Exactly if bitcoin usage becomes more the demand automatically increases, the user adaption fact is that if price goes very high the users will probably be attracted on good range towards bitcoin.

what companies are using bitcoin to do their transactions? as far as i know the majority of the merchants use a payment service as bitpay to handle every bitcoin transaction. they don't do it themselves.

Nobody will know what the value will be and that is the problem, but you also never know what is going to happen and that can be also risky for you.
But as you can see you already see that the halving is coming and that can be nice for all of the people that is using Bitcoin.

Yes it is true that the price at that time will be stable and will be at a peak of its previous records, but will not drop back as at that time it will have achieved a good fame and everyone will give it the value which it desire.

Nobody will know what the value will be of Bitcoin and the reason is that Bitcoin is a currency so that is impossible to predict and we have to see and wait for what will happen.
And the chance is also high that the value keeps stable for a long time until the value will be more because the halving will be not that great to us.

That's not a problem at all. If you look at Bitcoin from that way then you can also point this way of looking at things at stocks, oil, Gold, etc...

If ever that happens then we could only expect for it's price to skyrocket due to enormous demand ratio to it's supply but this is considering all bitcoins are mined as well so no more added flow of supply to the network although the whole scenario is highly unlikely unless all other monetary options do fail in the first place.

Nobody will know what the price will be and that is because Bitcoin is a currency and that is impossible to predict for what the value will be and that is the problem.
But as you can see now you see that the value is rising slowly so it would be maybe more worth later.

Bitcoin value does not work like the values of stocks, oil, or gold.

Stocks have underlying value because companies produce things of value. Bitcoin does not.
Oil is consumed. If production goes to 0, so does the supply. Bitcoins are not consumed (except for lost coins).
Gold production depends on the price of gold. Bitcoin production is fixed.

If it wil be stable then how can you say that the price will drop? The stability mean that the price will not go up any more and will not come down. At that time everyone will have adopted it and everyone will have a suitable amount of it and so no drop and no rise.

Stability in price of bitcoin happens only at a limited time.  If the stability of price continues traders won't be experience a good increase in price. Nothing can be predicted exactly as anything might happen with the price anytime as it don't depend upon the world market scenario.

you cannot predict the price like this because an increase in percentage of people using bitcoin only means price rise but how much is not going to be clear since the price is also being controlled by other factors. so you can only be sure about the rise itself.

sorry no offense from which you obtained the data that bitcoin is used by at least 5% of the world as a method of payment if it is true I think the current price of bitcoin will be at the level of $ 1000 ++

At first, there is no chance that exactly every single person would use bitcoins, at least with the current condition and state of mind of the government because they'd probably manipulate and control the flow of bitcoin supply if that happens.

Hard-to-reach areas with no technologies (e.g. tribes and indigenous people) surely will have a hard time with these kind of transaction. They would either be forced, or eradicated (as what the government would potentially do). And it will be really hard to say the price if bitcoins become a global currency because there are so many factors to consider.

If its a 100% people are using bitcoin as payment.. maybe the price is stable at 1000 value and i think.. if all people are holding more bitcoin maybe the bitcoin value is stable..

it takes time to get to that level of adoption and be used by this many peopel all over the world so i think after that the price can be in 4 digits range very easily since it had break that barrier before i find it possible.

I do not like the price to be stable because it will ruin things for me. I can make money with Bitcoin but if the price is stable then that would change the way Bitcoin is mostly used.