Bitcoin Forum

-

Bitcoin will never be  a mainstream worlwide currency.The governments and central banks won`t allow it.
Why do you think that the "low cap" is a problem?I don`t care about the btc price.
It`s not about the price,it`s about the unique transaction system and the unique concept.

1 BCT=100 million satoshi
21 million BCT= 2.1 quadtrillion satoshi
1 BCT=$1,000 per BCT
21 million BCT=$21 billion dollars
100 million satoshi=$1,000
2.1 quadtrillion satoshi=$21 billion dollars
You figure the rest.

That is a fine idea, the only way to make bitcoins unstoppable is to raise its value up to $100,000 dollars. With only $1000 at its current price there is a tendency that it will be affected by huge deflation but if it reach that high in value such deflation will not cause panic to bitcoin investors. The only way to strengthen bitcoin is to promote it more so we can reach a higher demand that can match up to that value.

How did you know that 21 billion USD as market cap is not enough for bitcoin to survive? Bitcoin might be affected by the market cap, but it will survive even if there's deflation in the market.

It is definitely not going to be $1,000 per coin forever and so we hope it will keep pumping  up as and when we need it to and so it will increase the market cap correspondingly.

Thats I want to say.They create Bitcoin for decentralization even a Bitcoin price is will up or down this is the sign that Bitcoin is popular and alive.

i dont think that it will be doomed since the goverments and most banks wont allow it !

i can't see how there is a connection between the two things you mentioned, marketcap will grow when there will be more adoption, now bitcoin is not in the currency phase, it's in the speculation phase, when the former will be a reality you will have a greater marketcap that will allow bitcoin to be used as a currency


i think they can't stop it, because the bitcoin value is determinated by many country not a single one

Even if banks and government are gonna try to stop bitcoin it is useless since it's price is determined by the whole world not them. Even if bitcoin were not to rise because I too don't see it as one that will really be used as a mainstream currency but rather as a method to pay someone online in the future, it will have such good prices even if the total supply of bitcoin in the future is only 20,000,000 BTC.

What do you mean by promoting it? I think many people already promote bitcoin everywhere and the fastest way is by gambling though. Because this affect your whole of bitcoin from transaction, being anonymous and make a new address. From the start till end you already got it just from gambling though. So what is bitcoin missing again? Good promoting with some payout is been done years ago and until now too

Bitcoin as a cryptocurrencies has it owned limitations and also advancement. The bitcoin market cap grow was shorting by ignorant promoter and scammers sites. We hope bitcoin should grow to the level were it will be accepted worldwide.if bitcoin's price get to $100000, good for bitcoinist pioneers but it will be difficult to get it and the elites will dominate it and if that happened, the nature of bitcoin as a decentralized currency will be undermined.

Thoughts? What the fuck are you talking about!? If people lose their bitcoins yours are now worth more. Good for you, bad for them. The 20million or 21million is a number that will never change so in the future when bitcoin prices have levelled out then you can expect them to hold value rather than the value decreasing every single year. Google inflation.

Well I don't know but for me it doesn't really seems to be doomed,
First of bitcoin was created for the anonymity of it's user and also to stop the 3rd party payment like what Paypal do,
And the price that keeps on changing is also a good sign that there are a lot of people that are using it and adopting to it.

Hello 2011.  :D

That is just another clear reason why bitcoin might be doomed. If government on every country starts to put a mass ban on bitcoin, the future of bitcoin i guess is totally over.

This is the exact reason most of the community is involved in crypto. The hard limit means price of BTC will go to the moon as it gets more and more used by the public. And we always have smaller units like satoshi for ease of use.

Before bitcoin was invented it was thought that you can't have an independent currency, one that's not issued by a country.
I see a bright future for BTC, and it doesn't have to reach $100k to be recognizable and function as a currency. It will never be something like USD or Euro, because it can't be printed and devalued. It's a completely different thing from fiat.

This is one of the first few things I heard people talk about bitcoin. It can be divided into really small units that even with the price increasing people would still be able to use it, they just use ever smaller amounts of it. I see this most often with signature campaigns. Whenever there's a price hike then they just start paying less bits.


Well just a few days ago the central bank in my country released a statement that they recognize bitcoin as a legal mode of payment. Mind you this is still a rather underdeveloped country that relies on remittances from abroad. Other countries with similar circumstances could follow suit and should that happen then it'll probably become harder to get bitcoin completely banned globally.

Yes you are right. Values Bitcoin is becoming more and more every day. I am sure that this coin is just beginning to exist and has a great future

Maybe you are right, $100,000 is the serious price per coin. But $2000 is possible this year, so this is 42 billion USD it already changing the opinion or is not?
Why not price rise in next two years on $4000

We can easily in theory go to at least a 500 billion $ marketcap as Apple has a 600 billion $ one and their just a company while Bitcoin will become the major payment system on the Internet.

You really cannot compare it with consumer products .Bitcoin is a currency and it is literally in its infancy ,even if you look at the history it took a really long time to change from barter system to currency and it will take some time to change the concept of fiat currency to digital currency and if more people are willing to use bitcoin as a form of digital currency then the price will increase exponentially.

I could have sworn that I saw something like this a month ago, with the exact same wording.

The cap means it will never grow in numerical size, and your investment will never lose value due to inflation once everything has been mined. A larger cap would not help either.

Bitcoin is likely not supposed to be a spending currency, and likely it was meant to be a way to secure and maintain wealth, considering it was distributed after 2008, after an event which lost a large amount of people their money.

Having a bigger cap will not make the market cap go up. Bitcoin would likely be valued at a similar market cap with or without larger BTC caps.

This is an irrelevant argument and pretty useless for discussion imo.

In january 2017, consumer spending in the united states for the year topped out at $11,640,000,000,000.

If there are 20 million bitcoins, 1 btc would need to be worth $582,000 & all btc would need to be spent in a 12 month period to match that.

If each bitcoin was worth $58,200 and each btc was spent 10 times in 12 months, that might get spending numbers near to that amount.

Or if each btc was worth $5,820 and each btc was spent 100 times in 12 months, that might work too.

Volume and exchange rates could factor into it to some degree.

That is the main problem of bitcoin as it is online currency and the fiat currency will be their always as both are different and both have their own values.

youre write about 2011 , bitcoin price still in one dollar
you want bitcoin price down until reach 1 dollar, i think much people not want bitcoin crash and down

It won't change, you can't exclude 5% from 21 Million, in the end of mining process, there will be still 21 Million bitcoin even though some had lost. Maybe $1000 is not enough for bitcoin and market cap, but we know the price will increase and worth more than $5000, some people speculate it will reach $25,000 US dollar, no one knows for sure but bitcoin doing so well for now, people still interested to advantages of bitcoin, it's inevitable.

The unit of bitcoin is infinitely divisible, we will never run out of supply, the more people hoarding bitcoin, the higher the price will go, and the smaller we can make the units if btcs keep getting lost. Your issue is not a problem so stop worrying about that stupid shit.

you are too succinct to declare bitcoin has no future,What you describe is also wrong as there were only 21 million bitcoin  if you already you know bitcoin certainly know what that means miner, you can earn bitcoin by solving a difficult algorithm and the maximum number of bitcoin will continue to grow as the number of bitcoin miners

Thoughts on what exactly?

You don't offer any thoughts of your own as to:

• Why a currency cannot exist if the market cap is low?
• Why a currency cannot exist if the market cap is irreversible?
• Why you don't see a future in BTC?
• Why must BTC rise to $100,000 per coin to have a future?
• Why the price of BTC rising to $100,000 per coin is unlikely?

My thoughts?

• A currency can exist with a low market cap as long as people decide to use it for exchange of value
• If the currency can't lose value, can't realize inflation, the market cap can't be reduced
• I see a big future in bitcoin and the blockchain technology that supports it
• Bitcoin doesn't have to rise to $100,000 per coin to have a future; But if it did, the exchangeable division of bitcoin could support a price of $100,000,000 per coin as 1 satoshi is 1 hundred millionth of a bitcoin
• The price of BTC rising to $100,000 per coin is a as likely as bitcoin disappearing form relevance - no one knows for sure

Any other "brilliance" to discuss?

your logic is so funny!

price only changes based on adoption in other words demand. and the current demand is around the $1000 price and more.
being a currency has nothing to do with the price, you can still use bitcoin even if its price is 1 cent just like that guy who used 10000BTC to buy a pizza.
the more people use bitcoin, they increase this demand and increase the price over time.

Indeed, before bitcoin became 1000$ almost it takes 8 years try to calculate how many years will it take before it will become 100,000$ of each bitcoin. But, still this will depend in the community of bitcoin industry in the entire world. And if there's nothing happen in the development of bitcoin, like what he/she said anyone are free to live this bitcoin industry.

Exactly. Just a simple supply and demand dictates the market price of bitcoin. That is why it is so important for bitcoin to be mass adopted globally, so meaning more is demanding about bitcoin, the higher the price of bitcoin will be. Yes, $100,000 per coin maybe beyond possibility, we don't need that kind of market price, what we need is just around $2000 from the current price to really see the value of bitcoin. Investors, common users, merchants etc will reap the benefits once we got to $2000.

No Bitcoin is not doomed because of its Market Capacity. It is even good for Bitcoin to have a limited number of coins in circulation the more limited the supply the higher the demand and price it will get. Also why are you worrying about all the 21,000,000 Bitcoin? There is still a lot left un-mined and it is most likely that it can still be mined for many years because of the halving process it takes frequently.

That is very true that when the supply is lower or lesser than the demand then the price could actually go higher. In the case of bitcoin it will take more long years to reach a 100,000 dollar value per coin and it could only happen if bitcoin is well distributed all around the globe and has reached a million or billions of user across the globe. Hope it reach that value very fast.

Indeed, and the good thing is, we dont need bitcoin to reach mainstream status. if Bitcoin becomes a trusted gold alternative, we can reach $100,000 easily. But BUcoiners are too stupid to realize this so they would rather turn bitcoin into paypal if they need to.

This is the correct explanation.

I don't get it why people assume that number of 21 million of BTC is ultimate number of bitcoin users.
We don't need to own 1 whole bitcoin, not when 1 BTC is divisible to 8 decimal places.
If we wanted to we could recreate whole economy having only couple bitcoins left.

I agree, if there would be a time that there would be more than 21 million users then they could share more that 21 bitcoins as it is totally divisible. The problem here is that the prices when that time comes would be exorbitant and the fees would be extremely impractically especially if you only use up a few satoshi per transaction. This should be resolved.

I thought we got past this argument in 2011? 21 million coins is completely arbitrary. Any number, including 1, is enough bitcoin to supply the world. There is no bitcoin, just percentages of bitcoin. like a pie it can be cut ever smaller.

You're missing a point that Bitcoin can be cut down to small pieces. Well of course I can't blame you to make assumptions like that because we are in this field where we really should think of the future of what we are working. You're point is what if all the losses ( every system has a loss ) became so big that Bitcoin will run out of supply. Well it is possible ( even the fort Knox is said to be running out of gold ) but it will happen if there's a bug that ruined almost all of bitcoins.

Well it can happen but we're not letting this to happen. Just work wise and hard don't over think and help this community grow even more.

I guess many people have already said that Bitcoin in infinitely divisible and it "can be cut down to small pieces"

So there is no cap on how much one bitcoin can cost (1K or 1M dollars per coin), at least, theoretically. In practice, though, I also think that such prices are unlikely (I refer to 1M dollars, of course). But you still forget one important aspect which everyone here forgets to mention (I didn't read the whole thread but I bet that no one mentioned it). In short, you don't take into account money velocity, i.e. how often a given bitcoin changes hands within a certain period of time. Why is this important? The reason is quite simple, higher velocity effectively rises the number of coins in circulation. For example, if we have 20M bitcoins and one bitcoin changes hands once a year, then increasing velocity just two times (i.e. the same bitcoin would change hands twice a year) will have the same effect as if there were 40M bitcoins in circulation. Thereby, we can conclude that the number of coins as such is not a very meaningful measure itself if we are to consider events in progress as they are in real life

Bitcoin will be an additional currency while users will actively perform transactions. The depreciation of the coin is not ruled out, but it is too early to think about it.

Agreed, if 100,000$ happen into bitcoin it will surely many of the bitcoin holder will become rich at once. But 2000$ this year was really achievable to be happen like what happened at the present time now the value price of bitcoin was 1315$ which is not bad and getting higher  in progress.

Well, I dont understand why bitcoin has to be a currency used worldwide, or even in some country. It is just a first cryptocurrency that has been ever made, it does not mean that it is something which cannot be improved.
Who said that it is necessary for bitcoin to become a cryptocurrency which will be used in every single country at the world, as a main payment option. I dont think that this is even possible, because many reasons (market cap, as you have already said) for example, as far as we know only Japan government wants to adopt bitcoin, but other countries for now have not chosen.
Anyway, any country won't implement bitcoin as a currency because of one extremely important issue: they cannot control the emission of this crypto, and they basically cannot influence it in any way except through the market.