Bitcoin Forum

When we came across same types of speculation from forum members, we have ended up arguing "too early".
Still I did read same kind of predictions many times here, probably time frame was different. But now it's time to consider these predictions serious.

Read more here : https://www.cryptocoinsnews.com/bitcoin-will-hit-1-million-5-10-years-says-paypal-director

A near $20 trillion market cap would be over twice as high as gold.

If it became some type of global reserve that's possible, but I really can't imagine any government or central bank gritting their teeth and hitting that buy button on Yobit.

If it became the de facto reserve for regular people that's conceivable too. In my entire life I have only met two people who owned any gold. I think it would require a few more decades though.

If you are saying that bitcoin will need few more decades to hit $1 million, then I think you are right.  It is quite impossible to reach the $1million target in just one decade.  There may be a general adoption of bitcoin but there will be resistance.  This resistance will slow down bitcoin price increase and might pull it down again and again.

That Xapo guy said the same thing 3 years ago:

https://www.youtube.com/watch?v=eL1M1rsSfsU

Why stop at 1M, why not 1B?

Good idea. Let's do that instead.



That's what he latched on to the moment he got into it. He seems to regard currency and retailing as a sideshow and is going for the gold aspect. I think he'll be proven right.

Make it so.

Make it so. Indeed
How time flies even if he is the CEO of Xapo we got a Paypal director on board the Choo Choo Train.

“Put 1% of your net worth in Bitcoin and forget about it for 10 years” Casares added, baiting new investors to adopt the cryptocurrency"
It works.

This has been an over rated price than what's been predicted earlier by blockchain CEO and Snapchat bitcoin investor which was around $5000000, that too has got a longer time period as the prediction was focused 2030 to be the target. Here in 10 years time that too higher than the past predictions make it hard, but I believe the expertise view vary from the view of us. Hope this to happen and change our lives.

No one can deny the fact that we reaching all time high price, trading volumes, and amount of transaction but we should be a little bit more realistic here. I mean we are not even able to get the SegWit/BU story behind us, being a dreamer is not the solution at the moment. That being sad, I believe that we could reach that milestone but It could take much more then 10 years.

Yeah agree by seeing many pump occur in this year till bitcoin price can touch $2300 maybe one decade bitcoin price can touch $1million. of course if some countries will legalize bitcoin too like japan.

If every American put 1% of their net worth in Bitcoin it would be a cash injection of $247 billion - 309mm Americans , av net worth approx $80,000 x 0.01, where would that take the price?

I've read somewhere an estimate of $250 billion of proper cash would push the price to over $80,000, but I think it would go far, far higher. Sellers would go on strike. But if the expenditure stopped it wouldn't make for a pretty sight.

I'd be more than happy if BTC reached 10% of that ;D

I'd be happy if/when the price reaches $10,000 per coin, that'll be me cashing out 75% I think.

Why $1 million, when it can be $1,000 or $1? Predictions should not be taken seriously even if they are from big personalities (or in fact, especially if they are from big personalities:) ).

Should we not buy if 90% people predict $100? Should we buy if 90% people predict $1 million? No and no:)

Obviously that completely depends on how many coins anyone has, but I think most would be off their rocker to get rid at that price level. A $10,000 bitcoin means it's broken out of its hole and it's just starting to attract mainstream money.

By that price people will have been tempted to sell at multiple occasions along the way but one does have to enjoy the profits and spend them otherwise HODL till death which would be less fun.
Nearing the Gold holders 1% level

Wonderful, the price of the bitcoin makes everyone amazed, I hope so that I will continue to buy, hold and would never sell bitcoin. There was no word late to buy because the price will continue to skyrocket.

That means mining will be so difficult actually 500 times more difficult than now, because when you think

about it you'll see that if people could mine Bitcoin for less money spent they would.

By then when difficulty is so high but for what, use that much energy just to earn money.

I will however hold at least 2BTC no matter what the price is. lets hope price rises near $3000 for now and then we'll think about the future.

Mining is significantly more than a 1000 times more difficult than it was when the BTC price was $2.5, and also significantly more efficient on kW/hash basis. that said there is a breakeven where Block reward = energy invested in mining + profit margin, so yes price appreciation drives more energy spent on maintaining the chain, this is why at some point halvings wont result in price increases anymore - but in the meantime what's the excess energy capacity globally?

This prediction will be successful in near future also the blockchain ceo confirmed that it will be at a half of miliion dollar will be price on every bitcoin / 1 bitcoin I think it will more be difficult to get bitcoins if this happens on that year.