Bitcoin Forum

Do you think BTC will ever cost a millon dollars?

When?

Wrong section dude

Tooommmmooooorrrooooooowwww :-)

Edit: wait yeeeeesssssssssteeeeeeeerrrrrrdddddddaaaaaaaaayyyyyy

No.  I think the reasonable upper limit will be $300,000 in the next 10 years (and really I think $100,000 is a stretch).

ITT we find idiots attempting to get rich quick.

I am starting to think about selling some of the stash because these kind of threads are not good at all.

No. Never. Don't delude yourself.

23.05.2042

Bitcoin might reach $1,000,000 per coin by about the same time this question is asked for the 1 millionth time.

By December 31.

when people stop putting their investments into real estate and precious metals

When the last coin is mined.

And we will all be long dead on that date.

Well, except for me, because im gonna get cryonic-ized in a vat of liquid nitrogen and get revived. :)

It may, but I fear that loaf of bread could also cost $1M at this time.

Two more weeks.

Here's what I think.  Is is possible?  Yes.  Is it likely?  No.  If it's likely, then when?  2050

Hope that helps.

I have 1 BTC that I will sell for $1,000,000 right this minute. PM me.

Maybe in the next 100 years? Its so far away that you really cant make much of a guess...

If you purchase 1 Bitcoin for 1 million USD. You would be in the history of Bitcoin. It's well worth it. Also, when it hits the news and people come and invest the price should rocket quickly and we can all benefit from this.


To the question: No I don't think it will.

When the block reward halves about twice more, and is about to halve for the fourth time, we will finally rally up to $1M.

I don't think so, 1million is just too high.... $10,000 is more likely...

Not in our lifetime

I would shit myself.

i would hold, lmao as everyone runs to the banks.

I think it will probably exceed this amount suprisling soon.

That said, it might also take a wheel borrow full of cash just to buy a butterfinger bar. Hyperinflation is a bitch!

when 1 bitcoin was worth just three USD a couple years ago most said todays value would be a pipe dream.

Not if hash rate increase continue to outrun diffculty increase.

$1 M .. No Way  ;D

Yes way IMO!

That is one important point. At most there is an upper limit by 1 BTC = 1 mio USD. This is because of the divisibility:

1 BTC = 10E-8 Satoshi   and   lowest USD unit is 1 Cent

This implies    1 USD > 100 Satoshi

And vice versa     1E6 USD > 1E6 * 100 Satoschi = 1 BTC


The open question is then if the market can pump up the Bitcoin from its current level to above 1E5 USD.

There will be 21 000 000 bitcoins.
If 1BTC would be 1 000 000 mln dollars then I ask

is there 21 000 000 * 1 000 000 == 21 000 000 000 000 dollars in the world? (21 trillion dollars)

Yes, definitely!

The national debt of the U.S. already exceeds its GDP.  There are only two ways out of this situation -- fiscally responsible spending or hyperinflation and collapse of the dollar.  You've seen the way things are going.  Do you really think the U.S. government is suddenly going to become fiscally responsible?

Lol you made the comment I wanted to make. This holds true for every country btw :).

A better question would be "When can I buy a Bar of gold with one BTC" or "When can I retire (with no loss in income) if I have 1 BTC an average job"

Yes.

Soon.

U will be able to buy 2 cups of tea for that million bucks.

That is the magnitude:
http://www.tradingeconomics.com/united-states/money-supply-m1 (http://www.tradingeconomics.com/united-states/money-supply-m1)
http://en.wikipedia.org/wiki/Money_supply (http://en.wikipedia.org/wiki/Money_supply)

Surely the more tangible question should be, when will 1BTC buy me a huge house with a swimming pool, a Lamborghini, a Porsche for the missus and still leave me change for a around the world cruise and put my kids through private education.

That's precisely what I fear, that we're living in a dream and we are on for a harsh awakening :( I hope I'm wrong

How about 38 months ago when a bitcoin was worth less than a dime? $100 was a pipe dream.

Now the "crashes" in June 2011 and April 2013 seem like minor corrections along the way. Some day we'll see the crash from $2000 to $350 the same way.

Hold, hold, hold.

Holding is damn hard when you have to pay in fiat to live. Bitcoin can't be used for that so far. Until somebody manages to make a killer app or implement it so I can buy things, it's just a very good speculative instrument. And for me that is like taking your wobber out and pissing on bitcoin's ideology.

Bitcoin is gonna crash soon as everybody cares either for more fiat either for more fiat (you can see screamers saying they want more coins but in fact they want more coins to have more fiat)

Game over.

Most people would sell at $1000 so $1,000,000 is impossible...

Bitcoin $0.1 - most people would sell at $10
Bitcoin $10 - most people would sell at $100
Bitcoin $100 - most people would sell at $1000
...
..
.
.

at best do not sell at all. just keep the coins

Actually you can already buy lots of things with a Bitcoin Interac card.

Game just begun.

Sounds about as unrealistic as when people talked about 1000$ when the price was 1$.
Ask yourself if that still seems unrealistic, it is just a question of when aslong as bitcoin stays intact.

That brings up a really good point. Sure, a million isn't out the question if inflation hits the fan and shits the bed.

Feels like haggling

http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2013/11/Bitcoin.pdf

This hedge fund manager setting price target of 1 BTC = $1 million USD and re-iterate "Buy" recommendation.

It's completely possible that "most people" are selling at each price point you list above, it's just than every time there is a new larger set of buyers due to exponentially increasing adoption...

After these "psychologigal barriers" we had already two big drop downs. If this is so far the Bitcoin schema then I hopefuly wait for next big 'crash' to buy cheaper than now ;)
Bitcoin slowly starts to be talked about in mass media like tv/radio, developers will eventually make it easier for avarage non tech-nerd people so it should grow and grow. And then, when local greengrocer will start talk to you about Bitcoin, then it's time to sell.

You don't really need 21T$ for that. 1T$ is enough.
Anyway, dollar-hyperinflation is around the corner. We had hyperinflation of major currencies in the past, and will have it again.

1M$ for BTC might be reached easily this way. Of course this won't make you super-rich :-D

When it will happen? Right when China and other countries stop selling goods and resources to US for fiat paper.
Maybe next year. Maybe 2015.

impossible

thats why

21 millions btc  *   1 000 000 dollars equals 21 trillion dollars.  its not reasonable lololol

Hmm, dollar is not only currency you can exchange BTC for.
Even with hyperinflation of dollar, let's think. What is the % of internauts (not even avarage people that use internet occasionaly) that has some bitcoins? 1%? Maybe even no. And now imagine that 100% internauts bought some BTC like every of them has fiat money on internet bank accounts. How many will it increase oBTC value? 10 times, 100, 1000? I don't know but I am sure A LOT couse there is limited about of bitcoin.

That would take few hundred years when there is no such thing is miners...

hang on but M1 is not what btc is looking to replace, more like finical instruments etc, that a much bigger amount than M1.

Given we price companies in currency eg, apple IBM etc etc, and we are making a currency here, I don't see why BTC will be much Higher than 1T.

in 3 minutes. lol  ;D

I really don't think China and other countries will abandon the dollar anytime soon. If they wanted USD inflation, they could just sell all the U.S. treasury securities they hold. The entire reason they buy all these securities is to slow CNY deflation relative to USD. Countries with high trade surpluses with the U.S. would have the most to lose on USD inflation.

The US national debt worth $17 trillion.

The American financial markets, derivatives and unfunded liabilities exceeded $1 quadrillion.

However all that can be paid off by minting a quadrillion-dollar platinum coin.

They don't sell bonds only because there is no use for all these money. You literally cannot buy anything with it. Free market is an illusion.

And when whole world monetary system goes down - those wins who have real manufacturing facilities. Read China.

America have oil by annexing canada and mexico. America can seize natural assets by using its military. America has manufacturing capabilities, just it is not woke up yet. America has too many Zionists, that's a major road block to prosperity.

No need for quadrillion-dollar platinum coin, steady inflation will do the trick and interest from quadrillion-dollar debt can be payed. This inflation trick is cheat, but you should never ever save USD as investment  :)

So far dollar is more stable than btc ;p

If btc users save their coins, and they do not circulate, then btc which circulate gain in purchasing power.  When I last checked, the velocity of btc was 5.93, which is comparable to usd.  However, since btc is a superior  saving instrument, being deflationary, this velocity is likely to go down, driving up the value of a btc relative to goods and services.  You can't compare money supplies to estimate relative valuations.  You have to estimate money flows, M*V.

What is the velocity you are talking about? Any sources, explanations?

US external debt is almost equal to 21 trillion, or soon would be. and it's just one country. So in case US decides to pay off its debt in BTC (much more convenient than sending boatloads of gold), value would have to be at least 1 mil each.

Currently imported resources are free for US (payed with printed paper). Any military operation will be much more expensive than that.

http://en.wikipedia.org/wiki/Velocity_of_money