Bitcoin Forum

The total Bitcoin supply is limited to 21 million. Out of that, the market has lost, likely lost, or unmined 36% of the coins. That amounts to 7.56 million bitcoin units that remain inaccessible owing to human errors. It leaves the bitcoin market with the remaining supply of 13.44 million tokens, the last of which would come into existence by the year 2140.

Consider each BTC will cost $1 million, then the total market capitalization of bitcoin would become $13.44 trillion.

It would make the bitcoin network richer than China, the world’s largest companies including Amazon, Apple, and Facebook, and even the world’s top 50 billionaires combined. Moreover, BTC would become equal to 11.7% of the world’s GDP, 19.5% of global stock markets, and 32.5% of the total money supply – all on a bitcoin-against-the-other basis.

Bitcoin is the talk of financial sector for some time now . Top wealthy investors and Vcs wants to buy it all , but there is only a limit . If they want to buy all also its not possible as it will surge the market cap too high way too quick and the price will rise so fast that even those top wealthy people dont want to buy at such high prices.

So my question is will it reach 1 million as is predicted or its far fetched?

*Calculation Source - newbtc.com

What does it matter how much fiat people think it is worth?
What is the difference between 1 x 0 or 100,000,000 x 0 or 100,000,000,000 x 0?

At the end of the day 1 btc = 1 btc

Looking at the nature of the entire crypto ecosystem, it is very possible for the price of Bitcoin to hit 1 million and it is also impossible. Bitcoin market is piratically unpredictable. Today for instead, I woke up to see the price of Bitcoin at $10600 and within some hours the price dropped to $10271.66 at the moment of making this post. The market is not really predictable.

*we need to wait

Or, given that 1 BTC is actually composed of 100 000 000 satoshis, meaning nearly 2 100 000 000 000 000 satoshis in total, but unrelated to your outrageous price i already answered to in the other thread (https://bitcointalk.org/index.php?topic=5167337.0), it basically means that, no, it isn't getting to that price.

Either way there is a cap. Yes, 21 million sounds scarcer than 2 quadrillion*, but the net effect is the same. It is a deflationary currency surrounded by a world of inflationary money.

*Quadrillion in the short scale (https://en.wikipedia.org/wiki/Long_and_short_scales) used by Americans and many English speaking countries. Its actually just 21 hundred billion in the long scale (https://en.wikipedia.org/wiki/Long_and_short_scales) used in many more countries...

Correct! But even if the unit remains same, the purchasing power varies and that's what is being speculated by the OP! Till the time bitcoin is adopted worldwide at government level, there's no way people will stop comparing bitcoin units with fiat!


Good subject for day dreaming! It's indeed great to dream myself as a billionaire while sleeping and roaming around the city in a Lamborghini with hot chicks around!

Not sure i can say its impossible,and not sure i can say its possible. because the market is highly unpredictable. Won't happen at once of course.

no offense, but I think you should call John McAfee for him to come in this thread give your opinion on this topic and talking about of the time traveler

https://i.imgur.com/bY9iMjF.gif

about your thread, I think we will not see this price of 1 million dollars per bitcoin, is a very high price... at most we can see the price of $250,000 next 30 years from now and if it has a global adoption.

Actually John McAfee made that prediction sometime back you should have probably make reference to that first, and speaking of btc hitting 1million usd, i don't see anything wrong with it from an investor perspective ;D   afterall it is what 99.9% of crypto community wants only   a small fraction talks about the technology (i.e if there is)  this forum is a typical example of the 99.9% who are more concerned about price ;D

I think 1 million dollars is an overestimation. We are expecting Bitcoin to hit the $20k mark but it is still lingering around $10k. 1million $ is too much. Let us hope for $20k by the end of the year.

With the latest news that I've read about him, he's at the middle of the sea and is being chased by the CIA.

Eccentric Crypto Rebel John McAfee Says the CIA is Chasing Him (https://www.ccn.com/news/john-mcafee-out-at-sea-running-from-cia/2019/07/19/)

John McAfee goes dark again, claims CIA in pursuit (https://finance.yahoo.com/news/sea-john-mcafee-goes-dark-100018935.html)

Honestly, I would want to see bitcoin hit $1 million but if that comes for sure I don't have bitcoin anymore. But realistically speaking, estimating or thinking that it's possible to happen - it is possible. However, we can't be sure on how long we have to wait until that time comes.

Just to be safe, I'm starting to lower my expectation and it's just about $100k - $250k and if it hits $1M by surprise, we'll it's a great achievement not just for bitcoin but for the whole community.

Everything will have their time and Bitcoin hitting 1 million is not impossible but it will take a lot of time before it hits to that price. But i don't know if we are ever alive during that time, so what's the difference of thinking too much if Bitcoin ever hit 1 million if you don't get it when you were still alive? I can't imagine if there is still Bitcoin during that time since we all know technology keeps growing and growing.

I wish to see that with bitcoin, and if that things happen for sure 1Lambo will cost more bitcoin because of the inflation rate happening with fiat money. Everything is possible with bitcoin, even if this is a much speculation there’s still a chance. We just need Craig Wright to say more about Satoshi in the future, and a lot of hype.  ;D

Although, 1btc will still be 1btc but if Bitcoin clinch the price range predicted it does matter cause it shows that Bitcoin does proof the reason behind it creation and the governments which are against and thought of it as scam will later take back their false/FUD statement.

call me crazy, but double the market cap of gold doesn't seem too outlandish to me. i dunno about timing, but i could see it happening within the next decade maybe.

people underestimate just how limited the supply is---21 million coins (20% of which might be lost), for 8 billion people, investment banks/asset managers, central banks? most of the supply will probably be sucked into a black hole, hoarded away. i could see $10 million happening in my lifetime too.

you are getting 2 things wrong.
we are not yet at 21 million and we won't do that for a hundred year, we have only mined 17.8 million so your percentage should result in 6.4 million lost.
and that percentage (36%) is your pure guess. there is literary no way to measure how much bitcoin is really lost. all we can say is that certain "burnt" coins are actually lost and their total is not bigger than a thousand. the rest is pure guesswork.

bitcoin is not a country, nor a company nor a person that you are comparing it with them!

stats from 3 years ago says it is $80 trillion which makes this percentage 26% if that stat is still correct.
this is the only value that makes sense because bitcoin is a global currency and it needs to be compared on that scale and with its counterparts not other things such as stock market!

people don't buy 1 whole bitcoin and they don't have to. bitcoin is divisible and they don't buy by looking at the total price, they buy either to reach financial freedom and get free of censorship and corruption of the banks or they are buying it to make profit from the potential growth that bitcoin has.
neither of these are affected by the price.

it is not far fetched, it is far away. because we need to reach mass adoption for such price levels to become a possibility. i don't see any reasons mentioned here that suggests otherwise.

It's only 100x the current price. When we were trading near $200 in 2015, reaching $20K sounded equally as ridiculous. But we reached it by 2017, just a couple years later. Crazy, right?

Bitcoin will continue to defy all expectations. Typical bulls are aiming at $50K. I'm aiming closer to $13 million. :P

I don't see the price gonna hit that far, and less likely with the time left we had regarding the bull run and the recent all-time high of $20,000 USD its unlikely we can just hit $40,000 to $50,000 USD this bull season, And the price of bitcoin right now is taking resistance and dropping back to $9000 USD level is an indicator that was not gonna make a $1 Million Price, Well it is not always increased in price but we are still experiencing some dip and correction so the possibility of a Million price isn't possible. 

Really this coin has gotten features to surprise the market. We have people in the market who have had great number of Bitcoins and they have been predicting about the market as well for long. John McAfee is one guy who has been in the news a lot because his predictions about the rise of the coins have always been positive. This time, he expects Bitcoin to cross one million dollar.

Just because the price is taking a few steps back after having moved forward by dozens of steps, doesn't mean we should discard the possibility of Bitcoin reaching $1 million at some point in the future.

I'm quite sure that when Bitcoin was hovering around the $10 mark, people similarly said no way that Bitcoin will ever reach $10k with how unrealistic it looked at that point.

The problem with people is that when the price is going up they feel comfortable throwing $100k predictions left and right, but the moment the price is correcting they can't see how Bitcoin will ever reach such levels....

A million dollars for the price of 1 btc is very certain but it's not happening this year nor in the year 2021. Probably in the next five to ten years as any sudden increase in price will be unhealthy for the market. So give it time and see what it can do as this market is very much unpredictable.

Moreover, there are certainty that this year ending will close with a better price than last year. The price maybe just around 10k  now, but I see it reaching 30k this year ending (my predication though).

As what the market shows us, everything can happen, who would have thought that the price could zoom to $20k? But as far as reaching $ 1 million, it make takes years though. Just imagine the amount of money needed to push to that levels? Where should that money come from?

It might take 2-5 years or even more to accomplished that, institutional investors, gold bugs shifting to bitcoin and even self made billionaires and tons of individual around the world pouring their money to be able to reach that price.

Bitcoin hits 1 million and the price of a loaf of bread at that time is, would be a better question.   We need to base these wild prices against something that isnt dollar itself, because dollar has no fixed value.
    Thats the problem with any long term projection, if the ground is moving then how can we state anything.    We navigate on ships by using the stars or any point which is outside our other changing variables.   Thats how we'll discover accuracy vs this kind of question.   Of course most will dismiss it as impossible but who would want to be wrong and find BTC could reach this price.

The hell, year 2140?
C'mon, will you even see paper at those times. Perhaps they will be using plastics as means of payment because of the lack of trees all over the world to create another paper.

It wont matter anymore and you are going way far where you wont be alive to see it.
I understand 5 to 10 years of prediction but never a century or more.
Get real.

Without a date of when will the price would hit $1 million I think it can happen after several years depending on what would the price look like in the next few years. If Bitcoin goes on another price snowball I think it could peak at $1 million.

If the increase happens in a short time I would agree that such correction is to be expected but it's one of the many scenarios. It could also slowly increase in the future until it reaches the price and the correction could be avoided.

I do not think that the price of bitcoin ever rises to one million dollars. It is unreal for our physical world. If bitcoin grows even by a quarter of this price, the subsequent correction after such an increase will be so big and protracted that I am not even sure whether we need such an increase in bitcoin.

Eventually it will, people are missing the point of what 1 million per bitcoin means, it doesn't mean right now, it means eventually and gradually because bitcoin has already reached 20 thousand dollars and some people believe the true price of bitcoin should be around 50 thousand dollars, now if you put inflation on top of that 1 million dollars in few years doesn't sound insane.

Now, I am not saying it will be 1 million dollars in 2020 but why not in 2030? That sounds logical, maybe even 2040? That sounds even better. Now, you may think "that is a lot of waiting period for something to go up" but if you think about it the price is 10 thousand dollars right now, if it reaches 1 million dollars that means x100 return on your investment in 10-20 years, nothing can give you that much return in that time period.

I guess it is definitely possible, but it also depends on how long you can give it to be 1 million. Are you sure you won't sell when it is 50k? Maybe at 100k? Definitely would sell at 500k? So, that means if you are selling, why wouldn't others? Everyone would sell if they make enough money.

Hence, the problem is not that bitcoin won't reach 1 million, it might be one million in year 2060 as far as we can assume (and maybe some of us will live that long, definitely not me) and that means the possibility is there. However, if you believe for one second that bitcoin could be one million dollars in the next 3-5 years than you must be crazy, that is way too much money that goes into bitcoin to do that and people with that kind of money will not use it to buy bitcoin for sure.

It makes sense if this history will occur with limited Bitcion capacity only 21 million pieces,
Thus not to mention the carelessness of humans will come, this can make bitcoin more reduced from 36% will decrease.
This will be the price of Bitcoin in a certain year can be broken at the level of $ 1 million or maybe more, because the stock is already scarce.
So thus including the other coins the price will increase with the reason people switch to lower prices, the opportunity for prices to increase by 80% for other coins.

No it wont!

Even on my dreams this price isn't possible to be hit up by Bitcoin.Imagine on how much 1-10-100 sats value would be?

Even if all big institutions/companies/industries would tend to adopt bitcoin.It wont really be enough to reach up those numbers.

$50-60k maybe but for 1M? Its too exaggerated.

Having that said that bitcoin has that kind of characteristic but thinking of $1M is unreal to tell you honestly. Sometimes our imagination is working on and we would want to see it but it's all just about dreaming all day long.

It is unpredictable but we are not very much convinced that bitcoin will hit that price as predicted though there's a chance and possibility but it's very minimal. $100k is possible but multiplying that with times 10, I can't imagine on how much the total market cap would be and how long it will take.

i think so, that price is too high in my opinion. even for all people in the world to use it, such a high value is an impossible price for a cryptocurrency. whereas other commodities which are more valuable from any aspect than bitcoin, doesnt have ``that high value. I'm sure bitcoin prices will continue to rise, but 1 million dollars sounds impossible to me