Bitcoin Forum

That brief article is really nice, but some people are posting negative comments on it.

just Google "wsj Bitcoin Price…to $1 Million?"

but now is only $430.

Absolutely! And the price was just half a cent five years ago (mid to late 2009)!

keep dreaming. with a limited supply of only 20 mil it will likely take decades, if it survives that long.

eventually the banks will come up with their own universal form of payment, its just a matter of time.

Hmmm, I'll drink whatever he's drinking ...

$1 million x 12 million BTC = $12 trillion market capitalization?   ???


It's maybe possible that digital currencies could be worth $1 trillion in the far distant future but I see that being split between a dozen or so coins.

Well, I wouldn't mind stashing a few bitcoins on a paper wallet in my vault for a decade.    

1T market cap seems very feasible and it could happen in a decade.

They already have...it's fiat currency and it's destroyed economies and wrecked planets and bankrupted societies and it has failed in every nation who adopted it.

Once general society understands they're not obligated to use a forced currency and can choose, the only thing they will choose is the secure bitcoin that gives them back their power, control and wealth.

Yes, that's why 1 btc = $100,000 is more likely compared to 1 btc = $1 Million.

Let's concentrate on 1000 first wtf

Right, and the people of the world will JUMP at the opportunity to be fucked into neo-slavery by the banks a second time around.  ::)

+1

I can't imagine it happening anytime in near future. Let's get realistic. The total value of all $$$ in circulation is only about $1.27 trillion. Even in some extremely unlikely scenario the BTC is able to overtake the USD, even then the value will be much lower than $1 million. Here is why.

Value of 1 BTC = 1.27 trillion / 21 million = $60,476.

I believe you are off by a long shot  the total world 'currency' ( USD isnt the total world currency, and bitcoin is a 'global' currency)value is about 77 trillion. making 1 bitcoin well over 1 million usd each.

For btc to reach $1 Million mark, there will need to be adaption on a truly global scale.

Another point to note here is that Just two U.S companies 'APPLE' and 'EXXON Mobil' combined are worth nearly $1 trillion in Market capitalization. Souce: http://en.wikipedia.org/wiki/List_of_public_corporations_by_market_capitalization

I don't see how that could be humanly possible, but could you imagine the thefts that would occur on a daily basis? People would be kidnapped and held ransom for their btc wallets

Yeah, that's true, it would almost be like having uhhh.... money.

And it will be centralized, unlike bitcoin ;)

Agreed, but that would still be cool.  8)

Keep in mind, by the time Bitcoin hits this price, there will have been years and years of extremely expensive prices for just 1 Bitcoin.

VERY few people will be holding a lot of Bitcoins.  Even at today's prices, very few people have the majority of the coins.

By that stage, MANY long time holders will have cashed out, bought things, etc.

The # of people who actually hold large amounts of Bitcoins at that stage will be *so* few, that its really no different than the few people today who are Billionaires.

So I wouldn't worry too much about mass kidnappings and ransoms.   The days of $1 million bitcoins will be a very different landscape.

-B-

+1

I tend to disagree. According to the latest estimates 47 people hold around 30% of all the coins in circulation.

https://bitcointalk.org/index.php?topic=316297.0

I dont think anybody would pay $1m for 1 btc.

I'd say we're looking at 5 years maximum.

I personally think, that 1 milion is not real or that far in the future that it doesnt matter.
Real price is 10 000$ per BTC in 2-4 years

Not a article to belive as the price of 1 BTC =$1 Million

This guy is on crack.

Well 1 million is a lot but the price could snowball if Africa and South America start getting into it. I wonder what market cap is needed for the price to be relatively stable. Because even if it achieves stability a lot of stuff can happen.

Current Doge value is .00000102 BTC, which (if BTC were 1 mil each) would put Doge at $1.02 each.  Because I believe in the future, and I'm a nice guy, I'll sell 50k Doge for 25k USD RIGHT NOW.  Get a headstart on the future and double your profits.  PM me for trade, will use escrow.

Articles about BTC possible prices are pretty much meaningless, BTC could reach as high as a million dollar or as low as one based on the buy/sell ratio and general desire to acquire Bitcoins.

He may actually be right on his outrageous looking valuation..!!
Anyone who bought $100 worth of bitcoins back in 2009 and held them till today would be sitting on nearly $10 Million worth of assets. Yes, because at that time one bitcoin was worth around half a cent and now same bitcoin is worth around $400.

So far, Bitcoin has proved to be the best investment of this decade.

made me laugh. You sure are a nice guy.

Exactly. No one can predict the future prices. Did anyone thought in 2012 that BTC will ever hit $1,000?

I'd say you'd have a way better chance at seeing btc at 0 than at 1mil or even 100k... This down trend is getting more and more severe I'm not really sure why you guys think we will be hitting even 1,000 anytime soon.

Actually in the US there is MUCH more "money" than the $1.27 trillion because banks loan out money, but the "backing" for those loans is based on loaned money, which is also backed by loaned money - and this goes on several levels deep. According to Ron Paul in End The Fed there is probably less than 10% of the "money" in banks is backed up by real US dollars.

I may not be explaining this exactly right. I read End The Fed like 3 years ago.

Can you explain why ?

wow i really thought 1mil/btc was impossible but with that total market cap its very possible, time to start saving.

You also have to take into consideration the availability of technology to be able to implement it as a worldwide currency... Anyone can have access to dollars because they can hold it in their hand, such as people in Africa. They cant hold bitcoin in their hand, because they need advanced technology, and people in Africa have little to no access to advanced technology as of right now. This is also the case in other LDCs (Less-Developed Countries). One might say it does not matter because LDCs don't really help the world economy, though. Its all a matter of opinion.

You'd be shocked how many cellphones there are in africa

The USD Cap is in the Trillions. Bitcoin cap, a mere 7billion or so? Bitcoin will never reach 1million, if it does, then that means

1) All fiat currency magically disappeared off Earth
2) You're dreaming

Can you guys please get realistic, Bitcoin hasn't been stable and stayed at 1,000 per coin. It lost more than half it's value again...If it keeps going on this trend, then that means Bitcoin may very well never go above say, 2,000 per Bitcoin..

let me guess... 7 ?

Is that the number ?

But are they Iphones? or flip phones? And will the people (of Africa) even be exposed to bitcoin? Or will it only be exposed in MDCs?

Litecoins at 1 million sounds better haha

Litecoin is a copy and that can't be denied, doubt it will even reach half of Bitcoin's value

Next question: What will $1 million be worth in ten years? :)

Even better question!

47 wallets. not people.

Check the link. It talks about individual users, not wallets.

And you can prove that it's individual people how? You can't.

Too low  ;)

If bitcoin become the currency of the virtual world which make the physical planet its sub-set, then 1 bitcoin might buy you a whole city in the physical world, but of course by that time no one will be interested in that, since in virtual world there are much more interesting things that cost less

By that time, people's monthly consumption in virtual world would be magnitudes higher than the consumption in physical world, and fiat money will be too inflative for those virtual consumptions (you need at least 1 million dollar to buy any thing meaningful in that virtual world)

Super Mario Draghi has just decided that buying bonds outright is even better than just money printing  >:(

it is like force feeding money to the market

So, why not $M bitcoins? In 1923's Germany, a loaf of bread was 1 Trillion. It all depends on the money supply you know  ;)

Sell EUR scamcoin!

 ;)

I'm being more realistic and saying it will reach 100k with market cap around 1t within about a decade.
Yes that is huge growth and I believe it based on bitcoin's merits.
I think in 100 years there will be only crypto or value backed currency, no fiat.

Well... right now it is the only (semi) accurate analysis available. We have no other options.

Decentralization, No interest on lending, No inflation and substantial privacy is the key to the success of Bitcoin. I seriously doubt banks can offer anything even remotely close to it.

World's Banking and Lending system is designed to suck blood out of public's veins.

So if we concentrate we will push price higher? I like this idea.  


:P

maybe Diet Dew
personally i think it's worth $23 MILLION. 

short term is imposible.But when most of the people realise that fiat is manipulating nations and as new generations grow older they will ask for a decentralized coin.World cant go on with the curent economy system.
 

No offense everyone - but by the time BTC == 1 Million, you won't be able to buy much with a million.  Like maybe small condo or Something.  It will be like fast food workers make 100 bucks an hour because that is the new minium wage.  something akin to where 10 dollars in that future economy holds the purchasing power of one dollar today.  So sure, spend up your 1 million dollars here and there, but that won't mean much if that happens  :-\

These silly predictions do more harm than good for adoption of BTC.

I will eat a dog turd on live web cam if Bitcoin hits $1 Million a coin :D (and enjoy it.)

It will not happen in our times. The bitcoin price is oscillating at 425 to 450 for last few days. We should concentrate  to reach $500

Yeah no. Unless there is a massive devaluation in fiat so that the price of BTC skyrockets I'm skeptical we'll even reach 10K per coin before 2040 let alone one mill per coin. You guys are really dreamining a little too big here  ;)

Some old Bitcoin experts actually have the technical data to forecast such a high price! Not saying that they are right or wrong, but these guys have been right in the past with regards to pricing forecasts!

See their opinion here:

https://bitcointalk.org/index.php?topic=366214.0  (https://bitcointalk.org/index.php?topic=366214.0)

https://bitcointalk.org/index.php?topic=345065.0 (https://bitcointalk.org/index.php?topic=345065.0)

Again, in my opinion, $100,000 is more probable and likely compared to $1 million in medium term.

Possible. But if 1 Bitcoin is 1 Million Dollar worth the price for 1 small McDonalds Meal will be around $10.000. ;)

+100

Because now possible investor thinking, the Bitcoin dreamer are totally fools.

Widespread adoption would be necessary to enable such prices to occur, and honestly I feel that people view Bitcoin as a medium of investment rather than an alternative payment system it is designed to be. As such it is not going to ever reach the same degree of 'value' as fiat takes up unless it replaces fiat and since I'm doubtful of that happening by logic I'm extremely doubtful of reaching even 10K.

Heres a hint 1T is not that much money these days.

7 billion people spend 100$ thats close enough to 1T a day we burn through in this world, and $100 is a low estimate, and each year the wealth builds as you build on all histories preceding infrastructure.


21T is a bit, but not that much, good for about a month of spending for the world if that, and thats only needs, not investments etc.

So can BTC get to the value of 1 months spending for world, sure can.

This conversation and arguments sounds totally absurd at this point of time when we are struggling to get back to 1000$ , why don't just concentrate on that..! rather 1m$ that is quite impossible in our times..! I'll be more than happy if we achieve the 10k mark in next 5-10years.

It's a good dream, what's the point if we can't hope right.

Soooo much blasphemy in one thread?!?! WTH? Of course btc will go that high!  ;D

I think it depends on what the world decides it wants Bitcoin to be.

If it is steered into becoming digitally turbocharged gold rather than a day to day currency then a mil feels more likely.

And people keep forgetting that market cap is an academic figure bordering on irrelevant in the real world. There'll be more hoarding. The 21 million total is a fairly long way off yet and a big chunk of the coins that were mined are already gone forever.

There's an awful lot of value out there beyond fiat currencies looking to be parked, exchanged and moved around.

I think that the opposite is true. At least some institutional investors will take notice of BTC, and will start investing in it.

Yes, and it looks like some of these institutional investors are already taking notice:

http://www.entrepreneur.com/article/230346  (http://www.entrepreneur.com/article/230346)
[Article: Wall Street Will Put 'Hundreds of Millions' Into Bitcoin]

That is real great news.


Yuck.... you can do whatever you want, as long as you don't force us to watch what you are doing.

:D
At least you could afford a good counselor afterward!

once the price starts to stabalise people will just use paper wallets as money.. i just see the only difference being the paper wallets have scratch card type stuff on them to cover the private key or have to be peeled apart to reveal the private key.. would that not be that same thing as "holding" usd.. people will accept them because they no they would be able to go into a shop that sells them and sell them back to them or give them to someone else as "money"... no idea how they would prevent counterfits but im sure someone will come up with something