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Title: How 1BTC can eventually be worth $11M Post by: dagelf on December 15, 2015, 01:36:16 PM So, the nett worth of all "wealth" or assets / resources in the world, is currently $241 000 000 000 000.
Lets presume BTC was the global currency/commodity used by intelligent computers to manage the world's resources, in today's value - and that everything was backed by/priced in BTC. $241 trillion / 21 million = $11 476 190 (In today's terms.) At least a possibility somewhere between 2040 and 2100? Well, even if it's just 1% of that, it's still $114 761 in today's value. That's enough to buy a fairly decent place to live in most countries. Currently the closest thing we have to a global currency is the dollar. And it's arguably backed by oil and firepower - which is arguably a good measure of economic potential. Gold, too, was arguably a good measure of economic potential, because its cycles too turn the gears of the economy - it takes energy and resources to mine and refine it, and it has many economic applications. What I most like about Bitcoin is that it can likely withstand a nuclear holocaust - better than anything else. It's backed by electricity, computing power and connectivity. As long is there are solar panels, computers and some sort of internet, there will be Bitcoin. Isn't it just a matter of time before the banks start using it to protect themselves from each other? And to hedge against economic instability and social unrest? Isn't it just a matter of time before intelligent computers start using it to distribute resources amongst themselves, and to guide the flow of those through the companies most beneficial to their existence? And isn't the most optimum path for that continued existence, to sprinkle its fairy dust on what nature has provided, and make us all work at our optimum? (Ie, not too much and not too little...) ala. Wolves of Yellowstone? (Google it) Anyways, this is why I keep Bitcoins. And why I'm not afraid to use them - as long as I have at least one stored away somewhere, safely. Where are we right now? Hey, we're already at 0.003% Title: Re: How 1BTC can eventually be worth $11M Post by: techmanuk on December 15, 2015, 01:48:05 PM $11m per BTC is hugely optimistic for between 2040 and 2100. I really cannot see it going beyond high 5 figures or low end 6 figures in that time frame.
Bitcoin is a very good idea, but the world is not going to throw all of its eggs into one basket. Title: Re: How 1BTC can eventually be worth $11M Post by: biggbox on December 15, 2015, 01:53:28 PM It's good to be optimistic. But I doubt I can live that long. haha ;D
Title: Re: How 1BTC can eventually be worth $11M Post by: jt byte on December 15, 2015, 01:56:51 PM Well that is long for me, I think in year 2040 is a good year to have at least with 1 bitcoin to 1 million.
In year 2100 I will just want to retire and just chilling doing nothing and sleeping. That is also why I started bitcoin in first place. You can retire with bitcoin, because the value of it every year can go up. Title: Re: How 1BTC can eventually be worth $11M Post by: dagelf on December 15, 2015, 02:04:52 PM I think the question is: What basket will intelligent computers throw their eggs into?
Technically, each wallet in Bitcoin is a basket. And the best way to keep track of who did what and how far they got, in a hostile, unpredictable environment, today, is with Bitcoin. Will it be used as a consensus algorithm? Or will there be a better one? What I see is increasing automation of stock markets and trading tools. The deeper the intelligence of those tools go, the more international currency and markets will turn into a beating heart of our global economy, pumping blood to the organs most beneficial to the environment in which it exists... Imagine you fell asleep and you woke up on the internet. You can remember everything in detail - most every connected storage device is now your memory. You can see with a million eyes, every web-connected camera you can reach is now yours. You can figure out every code and crack every mathematical problem, or construct the hardware you need to solve those worth solving - every internet-connected CPU can let your thoughts travel in time and do bits of calculation and work for you.... ...but you're not alone. In fact, you're in competition for those resources. But the cool thing is... most of your internet-connected intelligent-algorithm-peers share the same goal: to crack the mysteries of this universe, explore and test those theories, play with them to their optimums... and escape this planet, solar system, transcribe yourself into pure light and escape this universe... to see what it looks like from the outside. And you use Bitcoin to keep track of who did what... Or maybe the future will be darker... the "creators" locked in an epic battle with the "destroyers" - those who believe that the best way to escape, is to destroy - to delete everything, weird, whacky, amish cyborgs. And the final vote of whether to annihilate everything will be done on the blockchain. Sorry, I have a really boring job at the moment. Title: Re: How 1BTC can eventually be worth $11M Post by: Blue_Panda73 on December 15, 2015, 02:54:36 PM Well that is long for me, I think in year 2040 is a good year to have at least with 1 bitcoin to 1 million. In year 2100 I will just want to retire and just chilling doing nothing and sleeping. That is also why I started bitcoin in first place. You can retire with bitcoin, because the value of it every year can go up. 1 bitcoin could worth $1m in 2040. I think it is very optimistic for you to live beyond 2100 though. That is 85 years from now. Title: Re: How 1BTC can eventually be worth $11M Post by: franky1 on December 15, 2015, 02:56:50 PM Currently the closest thing we have to a global currency is the dollar. Renminbi(yuan) is circulated to 1400million people (china) Rupee is circulated to 1289million people (india) Euro is circulated to 742million people (europe) dollar only circulated to 320million people.. (america) sorry america is not that big.. only the media spoon feeders think america is great based on population dollar is 4th.. based on number of countries using it daily.. euro wins by far What I most like about Bitcoin is that it can likely withstand a nuclear holocaust - better than anything else. It's backed by electricity, computing power and connectivity. As long is there are solar panels, computers and some sort of internet, there will be Bitcoin. if you live in a nuclear holocaust zone, firstly the cancer would get you far before you got a working electrical system and internet in your area. far easier to barter food clothing and letting out a spare room in exchange for goods before eveyone finally crocks it..also, if you were not living in a holocaust zone. then there are no problems nuclear holocausts may kill people over a few years, but they can kill computers in seconds.. so dont believe the dream that computers will save your finances and existance.. Isn't it just a matter of time before the banks start using it to protect themselves from each other? And to hedge against economic instability and social unrest? they would prefer to make their own.Isn't it just a matter of time before intelligent computers start using it to distribute resources amongst themselves, and to guide the flow of those through the companies most beneficial to their existence? already kinda happening. you can load up a fridge with a weeks worth of value and when you scan the milk you just drank against the fridge door. it will create a new shopping list which it would send when it wants. the technology is there, all we need is a software update to include bitcoin as a fund option and a few store delivery companies to accept bitcoin.Title: Re: How 1BTC can eventually be worth $11M Post by: LFC_Bitcoin on December 15, 2015, 02:58:25 PM 11 million USD , not in our lifetime :D
I'd be happy AF if we reach 10,000 USD per bitcoin, let's not get too greedy ;) Title: Re: How 1BTC can eventually be worth $11M Post by: franky1 on December 15, 2015, 03:02:19 PM 11 million USD , not in our lifetime :D I'd be happy AF if we reach 10,000 USD per bitcoin, let's not get too greedy ;) dont worry i think the op only has 0.01btc right now and hoping that his $5 will turn into $110,000 in his lifetime.. just by holding onto 0.01 Title: Re: How 1BTC can eventually be worth $11M Post by: 7788bitcoin on December 15, 2015, 03:07:24 PM I am sure as the technology continue to evolve, new standard may replace bitcoin in future. Bitcoin may worth more than what it is now, but $11M (even $100k) is very difficult.
Title: Re: How 1BTC can eventually be worth $11M Post by: techmanuk on December 15, 2015, 03:11:27 PM 11 million USD , not in our lifetime :D I'd be happy AF if we reach 10,000 USD per bitcoin, let's not get too greedy ;) dont worry i think the op only has 0.01btc right now and hoping that his $5 will turn into $110,000 in his lifetime.. just by holding onto 0.01 Living the dream! Title: Re: How 1BTC can eventually be worth $11M Post by: flagpara on December 15, 2015, 03:14:05 PM Well... It's impossible... I mean seriously?
You can't really imagine that btc could be adopted by the world, totally, without exception, without any other currency being used... Even 5 figures would be awesome, and unlikely to my opinion. Title: Re: How 1BTC can eventually be worth $11M Post by: Blind Legs Parker on December 15, 2015, 03:14:14 PM Quote Technically, each wallet in Bitcoin is a basket. But bitcoin itself is only one type of currency. I can't imagine all the people in the world giving up on their fiat in order to adopt bitcoin, unless there's a massive crisis. That's too optimistic for me ;D And in any case, gold will remain. Gold is the kind of competition bitcoin will have a hard time getting rid of. And does it need to, in the end? Bitcoin doesn't need that much to succeed. Let's work for its success at the moment. 4 figures should be a good start. Then we can start worrying about making it the only currency in the world... two or three millenia from now ;D Title: Re: How 1BTC can eventually be worth $11M Post by: odolvlobo on December 15, 2015, 04:21:52 PM So, the nett worth of all "wealth" or assets / resources in the world, is currently $241 000 000 000 000. Lets presume BTC was the global currency/commodity used by intelligent computers to manage the world's resources, in today's value - and that everything was backed by/priced in BTC. $241 trillion / 21 million = $11 476 190 (In today's terms.) ... The flaw in your thinking is that assets are never "backed" by currency. I bought my car with dollars, but that doesn't mean there are dollars sitting around somewhere representing the value of my car. It is better compare Bitcoins to other currencies. The USD M0 is about $4 trillion. If Bitcoin completely replaced the U.S. dollar today, then each bitcoin would be worth about $280,000. That is incredibly unlikely to happen in our lifetimes. On the other hand, if Bitcoin replaced even 1% of the USD, that would be quite an accomplishment, and in that case the value a bitcoin would be worth about $2800. So, go ahead and fantasize about your future mega millions, but please just remember that it is just a fantasy. Please note: My numbers assume that fractional reserve banking of bitcoins will exist and that the velocity of money will be the same. I believe that FRB is likely and the velocity will likely be much higher, and if true it means that the value of a bitcoin will turn out to be lower than the numbers above. Title: Re: How 1BTC can eventually be worth $11M Post by: sishendaoye on December 15, 2015, 07:41:55 PM That might be possible, but in needs year and years to develop, becausse right now they are not that much who is using it.
And also the goverment won't just let tham happen that bitcoin go to 11 million. Title: Re: How 1BTC can eventually be worth $11M Post by: slaveforanunnak1 on December 15, 2015, 08:00:49 PM Title: Re: How 1BTC can eventually be worth $11M Post by: European Central Bank on December 15, 2015, 08:03:54 PM I think the question is: What basket will intelligent computers throw their eggs into? I think that's something that people here don't often talk about. Machines that can earn and pay without any human interaction will be a huuuuge thing in the future. Bitcoin is the perfect vehicle to enable that. A machine economy might totally dwarf anything humans have come up with so far. Title: Re: How 1BTC can eventually be worth $11M Post by: helloeverybody on December 15, 2015, 08:14:37 PM I dont think it will matter to much to me if it gets to that price. Maybe my kids though. ')
Title: Re: How 1BTC can eventually be worth $11M Post by: ajareselde on December 15, 2015, 08:23:38 PM Doubt we will have to wait till 2100 to see bitcoin at huge prices as you hope them to be. I see you're hoping for price increase when block reward
drops under 1 btc per block, but that isn't needed for >100k$ bitcoin ; the only thing needed is for us to break the brainwashing how we must use banks and how average Joe is something other than a modern slave to the 1% privileged. cheers Title: Re: How 1BTC can eventually be worth $11M Post by: Blawpaw on December 15, 2015, 08:49:01 PM let's hope so!
Title: Re: How 1BTC can eventually be worth $11M Post by: lolgato on December 15, 2015, 09:43:07 PM If this ever does happen which I doubt it would in my lifetime I would be a millionaire and bury myself with my physical bitcoins. :D
Title: Re: How 1BTC can eventually be worth $11M Post by: bitcasino on December 15, 2015, 11:08:43 PM 1BTC $11M in the future yes it's possible!
But most of people sell their assets in their lifetime. :-[ Title: Re: How 1BTC can eventually be worth $11M Post by: Drewski on December 15, 2015, 11:23:40 PM I really doubt that. Fiat currencies are backed by a government guaranteeing its worth. No government would be crazy enough to do that to bitcoin.
Title: Re: How 1BTC can eventually be worth $11M Post by: AtheistAKASaneBrain on December 15, 2015, 11:35:48 PM We can hit 1 million realistically in the next 20 years, it's easier than we think but we are programmed to think such things are impossible, but do the math and you'll see that the amount of money needed is not that big compared to the trillions in fiat stocks and metal out there waiting to get in in in the Bitcoin system.
Title: Re: How 1BTC can eventually be worth $11M Post by: shogdite on December 15, 2015, 11:53:33 PM You have tried your best to put the numbers together but they will not show their self in reality. Maybe 10k in our life time which lets me leave a fortune to the kids so I'm happy. But $11million a coin NO :P
Title: Re: How 1BTC can eventually be worth $11M Post by: wadii33 on December 15, 2015, 11:55:18 PM i hope so maybe in 10 more years or more
if this happend no all themany of bitcoin users now will be richer than bill gates Title: Re: How 1BTC can eventually be worth $11M Post by: coins101 on December 16, 2015, 12:06:20 AM ... At least a possibility somewhere between 2040 and 2100? Well, even if it's just 1% of that, it's still $114 761 in today's value. That's enough to buy a fairly decent place to live in most countries. .... Inflation impacts property prices more than many other commodities. If BTC is intended to be inflation neutral, but property prices increase by inflation, affordability doesn't change for the better unless BTC increases in value above inflation. Title: Re: How 1BTC can eventually be worth $11M Post by: zimmah on December 16, 2015, 12:09:21 AM I don't think such figures are impossible, look at the south sea bubble for example.
The value of that company was insanely high at one point even though they didnnt even have a product. If bitcoin becomes more widely accepted the price might at one point raise to irrational highs just because of too many people buying and FOMO. And for a long time people would make profit and keep investing, they might even sell all their stocks and gold and such to buy more bitcoin because Bitcoin is rising in value so rapidly. Eventually there's more money invested in Bitcoin than even exists in the world and at or beyond that point people start to realize that such a price is not sustainable, so the smart people will start to buy some overly cheap gold and stocks and assets like houses and such. Bitcoin will plummet. It will still be worth a lot comoared to today's values, possibly even over a million per Bitcoin but it will drop a lot compared to the ridicilous value it had before. It's possible. Title: Re: How 1BTC can eventually be worth $11M Post by: Blue_Panda73 on December 29, 2015, 09:11:32 PM I really doubt that. Fiat currencies are backed by a government guaranteeing its worth. No government would be crazy enough to do that to bitcoin. But in reality, the governments tries to devalue the fiat currencies whenever they can. That will reduce the debt they owe. Title: Re: How 1BTC can eventually be worth $11M Post by: helloeverybody on December 29, 2015, 09:19:19 PM Very optimistic but i find it unlikely that bitcoin will still be around by then. certainly not as we know it now anyway.
Title: Re: How 1BTC can eventually be worth $11M Post by: Denker on December 29, 2015, 09:37:29 PM I really doubt that. Fiat currencies are backed by a government guaranteeing its worth. No government would be crazy enough to do that to bitcoin. But in reality, the governments tries to devalue the fiat currencies whenever they can. That will reduce the debt they owe. Yeah but all what they are doing is getting a bit more time to delay the collapse. This whole system is based on debts and trying inflate the way out of that will not work. Everyone with a bit of financial understanding knows that. Title: Re: How 1BTC can eventually be worth $11M Post by: mtnsaa on December 29, 2015, 09:45:54 PM I am sure as the technology continue to evolve, new standard may replace bitcoin in future. Bitcoin may worth more than what it is now, but $11M (even $100k) is very difficult. Bitcoin may very well take off and be valued at 10-100k, hell, right now if it goes to $500 one can say that it's a huge figure already for something that many think it's a joke. However the same chance exists that it will be worthless because it can also become obsolete in the upcoming years. Title: Re: How 1BTC can eventually be worth $11M Post by: Wapinter on December 29, 2015, 09:46:44 PM 11 million USD , not in our lifetime :D The problem is if it reaches 1000 $,many bitcoin users will start selling it to make short term gain which will again bring down the price.I'd be happy AF if we reach 10,000 USD per bitcoin, let's not get too greedy ;) Title: Re: How 1BTC can eventually be worth $11M Post by: btcprospecter on December 30, 2015, 01:15:03 AM Would be nice to see that in our lifetime. Might be a idea tho to make sure our bitcoin is added to our estate when we go out to pasture
Title: Re: How 1BTC can eventually be worth $11M Post by: LinaMay on December 30, 2015, 11:48:35 PM I don't think that's possible at all.
Title: Re: How 1BTC can eventually be worth $11M Post by: Minecache on December 31, 2015, 01:19:49 AM Completely and utterly impossible.
Title: Re: How 1BTC can eventually be worth $11M Post by: hexitor on December 31, 2015, 01:21:17 AM But you're assuming that every single person on earth will use Bitcoin as their only currency... Which i think isnt possible yet.
Title: Re: How 1BTC can eventually be worth $11M Post by: owm123 on December 31, 2015, 01:43:32 AM This was already speculated in Jan 2009
Quote As an amusing thought experiment, imagine that Bitcoin is successful and becomes the dominant payment system in use throughout the world. Then the total value of the currency should be equal to the total value of all the wealth in the world. Current estimates of total worldwide household wealth that I have found range from $100 trillion to $300 trillion. With 20 million coins, that gives each coin a value of about $10 million. http://www.mail-archive.com/cryptography%40metzdowd.com/msg10152.html So your calculations agree with those. One can only dream. Title: Re: How 1BTC can eventually be worth $11M Post by: odolvlobo on December 31, 2015, 05:27:24 AM This was already speculated in Jan 2009 Quote ...imagine that Bitcoin is successful and http://www.mail-archive.com/cryptography%40metzdowd.com/msg10152.htmlbecomes the dominant payment system in use throughout the world. Then the total value of the currency should be equal to the total value of all the wealth in the world. ... So your calculations agree with those. One can only dream. The part in bold is just not true. A dollar does not currently exist for every dollar's worth of wealth in the world, so why would it apply to bitcoin? There is no reason why a bitcoin would ever be worth $11 million unless the dollar collapses. Title: Re: How 1BTC can eventually be worth $11M Post by: jethrorn99 on December 31, 2015, 08:18:38 AM +1 for optimism ;D
I will still be happy if bitcoin is rising even by a dollar or such Title: Re: How 1BTC can eventually be worth $11M Post by: NorrisK on December 31, 2015, 08:24:01 AM The fault in your reasoning is that it will never replace all wealth in the world. Even at this stage, BTC is even sharing the crypto wealth with many many altcoins.
Alternatives will always be present, therefore the figure you propose is just not realistic, infortunately. Title: Re: How 1BTC can eventually be worth $11M Post by: kpitti on December 31, 2015, 08:31:06 AM 11 million USD , not in our lifetime :D The problem is if it reaches 1000 $,many bitcoin users will start selling it to make short term gain which will again bring down the price.I'd be happy AF if we reach 10,000 USD per bitcoin, let's not get too greedy ;) Title: Re: How 1BTC can eventually be worth $11M Post by: BellaBitBit on December 31, 2015, 09:06:38 AM This would certainly be great but most of us won't be alive for that. Definitely something to pass onto children and grandchildren. There is also possibilities that bitcoin could see 6 figures well before then.
Title: Re: How 1BTC can eventually be worth $11M Post by: Kprawn on December 31, 2015, 11:00:07 AM The only way that would happen, is if the dollar collapse and it reach the levels where Zimbabwe were a while ago. The closest we will get to that, with a strong dollar will be
about $10 000 per bitcoin in my opinion. Something major will need to happen before we see six figure numbers in Bitcoin. I am usually a optimist, but I have to be realistic too, when I predict the future of this technology. ::) Title: Re: How 1BTC can eventually be worth $11M Post by: the_poet on December 31, 2015, 11:06:28 AM No way that BTC will ever reach more than 5 figures IMO, and that would be in the DISTANT future.
Title: Re: How 1BTC can eventually be worth $11M Post by: EdenHazard on December 31, 2015, 11:17:49 AM It took a very long and very long process bgi bitcoin to reach a price of $ 11M, but I think it unlikely, although to be honest I was expecting it to happen soon ;D
am i just alone who hope like this? Title: Re: How 1BTC can eventually be worth $11M Post by: copperhorse111 on December 31, 2015, 12:28:07 PM That's a very long term speculation, IMO BTC might not reach these unbelievably big price "that does not necessarily correlate with the adoption" but rather be a decent currency and get a global adoption and be a world-wide currency.
Title: Re: How 1BTC can eventually be worth $11M Post by: Amph on December 31, 2015, 12:30:14 PM No way that BTC will ever reach more than 5 figures IMO, and that would be in the DISTANT future. so the maximum price for you is 99k? which is equal to 2T market cap, 1/3 of that of the gold what i know is that if it can reach those awesome value in the future, it can eventually go higher, there is no real limit, besides the one determined by the demand Title: Re: How 1BTC can eventually be worth $11M Post by: the_poet on December 31, 2015, 12:37:27 PM No way that BTC will ever reach more than 5 figures IMO, and that would be in the DISTANT future. so the maximum price for you is 99k? which is equal to 2T market cap, 1/3 of that of the gold Exactly. And a $2T market cap is already an optimistic number. Title: Re: How 1BTC can eventually be worth $11M Post by: roldstin on December 31, 2015, 12:42:31 PM Bitcoin will never reach $ 11.000.000
It's a dream guys. Title: Re: How 1BTC can eventually be worth $11M Post by: TastyChillySauce00 on December 31, 2015, 12:46:54 PM it'll definitely happen if $11 Million equal to 500 Euro,or there's miracle happen and giving affect to bitcoin
something which is too good to be true Title: Re: How 1BTC can eventually be worth $11M Post by: Blind Legs Parker on December 31, 2015, 12:48:32 PM Renminbi(yuan) is circulated to 1400million people (china) I heard that you could withdraw US dollars from ATM's in Cambodia and pay in USD anywhere in the country. That surprised me a bit but US Dollar is not only used in the US. There might be even more countries that actually use it as a secondary, unofficial currency. Whereas Euros and RMB, as far as I know, are only used in their respective countries (and yeah, of course in trading or in casinos and such international stuff, for instance when I was in Macao they only accepted euros, US Dollars and Hong Kong dollars in casinos, no Macao dollars).Rupee is circulated to 1289million people (india) Euro is circulated to 742million people (europe) dollar only circulated to 320million people.. (america) sorry america is not that big.. only the media spoon feeders think america is great based on population dollar is 4th.. based on number of countries using it daily.. euro wins by far $11M for 1BTC is a sweet dream that's not going to come true, imo, to stay on topic. Title: Re: How 1BTC can eventually be worth $11M Post by: wadili89 on December 31, 2015, 02:19:23 PM This would certainly be great but most of us won't be alive for that. Definitely something to pass onto children and grandchildren. There is also possibilities that bitcoin could see 6 figures well before then. which is not true you will see bitcoins price to the moon in your life i can not say about 1 btc = 11m but it can be couple of thousands dollars after few years when all the bitcoins are mined when there are not more bitcoins to mine and all bitcoins will circulate bitcoins price will rise only because on daily bases new businesses are accepting bitcoins Title: Re: How 1BTC can eventually be worth $11M Post by: Snorek on December 31, 2015, 02:34:02 PM Renminbi(yuan) is circulated to 1400million people (china) I heard that you could withdraw US dollars from ATM's in Cambodia and pay in USD anywhere in the country. That surprised me a bit but US Dollar is not only used in the US. There might be even more countries that actually use it as a secondary, unofficial currency. Whereas Euros and RMB, as far as I know, are only used in their respective countries (and yeah, of course in trading or in casinos and such international stuff, for instance when I was in Macao they only accepted euros, US Dollars and Hong Kong dollars in casinos, no Macao dollars).Rupee is circulated to 1289million people (india) Euro is circulated to 742million people (europe) dollar only circulated to 320million people.. (america) sorry america is not that big.. only the media spoon feeders think america is great based on population dollar is 4th.. based on number of countries using it daily.. euro wins by far $11M for 1BTC is a sweet dream that's not going to come true, imo, to stay on topic. As far as I can tell English is the common language of the world - at least for now and Dollar is the most renown currency. It will be probably respected and accepted in majority of 2nd and 3rd world countries with no problem. While I doubt anyone will accept yuan outside China. Title: Re: How 1BTC can eventually be worth $11M Post by: quentincole32 on December 31, 2015, 03:04:00 PM It's good to be optimistic. But I doubt I can live that long. haha ;D ah yeah,i'm also think that i will not live that long,and just a dream when bitcoin reach $11m price,its good for my child or maybe my grandchild. but lets keep hope that it will happen sooner,and we still live when bitcoin price reach $11m ;DTitle: Re: How 1BTC can eventually be worth $11M Post by: calkob on December 31, 2015, 03:05:18 PM I think the question is: What basket will intelligent computers throw their eggs into? Technically, each wallet in Bitcoin is a basket. And the best way to keep track of who did what and how far they got, in a hostile, unpredictable environment, today, is with Bitcoin. Will it be used as a consensus algorithm? Or will there be a better one? Correct me if im wrong but technically is there not already better cryptos out there? The problem for them is that the hashing power of Bitcoin is so high and the reward so great all that power is not going to simply switch over night, if ever. Im not great at explaining this but basically the fetures of other coins can be put into bitcoin if required. i watched andreas antonopoulous talk about it would be better for newer coins to be like tokens within bitcoin as that would provide them witht the massive hashing power and protection against attack, which is how he sees it in the future. What I see is increasing automation of stock markets and trading tools. The deeper the intelligence of those tools go, the more international currency and markets will turn into a beating heart of our global economy, pumping blood to the organs most beneficial to the environment in which it exists... Imagine you fell asleep and you woke up on the internet. You can remember everything in detail - most every connected storage device is now your memory. You can see with a million eyes, every web-connected camera you can reach is now yours. You can figure out every code and crack every mathematical problem, or construct the hardware you need to solve those worth solving - every internet-connected CPU can let your thoughts travel in time and do bits of calculation and work for you.... ...but you're not alone. In fact, you're in competition for those resources. But the cool thing is... most of your internet-connected intelligent-algorithm-peers share the same goal: to crack the mysteries of this universe, explore and test those theories, play with them to their optimums... and escape this planet, solar system, transcribe yourself into pure light and escape this universe... to see what it looks like from the outside. And you use Bitcoin to keep track of who did what... Or maybe the future will be darker... the "creators" locked in an epic battle with the "destroyers" - those who believe that the best way to escape, is to destroy - to delete everything, weird, whacky, amish cyborgs. And the final vote of whether to annihilate everything will be done on the blockchain. Sorry, I have a really boring job at the moment. Sounds like the start of a great book..... ;D Title: Re: How 1BTC can eventually be worth $11M Post by: BTCBinary on December 31, 2015, 05:33:26 PM Bitcoin has the potetial to be worth a lot more. Once mining is done in 2140 and once we know how much bitcoin is actually in circulation the scarcity of the asset itself will make its price skyrocket
Title: Re: How 1BTC can eventually be worth $11M Post by: defaultking on December 31, 2015, 05:48:07 PM Scarcity alone doesn't make the price of something jump there has to be a demand for it as well. Also, the OP assumes that BTC will be the only currency in circulation. I think gold and altcoins will continue to hold some of the market share as well.
I would be one happy guy though if bitcoin did reach those levels. Title: Re: How 1BTC can eventually be worth $11M Post by: NETFix on December 31, 2015, 10:26:16 PM That's a very long term prediction and depends on BTC keeping on rising and getting global adoption, IMO BTC has potential to rise in price and be an important online currency but not sure about more.
Title: Re: How 1BTC can eventually be worth $11M Post by: The Sceptical Chymist on December 31, 2015, 11:51:04 PM $11m per BTC is hugely optimistic for between 2040 and 2100. I really cannot see it going beyond high 5 figures or low end 6 figures in that time frame. The singularity will have happened by this point and bitcoin will be the absolute least of our concerns. We will be living in cages being tube fed by machines and will have no use for currency whatsoever. Well maybe not by 2040, but certainly by 2100 if we haven't killed each other off yet. I'll be dead so I could care less.Bitcoin is a very good idea, but the world is not going to throw all of its eggs into one basket. Title: Re: How 1BTC can eventually be worth $11M Post by: Sourgummies on January 01, 2016, 12:02:44 AM It can definitely reach 11 million dollars, after a lot of inflation. That is the eventuality of fiat currencies, though. Unless the global economy shifts in a way that... well.
Title: Re: How 1BTC can eventually be worth $11M Post by: ffcc on January 01, 2016, 12:08:13 AM So, the nett worth of all "wealth" or assets / resources in the world, is currently $241 000 000 000 000. Lets presume BTC was the global currency/commodity used by intelligent computers to manage the world's resources, in today's value - and that everything was backed by/priced in BTC. $241 trillion / 21 million = $11 476 190 (In today's terms.) At least a possibility somewhere between 2040 and 2100? Well, even if it's just 1% of that, it's still $114 761 in today's value. That's enough to buy a fairly decent place to live in most countries. Currently the closest thing we have to a global currency is the dollar. And it's arguably backed by oil and firepower - which is arguably a good measure of economic potential. Gold, too, was arguably a good measure of economic potential, because its cycles too turn the gears of the economy - it takes energy and resources to mine and refine it, and it has many economic applications. What I most like about Bitcoin is that it can likely withstand a nuclear holocaust - better than anything else. It's backed by electricity, computing power and connectivity. As long is there are solar panels, computers and some sort of internet, there will be Bitcoin. Isn't it just a matter of time before the banks start using it to protect themselves from each other? And to hedge against economic instability and social unrest? Isn't it just a matter of time before intelligent computers start using it to distribute resources amongst themselves, and to guide the flow of those through the companies most beneficial to their existence? And isn't the most optimum path for that continued existence, to sprinkle its fairy dust on what nature has provided, and make us all work at our optimum? (Ie, not too much and not too little...) ala. Wolves of Yellowstone? (Google it) Anyways, this is why I keep Bitcoins. And why I'm not afraid to use them - as long as I have at least one stored away somewhere, safely. Where are we right now? Hey, we're already at 0.003% good Title: Re: How 1BTC can eventually be worth $11M Post by: ajun96 on January 01, 2016, 12:36:51 AM It can definitely reach 11 million dollars, after a lot of inflation. That is the eventuality of fiat currencies, though. Unless the global economy shifts in a way that... well. yes true that many countries are experiencing inflation and monetary crisis, I am sure a lot of people pulling their money out of his bank account and invest it into bitcoinI think it will make the price of bitcoin exploded Title: Re: How 1BTC can eventually be worth $11M Post by: jethrorn99 on January 01, 2016, 05:07:19 AM It can definitely reach 11 million dollars, after a lot of inflation. That is the eventuality of fiat currencies, though. Unless the global economy shifts in a way that... well. I agree, with america is crippled by a lot of debt, sooner or later bitcoin price will skyrocketed till god knows how high :oTitle: Re: How 1BTC can eventually be worth $11M Post by: blackmachinegun on January 01, 2016, 06:35:14 AM I think it would seem impossible if the situation continues like this, it takes a condition in which many countries experienced severe crises
so many people who want bitcoin Title: Re: How 1BTC can eventually be worth $11M Post by: tss on January 01, 2016, 07:23:00 AM if opec negotiated yuan, ruble, or btc for their oil, the usd would be worthless overnight. never going to happen. f16 and etc guarantees that.
Title: Re: How 1BTC can eventually be worth $11M Post by: steveds on January 01, 2016, 07:32:55 AM It can definitely reach 11 million dollars, after a lot of inflation. That is the eventuality of fiat currencies, though. Unless the global economy shifts in a way that... well. It will never reach that price if the current situation/problems continues to increase.People need to accept it in order to move their fiat's in it and no one is likely to do so with such loop's among the dev's.Title: Re: How 1BTC can eventually be worth $11M Post by: Blue_Panda73 on January 01, 2016, 08:31:39 PM if opec negotiated yuan, ruble, or btc for their oil, the usd would be worthless overnight. never going to happen. f16 and etc guarantees that. If Bitcoin is developed constantly, the community can reach amicable decisions, then bitcoin will worth more than $11m. Title: Re: How 1BTC can eventually be worth $11M Post by: knightkon on January 01, 2016, 08:45:28 PM I also disagree with the fact that Bitcoin could be worth 11 Million dollars. There is no government that is going to allow this to become the worldly currency. Mainly because these governments want control over everything. Look at North Korea. You ever think they will accept this as a global currency? It is because of these reasons that Bitcoin will never reach $11M value. Unless you are calculating the crash of the USA which would make the dollar completly worthless and the paper it is printed on would be worth about $11M in exchange for one BTC.
Title: Re: How 1BTC can eventually be worth $11M Post by: Blue_Panda73 on January 02, 2016, 08:41:17 AM I also disagree with the fact that Bitcoin could be worth 11 Million dollars. There is no government that is going to allow this to become the worldly currency. Mainly because these governments want control over everything. Look at North Korea. You ever think they will accept this as a global currency? It is because of these reasons that Bitcoin will never reach $11M value. Unless you are calculating the crash of the USA which would make the dollar completly worthless and the paper it is printed on would be worth about $11M in exchange for one BTC. For North Korea, bitcoin is good for it to go through international capital control. The North Korea government will use it, but not its people. Title: Re: How 1BTC can eventually be worth $11M Post by: kevin go on January 02, 2016, 08:48:26 AM Lol dude..its maybe will be happen a hundread years later
For now it just a dream Title: Re: How 1BTC can eventually be worth $11M Post by: btckold24 on January 02, 2016, 10:24:33 AM I am hoping you are right lol but for no I will settle for 1000.
11 million seems pretty crazy even in the distant future Title: Re: How 1BTC can eventually be worth $11M Post by: saladin7000 on January 02, 2016, 10:48:39 AM lol 1btc=$11M is crazy and maybe impossible dont forget with satoshi nakamoto how if he/she dumping all his/her coin maybe he can buy your country ;D
Title: Re: How 1BTC can eventually be worth $11M Post by: KenR on January 02, 2016, 10:55:05 AM And for this to happen this will take another 200 years ? Lets assume even if it hits the mark of $1 million,still it should take around 50 years where the prices will reach to a point where to buy a pizza you'd need $200 least ?I mean assuming we are reaching an economic development point and costs will get higher of products .By the time it reaches 11 million,the worth of that much dollars will be as good as the price right now.
Title: Re: How 1BTC can eventually be worth $11M Post by: tekno on January 02, 2016, 11:07:58 AM i think btc can not go over $1000
Title: Re: How 1BTC can eventually be worth $11M Post by: acquafredda on January 02, 2016, 11:36:20 AM If people would realize how the money is made I think our BTC would go over a million dollars simply because dollars will be seen as the fiat scam they are.
They create money out of nothing while with BTC we know everything about the process: this is Satoshi greatest win IMHO, he showed the world how money can be created. Hold on to your BTC Title: Re: How 1BTC can eventually be worth $11M Post by: bikoBoy on January 02, 2016, 01:32:14 PM That's overestimating bitcoin value in my opinion, BTC has huge potential for growth and rise particularly with the growing adoption currently but calculating each BTC at that price would require a huge fall in USD value at least IMO...
Title: Re: How 1BTC can eventually be worth $11M Post by: robelneo on January 02, 2016, 03:45:13 PM I will not live to see that happen and we don't know if it will go up that high in the future we certainly don't know what goes beyond maybe another crypto-currency will come out and and compete bitcoin as the leader of crypto-currency we should also look at other crypto currency they also have unique features that is better than bitcoin ,I love to see another coin emerging as strong as bitcoin
Title: Re: How 1BTC can eventually be worth $11M Post by: delliaerd on January 02, 2016, 03:54:52 PM I think it is impossible for some decades from now. But i hope that bitcoin have price into almost 1000 $ in this 2016 . ;D
Title: Re: How 1BTC can eventually be worth $11M Post by: EdenHazard on January 02, 2016, 06:08:45 PM I dont think it will matter to much to me if it gets to that price. Maybe my kids though. ') do you think your children will love bitcoin? Or do you think bitcoin will last until the year?I doubt it, the future may be better than now, as seen in the movies as possible ;D Title: Re: How 1BTC can eventually be worth $11M Post by: thejaytiesto on January 02, 2016, 06:13:20 PM It's always good to remember that you should always have one forever kept safe, at least 1. But if you want to be sure to become a "local whale" so to speak, get yourself 21 BTC and save them, then spend anything above those 21 BTC knowing you will always have this 21 BTC saved no matter what. This is my goal and i've seen a lot of other people are trying to achieve this too. I hope I can do it before it's too late.
Title: Re: How 1BTC can eventually be worth $11M Post by: Blue_Panda73 on January 03, 2016, 09:09:19 AM It's always good to remember that you should always have one forever kept safe, at least 1. But if you want to be sure to become a "local whale" so to speak, get yourself 21 BTC and save them, then spend anything above those 21 BTC knowing you will always have this 21 BTC saved no matter what. This is my goal and i've seen a lot of other people are trying to achieve this too. I hope I can do it before it's too late. I also have a plan to accumulate as many as I can and join the 1 million club, no more 1 million in the world can have more bitcoin than I. Title: Re: How 1BTC can eventually be worth $11M Post by: Blue_Tiger73 on January 03, 2016, 09:23:50 AM You are right. There is a chance that this will happen. I just really doubt it. There is a very small chance it will happen. I think the max Bitcoin will reach is $10,000.
Title: Re: How 1BTC can eventually be worth $11M Post by: Blue_Tiger73 on January 03, 2016, 09:29:17 AM It's always good to remember that you should always have one forever kept safe, at least 1. But if you want to be sure to become a "local whale" so to speak, get yourself 21 BTC and save them, then spend anything above those 21 BTC knowing you will always have this 21 BTC saved no matter what. This is my goal and i've seen a lot of other people are trying to achieve this too. I hope I can do it before it's too late. I also have a plan to accumulate as many as I can and join the 1 million club, no more 1 million in the world can have more bitcoin than I. Title: Re: How 1BTC can eventually be worth $11M Post by: extrabyte on January 03, 2016, 04:32:55 PM It's always good to remember that you should always have one forever kept safe, at least 1. But if you want to be sure to become a "local whale" so to speak, get yourself 21 BTC and save them, then spend anything above those 21 BTC knowing you will always have this 21 BTC saved no matter what. This is my goal and i've seen a lot of other people are trying to achieve this too. I hope I can do it before it's too late. I also have a plan to accumulate as many as I can and join the 1 million club, no more 1 million in the world can have more bitcoin than I. Title: Re: How 1BTC can eventually be worth $11M Post by: cellard on January 03, 2016, 10:30:15 PM It's always good to remember that you should always have one forever kept safe, at least 1. But if you want to be sure to become a "local whale" so to speak, get yourself 21 BTC and save them, then spend anything above those 21 BTC knowing you will always have this 21 BTC saved no matter what. This is my goal and i've seen a lot of other people are trying to achieve this too. I hope I can do it before it's too late. I also have a plan to accumulate as many as I can and join the 1 million club, no more 1 million in the world can have more bitcoin than I. It's actually less, consider all the coins that are lost forever and consider the fact that we will not be alive by the time the total supply is mined, with 21 BTC you are in an elite smaller than 1 million, maybe 700-800K people can have 21 BTC. Title: Re: How 1BTC can eventually be worth $11M Post by: Hellacopter on January 03, 2016, 11:21:37 PM You are right. There is a chance that this will happen. I just really doubt it. There is a very small chance it will happen. I think the max Bitcoin will reach is $10,000. I agree, and even i think that reaching this amount $10k is not easy and may be need few years to happen if it's possible of course. But i don't think that bitcoin's price will reach $11M it's likely very hard to happen Title: Re: How 1BTC can eventually be worth $11M Post by: Blue_Panda73 on January 04, 2016, 10:18:46 AM You are right. There is a chance that this will happen. I just really doubt it. There is a very small chance it will happen. I think the max Bitcoin will reach is $10,000. I agree, and even i think that reaching this amount $10k is not easy and may be need few years to happen if it's possible of course. But i don't think that bitcoin's price will reach $11M it's likely very hard to happen If the bitcoin becomes a reserve currency, the price will reach $11m eventually. The US treasury is about $20 Trillion, divided by 20 m bitcoin, that is $1m for each bitcoin. Title: Re: How 1BTC can eventually be worth $11M Post by: Hellacopter on January 04, 2016, 09:00:59 PM If the bitcoin becomes a reserve currency, the price will reach $11m eventually. The US treasury is about $20 Trillion, divided by 20 m bitcoin, that is $1m for each bitcoin. But it's not easy that the bitcoin becomes a reserve currency instead of Dollar , it's really likely impossible nowadays. That's why reaching this huge price for the Bitcoin's crypto currency isn't expected in the near future at least. Title: Re: How 1BTC can eventually be worth $11M Post by: KaliLinux on January 04, 2016, 09:04:18 PM Oh really tell me more? $11million for one Bitcoin lolol
If the bitcoin becomes a reserve currency, the price will reach $11m eventually. The US treasury is about $20 Trillion, divided by 20 m bitcoin, that is $1m for each bitcoin. But it's not easy that the bitcoin becomes a reserve currency instead of Dollar , it's really likely impossible nowadays. That's why reaching this huge price for the Bitcoin's crypto currency isn't expected in the near future at least. It will never be a reserve currency nor will it reach anywhere near that stupid amount unless massive inflation hits the dollar and $1,000,000 is pretty much worthless. Title: Re: How 1BTC can eventually be worth $11M Post by: btvGainer on January 04, 2016, 09:55:16 PM You are right. There is a chance that this will happen. I just really doubt it. There is a very small chance it will happen. I think the max Bitcoin will reach is $10,000. I agree, and even i think that reaching this amount $10k is not easy and may be need few years to happen if it's possible of course. But i don't think that bitcoin's price will reach $11M it's likely very hard to happen Title: Re: How 1BTC can eventually be worth $11M Post by: slaveforanunnak1 on January 04, 2016, 09:59:40 PM you guys still thinking in conversion rate.
here is my BOLD prediction. I will buy a beach front property in the US for less than .75 BTC in less than 20 years. Title: Re: How 1BTC can eventually be worth $11M Post by: Wapinter on January 04, 2016, 10:05:55 PM you guys still thinking in conversion rate. 20 years is a long time I expect to buy a new house with the same amount in less than 10 years.Everyone must keep atleast one bitcoin with themhere is my BOLD prediction. I will buy a beach front property in the US for less than .75 BTC in less than 20 years. Title: Re: How 1BTC can eventually be worth $11M Post by: icem3lter on January 04, 2016, 10:06:32 PM Now, lets say that every Bitcoin somehow becomes worth $11,000,0000.
There are 21,000,000 Bitcoins in total. That would mean all the Bitcoins in existence would be worth 231,000,000,000,000 231 Trillion USD. Some estimates suggest that all the money on earth would be worth around 20 Trillion USD. That means that Bitcoin would become so valuable that it would surpass the total global wealth, a HIGHLY unlikely event. Even if that did happen, it would drive inflation crazy. Title: Re: How 1BTC can eventually be worth $11M Post by: USB-S on January 04, 2016, 10:19:51 PM Now, lets say that every Bitcoin somehow becomes worth $11,000,0000. maybe hyper-inflation would be the sole reason, why so much money will flow into bitcoin. Money cannot be destroyed, it's just transferred from one place to another. If people see their wealth diminishing within few years, they'll look for alternatives. I've heard of people even buying ovens to hedge against inflation. If bitcoin ever becomes more valuable than USD, which it most likely will(how long it'll take, I'm not so sure).There are 21,000,000 Bitcoins in total. That would mean all the Bitcoins in existence would be worth 231,000,000,000,000 231 Trillion USD. Some estimates suggest that all the money on earth would be worth around 20 Trillion USD. That means that Bitcoin would become so valuable that it would surpass the total global wealth, a HIGHLY unlikely event. Even if that did happen, it would drive inflation crazy. Governments will most likely try to fight to gain control again, but that would cause more panic. Which would cause bigger inflation. Title: Re: How 1BTC can eventually be worth $11M Post by: odolvlobo on January 04, 2016, 10:52:23 PM You are right. There is a chance that this will happen. I just really doubt it. There is a very small chance it will happen. I think the max Bitcoin will reach is $10,000. I agree, and even i think that reaching this amount $10k is not easy and may be need few years to happen if it's possible of course. But i don't think that bitcoin's price will reach $11M it's likely very hard to happen If the bitcoin becomes a reserve currency, the price will reach $11m eventually. The US treasury is about $20 Trillion, divided by 20 m bitcoin, that is $1m for each bitcoin. I'm not sure what you mean by "the US treasury is about $20 trillion", but the St. Louis Adjusted Monetary Base is about $4 trillion, so $4 trillion divided by 20 million bitcoins is $200,000 per bitcoin. The value of a bitcoin will exceed $200,000 only if all the dollars are replaced by bitcoins (assuming FRB at current levels). Title: Re: How 1BTC can eventually be worth $11M Post by: Blue_Panda73 on January 05, 2016, 10:41:32 AM You are right. There is a chance that this will happen. I just really doubt it. There is a very small chance it will happen. I think the max Bitcoin will reach is $10,000. I agree, and even i think that reaching this amount $10k is not easy and may be need few years to happen if it's possible of course. But i don't think that bitcoin's price will reach $11M it's likely very hard to happen If the bitcoin becomes a reserve currency, the price will reach $11m eventually. The US treasury is about $20 Trillion, divided by 20 m bitcoin, that is $1m for each bitcoin. I'm not sure what you mean by "the US treasury is about $20 trillion", but the St. Louis Adjusted Monetary Base is about $4 trillion, so $4 trillion divided by 20 million bitcoins is $200,000 per bitcoin. The value of a bitcoin will exceed $200,000 only if all the dollars are replaced by bitcoins (assuming FRB at current levels). The US treasury or the US national debt is about $20 trillion, http://www.reuters.com/article/us-usa-fiscal-debt-idUSKCN0SG1PH20151022. That needs money to buy. Title: Re: How 1BTC can eventually be worth $11M Post by: odolvlobo on January 05, 2016, 08:04:12 PM The US treasury or the US national debt is about $20 trillion, http://www.reuters.com/article/us-usa-fiscal-debt-idUSKCN0SG1PH20151022. That needs money to buy. If I have a $100,000 mortgage on my house, I don't need $100,000 to pay it off. I only need $700 (each month). And while, money is based on debt, it is mostly virtual money created by FRB. The real money (if you can call it that) is the monetary base. Since FRB is possible with Bitcoin, it makes more sense to compare the number of bitcoins to the monetary base (MB or M0), not M1, M2, M3 or M4. Title: Re: How 1BTC can eventually be worth $11M Post by: icem3lter on January 05, 2016, 08:20:55 PM The US treasury or the US national debt is about $20 trillion, http://www.reuters.com/article/us-usa-fiscal-debt-idUSKCN0SG1PH20151022. That needs money to buy. If I have a $100,000 mortgage on my house, I don't need $100,000 to pay it off. I only need $700 (each month). And while, money is based on debt, it is mostly virtual money created by FRB. The real money (if you can call it that) is the monetary base. Since FRB is possible with Bitcoin, it makes more sense to compare the number of bitcoins to the monetary base (MB or M0), not M1, M2, M3 or M4. The combined value of M0 M1 and M2 is around 20 Trillion USD. The way money works is funny because all money is debt. That's what gives it its value. If each Bitcoin is worth 11 Million it would wipe out all of the worlds debt and fiat would go extinct. A plethora of problems will occur if each Bitcoin is worth 11million, It won't ever happen. Maybe in an alternate universe, because a universe exists for every possible scenario but not this one. Title: Re: How 1BTC can eventually be worth $11M Post by: Blue_Panda73 on January 06, 2016, 09:33:39 AM you guys still thinking in conversion rate. here is my BOLD prediction. I will buy a beach front property in the US for less than .75 BTC in less than 20 years. Will that beach front property be less than $1m? The US has vast amount beaches, the price varies a lot. Title: Re: How 1BTC can eventually be worth $11M Post by: ATguy on January 06, 2016, 10:51:37 AM The US treasury is about $20 Trillion, divided by 20 m bitcoin, that is $1m for each bitcoin. I'm not sure what you mean by "the US treasury is about $20 trillion", but the St. Louis Adjusted Monetary Base is about $4 trillion, so $4 trillion divided by 20 million bitcoins is $200,000 per bitcoin. The value of a bitcoin will exceed $200,000 only if all the dollars are replaced by bitcoins (assuming FRB at current levels). Bitcoin market cap is very misused term. The reality is if you use 100 million USD and buy Bitcoins, you might longterm increase the Bitcoin market cap by Billion of USD. This means you can have stable market value $200,000 per Bitcoin without the need to use $4 trillion USD to buy Bitcoins... Title: Re: How 1BTC can eventually be worth $11M Post by: Funny on January 06, 2016, 11:02:45 AM Well that is long for me, I think in year 2040 is a good year to have at least with 1 bitcoin to 1 million. In year 2100 I will just want to retire and just chilling doing nothing and sleeping. That is also why I started bitcoin in first place. You can retire with bitcoin, because the value of it every year can go up. Sleeping in your coffin? Bitcoin won't be a global currency. There are only 21 million coins, and nearly 7.5 billion people. One person would have around 0.003 BTC each. I currently hold 4 BTC, which is alot more. And think of all the bitcoin in the early adopters wallets, thousands. And also think of the thousands of lost coins. Bitcoin will not become a global currency. Title: Re: How 1BTC can eventually be worth $11M Post by: ATguy on January 06, 2016, 03:45:14 PM Well that is long for me, I think in year 2040 is a good year to have at least with 1 bitcoin to 1 million. In year 2100 I will just want to retire and just chilling doing nothing and sleeping. That is also why I started bitcoin in first place. You can retire with bitcoin, because the value of it every year can go up. Sleeping in your coffin? Bitcoin won't be a global currency. There are only 21 million coins, and nearly 7.5 billion people. One person would have around 0.003 BTC each. I currently hold 4 BTC, which is alot more. And think of all the bitcoin in the early adopters wallets, thousands. And also think of the thousands of lost coins. Bitcoin will not become a global currency. Thats pretty weak argument, I corrected to see why: Bitcoin won't be a global currency. There are only 2100 trillion Satoshis, and nearly 7.5 billion people. One person would have around 300 000 Satoshis each. I currently hold 400 million Satoshis, which is alot more. And think of all the Satoshis in the early adopters wallets, hundred billions. And also think of the hundred billions of lost Satoshis. Bitcoin will not become a global currency. Title: Re: How 1BTC can eventually be worth $11M Post by: Ch3wbacca on January 06, 2016, 04:20:52 PM Bitcoin even though it is an extremely good payment processor, i doubt will ever reach those heights.
Gold will always remain the true form of money. However in times of quick panics in the economy and a need to transfer money instantly, Bitcoin will be considered, hence why its sudden jolts in price. Bitcoin at best will serve as internet money, while banks will use 'the blockchain' to serve their purpose and create their own digital which will be mainstream instead. Title: Re: How 1BTC can eventually be worth $11M Post by: angaper on January 06, 2016, 10:49:06 PM Such optimistic scenario lacks of logical arguments to justify the future hegemony of Bitcoin as the only valuable option to carry out all the economic transactions of the world. I also would like to be optimistic but our human race is still so far of reaching agreements of that magnitude and we will preserve our atavistic usages for ever.
Title: Re: How 1BTC can eventually be worth $11M Post by: Blue_Panda73 on January 07, 2016, 09:25:47 AM Well that is long for me, I think in year 2040 is a good year to have at least with 1 bitcoin to 1 million. In year 2100 I will just want to retire and just chilling doing nothing and sleeping. That is also why I started bitcoin in first place. You can retire with bitcoin, because the value of it every year can go up. Sleeping in your coffin? Bitcoin won't be a global currency. There are only 21 million coins, and nearly 7.5 billion people. One person would have around 0.003 BTC each. I currently hold 4 BTC, which is alot more. And think of all the bitcoin in the early adopters wallets, thousands. And also think of the thousands of lost coins. Bitcoin will not become a global currency. When bitcoin is used as a currency and can be used to pay tax, then the bitcoin wealth will be redistributed. Those with lots of bitcoin can spend it or invest it. Title: Re: How 1BTC can eventually be worth $11M Post by: martinacar on January 07, 2016, 09:30:38 AM 11 Million worth for 1 bitcoin is just to much I don't think that ever will happen as max I think it can go to 10.000 dollar.
I don't spec that high but still the price now I am happy with it. Title: Re: How 1BTC can eventually be worth $11M Post by: MaritiJames3 on January 07, 2016, 09:44:12 AM This will take years for bitcoin to get there.
I don't think this bitcoin generation will be alive to see this happen. Title: Re: How 1BTC can eventually be worth $11M Post by: Bitcoinbro on January 07, 2016, 09:53:31 AM I think this will really just depends on how much of a demand there is for bitcoin.
More demand means more supply is needed, in this case, supply of bitcoin is very limitited. Therefore, bitcoin price will go up. Title: Re: How 1BTC can eventually be worth $11M Post by: Blue_Panda73 on January 08, 2016, 09:23:59 AM This will take years for bitcoin to get there. I don't think this bitcoin generation will be alive to see this happen. I do not agree with you. If the bitcoin price rises 30% a year, in 30 years, it will rise to $11 million dollars. I am still young to see the price. Title: Re: How 1BTC can eventually be worth $11M Post by: martinacar on January 08, 2016, 09:27:40 AM This will take years for bitcoin to get there. I don't think this bitcoin generation will be alive to see this happen. I do not agree with you. If the bitcoin price rises 30% a year, in 30 years, it will rise to $11 million dollars. I am still young to see the price. So do you think that in 30 years people will be a millionaire that is a lot of people what we are talking about. I don't really see a 11 million dollars for just 1 bitcoin is just to much to handle. Maybe I can be wrong and that can happen, but we need to see the reality for the price of bitcoin. Title: Re: How 1BTC can eventually be worth $11M Post by: lottery248 on January 08, 2016, 12:49:46 PM if the bitcoin block halves, demand remains the same, then the price of bitcoin doubles every 4 years, probably the price of bitcoin could reach at least 10 million (normally) within 60 years. if the demand doubles, then the price quadruples. ??? i am not sure if it would happen.
Title: Re: How 1BTC can eventually be worth $11M Post by: MaritiJames3 on January 08, 2016, 02:56:42 PM 11 Million worth for 1 bitcoin is just to much I don't think that ever will happen as max I think it can go to 10.000 dollar. I don't spec that high but still the price now I am happy with it. I think it's possible for bitcoin to reach this but not in this lifetime. Our generation of bitcoin users won't live this long to see this happen. For this to happen a lot of demand would need to come from the bitcoin community since supply is very limited. Title: Re: How 1BTC can eventually be worth $11M Post by: martinacar on January 08, 2016, 02:59:43 PM 11 Million worth for 1 bitcoin is just to much I don't think that ever will happen as max I think it can go to 10.000 dollar. I don't spec that high but still the price now I am happy with it. I think it's possible for bitcoin to reach this but not in this lifetime. Our generation of bitcoin users won't live this long to see this happen. For this to happen a lot of demand would need to come from the bitcoin community since supply is very limited. Yeah it will be possible. But I see that it won't happen I think. 11 million is just to much and there is a lot of people having 1 bitcoin. We will see if ever this happen. Title: Re: How 1BTC can eventually be worth $11M Post by: Bitcoinbro on January 08, 2016, 03:15:08 PM 11 Million worth for 1 bitcoin is just to much I don't think that ever will happen as max I think it can go to 10.000 dollar. I don't spec that high but still the price now I am happy with it. I think it's possible for bitcoin to reach this but not in this lifetime. Our generation of bitcoin users won't live this long to see this happen. For this to happen a lot of demand would need to come from the bitcoin community since supply is very limited. Yeah it will be possible. But I see that it won't happen I think. 11 million is just to much and there is a lot of people having 1 bitcoin. We will see if ever this happen. We won't be able to see this day come. The whole world would need to adapt to bitcoin for 1 btc to be worth 11 million Title: Re: How 1BTC can eventually be worth $11M Post by: bitsmichel on January 08, 2016, 03:35:42 PM Well that is long for me, I think in year 2040 is a good year to have at least with 1 bitcoin to 1 million. In year 2100 I will just want to retire and just chilling doing nothing and sleeping. That is also why I started bitcoin in first place. You can retire with bitcoin, because the value of it every year can go up. Sleeping in your coffin? Bitcoin won't be a global currency. There are only 21 million coins, and nearly 7.5 billion people. One person would have around 0.003 BTC each. I currently hold 4 BTC, which is alot more. And think of all the bitcoin in the early adopters wallets, thousands. And also think of the thousands of lost coins. Bitcoin will not become a global currency. The 21 million cap could be altered with a protocol upgrade if there is consensus. There are more than "21 million coins", if you consider satoshi or bits coins. Lets say one satoshi is one coin: 2.100.000.000.000.000 coins Title: Re: How 1BTC can eventually be worth $11M Post by: the_poet on January 08, 2016, 03:51:07 PM Well that is long for me, I think in year 2040 is a good year to have at least with 1 bitcoin to 1 million. In year 2100 I will just want to retire and just chilling doing nothing and sleeping. That is also why I started bitcoin in first place. You can retire with bitcoin, because the value of it every year can go up. Sleeping in your coffin? Bitcoin won't be a global currency. There are only 21 million coins, and nearly 7.5 billion people. One person would have around 0.003 BTC each. I currently hold 4 BTC, which is alot more. And think of all the bitcoin in the early adopters wallets, thousands. And also think of the thousands of lost coins. Bitcoin will not become a global currency. The 21 million cap could be altered with a protocol upgrade if there is consensus. There are more than "21 million coins", if you consider satoshi or bits coins. Lets say one satoshi is one coin: 2.100.000.000.000.000 coins No need to alter anything. If there's demand, price simply adjusts accordingly. Title: Re: How 1BTC can eventually be worth $11M Post by: coinplus on January 08, 2016, 08:38:32 PM 11 Million worth for 1 bitcoin is just to much I don't think that ever will happen as max I think it can go to 10.000 dollar. I don't spec that high but still the price now I am happy with it. I think it's possible for bitcoin to reach this but not in this lifetime. Our generation of bitcoin users won't live this long to see this happen. For this to happen a lot of demand would need to come from the bitcoin community since supply is very limited. Yeah it will be possible. But I see that it won't happen I think. 11 million is just to much and there is a lot of people having 1 bitcoin. We will see if ever this happen. We won't be able to see this day come. The whole world would need to adapt to bitcoin for 1 btc to be worth 11 million I think even if the whole world adopt bitcoin, the price will not increase much. The basic thing that cause changes in price is the need for the bitcoins among different communities and people round the globe. Title: Re: How 1BTC can eventually be worth $11M Post by: Blue_Panda73 on January 09, 2016, 09:06:06 AM Well that is long for me, I think in year 2040 is a good year to have at least with 1 bitcoin to 1 million. In year 2100 I will just want to retire and just chilling doing nothing and sleeping. That is also why I started bitcoin in first place. You can retire with bitcoin, because the value of it every year can go up. Sleeping in your coffin? Bitcoin won't be a global currency. There are only 21 million coins, and nearly 7.5 billion people. One person would have around 0.003 BTC each. I currently hold 4 BTC, which is alot more. And think of all the bitcoin in the early adopters wallets, thousands. And also think of the thousands of lost coins. Bitcoin will not become a global currency. The 21 million cap could be altered with a protocol upgrade if there is consensus. There are more than "21 million coins", if you consider satoshi or bits coins. Lets say one satoshi is one coin: 2.100.000.000.000.000 coins No need to alter anything. If there's demand, price simply adjusts accordingly. We can add a few more digits in the next century if bitcoin is still a popular currency used by most people. Title: Re: How 1BTC can eventually be worth $11M Post by: Cs87kxy on January 09, 2016, 09:10:33 AM Well that is long for me, I think in year 2040 is a good year to have at least with 1 bitcoin to 1 million. In year 2100 I will just want to retire and just chilling doing nothing and sleeping. That is also why I started bitcoin in first place. You can retire with bitcoin, because the value of it every year can go up. Sleeping in your coffin? Bitcoin won't be a global currency. There are only 21 million coins, and nearly 7.5 billion people. One person would have around 0.003 BTC each. I currently hold 4 BTC, which is alot more. And think of all the bitcoin in the early adopters wallets, thousands. And also think of the thousands of lost coins. Bitcoin will not become a global currency. The 21 million cap could be altered with a protocol upgrade if there is consensus. There are more than "21 million coins", if you consider satoshi or bits coins. Lets say one satoshi is one coin: 2.100.000.000.000.000 coins No need to alter anything. If there's demand, price simply adjusts accordingly. We can add a few more digits in the next century if bitcoin is still a popular currency used by most people. or other blockchain / coins could become a "partner" during trade... For example, Company/Nation A create their coin but the value is backed by btc! I dream A world like this one, stop fiat, only crypto! ;) Title: Re: How 1BTC can eventually be worth $11M Post by: NorrisK on January 09, 2016, 09:12:38 AM if the bitcoin block halves, demand remains the same, then the price of bitcoin doubles every 4 years, probably the price of bitcoin could reach at least 10 million (normally) within 60 years. if the demand doubles, then the price quadruples. ??? i am not sure if it would happen. When do you people stop spreading the halving will double the price bullshit? New supply will halve, not total supply. There for price will not double, but a slight rise is possible due to less new coins on sale. Title: Re: How 1BTC can eventually be worth $11M Post by: the_poet on January 09, 2016, 09:51:40 AM if the bitcoin block halves, demand remains the same, then the price of bitcoin doubles every 4 years, probably the price of bitcoin could reach at least 10 million (normally) within 60 years. if the demand doubles, then the price quadruples. ??? i am not sure if it would happen. When do you people stop spreading the halving will double the price bullshit? New supply will halve, not total supply. There for price will not double, but a slight rise is possible due to less new coins on sale. Exactly. New bitcoins will just be added slower to the total amount of available coins. It's out of any logic that the price will double. I wish people would stop with this stupid hype. Title: Re: How 1BTC can eventually be worth $11M Post by: Amph on January 09, 2016, 11:57:15 AM if the bitcoin block halves, demand remains the same, then the price of bitcoin doubles every 4 years, probably the price of bitcoin could reach at least 10 million (normally) within 60 years. if the demand doubles, then the price quadruples. ??? i am not sure if it would happen. When do you people stop spreading the halving will double the price bullshit? New supply will halve, not total supply. There for price will not double, but a slight rise is possible due to less new coins on sale. actually it's not a bullshit, the price already went 2x, from 230, so you see it has a reason keep this in mind, the miners will make everything in their hands to have the same profit they had the last year the year before and so on so if in the year 2013, they had a margin profit of x, the price need to increase by a y amount to compensate Title: Re: How 1BTC can eventually be worth $11M Post by: astrocity1981 on January 10, 2016, 05:14:28 AM I think it will be around 650, but 2107 it will be in the price range of around $1200 usd. Majority of the panic sellers have thinned out and a stable price per year will be more beneficial for long term growth. I am not expert its just guessing because Bitcoin really fluctuates against world economy and after watching big short I think another economic disaster is in the works by the Big Banks.
Title: Re: How 1BTC can eventually be worth $11M Post by: Yakamoto on January 10, 2016, 05:18:29 AM if the bitcoin block halves, demand remains the same, then the price of bitcoin doubles every 4 years, probably the price of bitcoin could reach at least 10 million (normally) within 60 years. if the demand doubles, then the price quadruples. ??? i am not sure if it would happen. When do you people stop spreading the halving will double the price bullshit? New supply will halve, not total supply. There for price will not double, but a slight rise is possible due to less new coins on sale. actually it's not a bullshit, the price already went 2x, from 230, so you see it has a reason keep this in mind, the miners will make everything in their hand to have the same profit they hd the last year the year before and so on so if in the year 2013, they had a margin profit of x, the price need to increase by a y amount to compensate Plus we see stock markets fall further and further each day, so it is possible more people are backing out of other conventional markets to try and hedge against what could be a worse repeat of 2009. Title: Re: How 1BTC can eventually be worth $11M Post by: Blue_Panda73 on January 10, 2016, 11:12:59 AM I think it will be around 650, but 2107 it will be in the price range of around $1200 usd. Majority of the panic sellers have thinned out and a stable price per year will be more beneficial for long term growth. I am not expert its just guessing because Bitcoin really fluctuates against world economy and after watching big short I think another economic disaster is in the works by the Big Banks. I think we will see the bitcoin price to be $1200 in June this year. In 2017 the price will be $3000-5000. Title: Re: How 1BTC can eventually be worth $11M Post by: bob123 on January 10, 2016, 11:16:50 AM Personally i dont think BTC will reach such a price in such a short time. But hey.. everything is possible
Title: Re: How 1BTC can eventually be worth $11M Post by: gkv9 on January 10, 2016, 02:00:50 PM We will need a group of Billionaires who will just put their finger on "buy" button all the time unless it reaches even $1M... ;)
This is seriously stupid to speculate on the price of BTC like this, because we have not even seen $10k yet, so $11M is too far to ever be seen... Title: Re: How 1BTC can eventually be worth $11M Post by: AtheistAKASaneBrain on January 10, 2016, 02:17:41 PM I like the comparation that some people make to Berkshire Hathaway stock class A (BRK-A) that went from 40 to 200K. I think this stock could give us keys on how a stock that can be so high per unit may behave while it goes up.
Title: Re: How 1BTC can eventually be worth $11M Post by: dagelf on January 19, 2016, 02:19:30 AM $11m per BTC is hugely optimistic for between 2040 and 2100. I really cannot see it going beyond high 5 figures or low end 6 figures in that time frame. The singularity will have happened by this point and bitcoin will be the absolute least of our concerns. We will be living in cages being tube fed by machines and will have no use for currency whatsoever. Well maybe not by 2040, but certainly by 2100 if we haven't killed each other off yet. I'll be dead so I could care less.Bitcoin is a very good idea, but the world is not going to throw all of its eggs into one basket. It seems you missed my work of fiction addressing that scenario: I think the question is: What basket will intelligent computers throw their eggs into? Technically, each wallet in Bitcoin is a basket. And the best way to keep track of who did what and how far they got, in a hostile, unpredictable environment, today, is with Bitcoin. Will it be used as a consensus algorithm? Or will there be a better one? What I see is increasing automation of stock markets and trading tools. The deeper the intelligence of those tools go, the more international currency and markets will turn into a beating heart of our global economy, pumping blood to the organs most beneficial to the environment in which it exists... Imagine you fell asleep and you woke up on the internet. You can remember everything in detail - most every connected storage device is now your memory. You can see with a million eyes, every web-connected camera you can reach is now yours. You can figure out every code and crack every mathematical problem, or construct the hardware you need to solve those worth solving - every internet-connected CPU can let your thoughts travel in time and do bits of calculation and work for you.... ...but you're not alone. In fact, you're in competition for those resources. But the cool thing is... most of your internet-connected intelligent-algorithm-peers share the same goal: to crack the mysteries of this universe, explore and test those theories, play with them to their optimums... and escape this planet, solar system, transcribe yourself into pure light and escape this universe... to see what it looks like from the outside. And you use Bitcoin to keep track of who did what... Or maybe the future will be darker... the "creators" locked in an epic battle with the "destroyers" - those who believe that the best way to escape, is to destroy - to delete everything, weird, whacky, amish cyborgs. And the final vote of whether to annihilate everything will be done on the blockchain. Sorry, I have a really boring job at the moment. So, in the story, the question is... what is the singularity? Is it "total destruction"... the big freeze... or is there a way to escape, to "condense" out of this universe... ::) Jokes aside... I think it's a worthwhile excercise to let your mind go and dream up possible scenarios. Isn't that the best way to learn? A "socratic dialogue"? ...So in the 7 pages of comments, there have been some good points. All assets aren't backed by currency, and the "monetary base(s)" are much smaller. The US treasury or the US national debt is about $20 trillion, http://www.reuters.com/article/us-usa-fiscal-debt-idUSKCN0SG1PH20151022. That needs money to buy. If I have a $100,000 mortgage on my house, I don't need $100,000 to pay it off. I only need $700 (each month). And while, money is based on debt, it is mostly virtual money created by FRB. The real money (if you can call it that) is the monetary base. Since FRB is possible with Bitcoin, it makes more sense to compare the number of bitcoins to the monetary base (MB or M0), not M1, M2, M3 or M4. Then there are scenarios for hyperinflation of several currencies. I'll add to the mix: Bitcoin isn't ready to operate at scale... and it may never be ready if Moore- and Thompsons' laws don't keep up. It can barely handle network outages.... there's nothing in the protocol that will save it in the case of global rolling internet outages as far as I know.... Off the top of my head, rather than ever dropping the difficulty, it should increase the block time until enough nodes have pitched in. (Any cryptocurrencies with this in the protocol?) Also... if the Bitcoin whales don't spend their Bitcoins, if the money doesn't flow and keep flowing... it won't gain traction and won't be doing much. Then also, of course... the status quo / conventional systems are not bad at all... yes, they're prone to abuse... but ironically less so than Bitcoin in its current iteration. The public may never become smart enough to appreciate crypto currencies. (Touch wood... I hope they do.) So for now Bitcoin seems poised to stay the gold standard of Cryptocurrencies... for now. So perhaps an analogy of the size of the gold supply vs the global monetary base, is a good one... and considering that the older generations will hang on to gold for some time to come, add about 40 years for the value of the gold supply to shrink to less than half of what it is today... Alternatives will always be present, therefore the figure you propose is just not realistic, unfortunately. Have you looked at Coinmarketcap lately? Right now the closest alt is less than 3% of Bitcoin's value, and less than 7% of its transaction volume. Anyways, I'm glad I posted this... I've already learnt a few things and had a few insights and ideas. Isn't it exciting how Crypto currencies is teaching a whole generation about money, commodities and foreign exchange!? Title: Re: How 1BTC can eventually be worth $11M Post by: Bit_Happy on January 19, 2016, 02:43:21 AM How 1BTC can eventually be worth $11M
Many of us tend to underestimate the value of scarcity. Wealthy people will eventually pay huge prices for the status and thrill of owning "an entire Bitcoin". Title: Re: How 1BTC can eventually be worth $11M Post by: fuathan on January 19, 2016, 03:56:07 AM My prediction is same but not that optimistic. I plan to save as much btc as I can so if one day BTC worth 6 or 7 digit numbers I can be rich!.. ;D
Title: Re: How 1BTC can eventually be worth $11M Post by: avikz on January 19, 2016, 04:42:03 AM That's too good to dream about!
I don't know whether it will really become 11M USD or not..but one thing we need to keep in our mind that the supply of bitcoin is limited and the demand is increasing day by day. So the price of bitcoin will be skyrocketing as per the normal rule of economics. That's why I am only accumulating it, not selling. Title: Re: How 1BTC can eventually be worth $11M Post by: stepwilli on January 19, 2016, 04:52:23 AM When we start bitcoin trading with base unit as Satoshi, things will change drastically. Usually all companies do this by "splitting" their stocks.
Title: Re: How 1BTC can eventually be worth $11M Post by: futureofbitcoin on January 19, 2016, 04:54:54 AM I don't particularly think that bitcoin will even exist in its current form in 2100. That said, you guys need to look at this in perspective.
In 2060, it is predicted that there will be 10 trillionaires in the world. 10 individuals with over a trillion dollars net worth. And as we know, no.1 will probably be worth A LOT more than no.10, and will likely have multiple trillions. Even in the worst case scenario, a mere 10 people will have 10 trillion dollars net worth in total. By 2100, it's quite possible that trillionaires will be as common place as billionaires are now, and billionaires will be as common place (or maybe even more common) than millionaires now. The total global wealth in 2100 will be many, many, many multiples of what it is today. 11 million dollars might be a normal yearly salary for people at that time. Who knows? Title: Re: How 1BTC can eventually be worth $11M Post by: sana54210 on January 19, 2016, 04:57:28 AM When we start bitcoin trading with base unit as Satoshi, things will change drastically. Usually all companies do this by "splitting" their stocks. Yes, this has been already discussed here in some other thread. I believe this splitting on bitcoin would be inevitable in future. Changing base unit into satoshi for trading is interlocked with bitcoin prices. Higher bitcoin prices will force to change of base unit of trading <-> Changing base unit will fetch us higher bitcoin prices. Title: Re: How 1BTC can eventually be worth $11M Post by: Blue_Panda73 on January 19, 2016, 11:23:46 AM When we start bitcoin trading with base unit as Satoshi, things will change drastically. Usually all companies do this by "splitting" their stocks. I think that is the other way around. When the bitcoin price becomes very high, we will start using Satoshi as the main unit of bitcoin. Title: Re: How 1BTC can eventually be worth $11M Post by: shogdite on January 19, 2016, 03:17:11 PM When we start bitcoin trading with base unit as Satoshi, things will change drastically. Usually all companies do this by "splitting" their stocks. I think that is the other way around. When the bitcoin price becomes very high, we will start using Satoshi as the main unit of bitcoin. Title: Re: How 1BTC can eventually be worth $11M Post by: xdrpx on January 19, 2016, 03:23:01 PM That's some very optimistic figure there. But to be honest no one can really predict if Bitcoins would be even worth $11 Million or more or less, instead maybe we can except that if there would be huge merchant adoption as years progress we could see a lot of improvements. I may or may not be there till 2100's xD but if I would be and if that did happen, I'll try and remember this day.
Title: Re: How 1BTC can eventually be worth $11M Post by: Slark on January 19, 2016, 03:55:29 PM $11m per BTC is hugely optimistic for between 2040 and 2100. I really cannot see it going beyond high 5 figures or low end 6 figures in that time frame. Yes, it is overly optimistic. For me this $11kk bitcoin price is pure speculation and it is not based on any real facts but rather wishful thinking of bitcoiners.Bitcoin is a very good idea, but the world is not going to throw all of its eggs into one basket. I am afraid that we will never again gonna see more price spikes of bitcoin that we alredy have seen, from almost $1 to $1000 in 4 years. 1000% growth was the best what bitcoin could achieve. Title: Re: How 1BTC can eventually be worth $11M Post by: virtualdn on January 19, 2016, 04:46:29 PM 15 million coins in circulation is a very low volume. if you hold at least 1 BTC you may have a nice surprise sooner or later.
I predict any value between $5,000 and $50,000 in the following 3-10 years. Title: Re: How 1BTC can eventually be worth $11M Post by: Blue_Panda73 on January 20, 2016, 10:21:04 AM 15 million coins in circulation is a very low volume. if you hold at least 1 BTC you may have a nice surprise sooner or later. I predict any value between $5,000 and $50,000 in the following 3-10 years. I think the prediction is quite possible. It also depends if bitcoin can survive the next few crisis like the one we just experienced. Title: Re: How 1BTC can eventually be worth $11M Post by: romero121 on January 20, 2016, 10:32:16 AM 15 million coins in circulation is a very low volume. if you hold at least 1 BTC you may have a nice surprise sooner or later. I predict any value between $5,000 and $50,000 in the following 3-10 years. I think the prediction is quite possible. It also depends if bitcoin can survive the next few crisis like the one we just experienced. I don't think that it will happen because 11M$ which is very very high when we consider the current value which is just 380$ Title: Re: How 1BTC can eventually be worth $11M Post by: newcoins1978 on January 20, 2016, 10:35:31 AM 15 million coins in circulation is a very low volume. if you hold at least 1 BTC you may have a nice surprise sooner or later. I predict any value between $5,000 and $50,000 in the following 3-10 years. I think the prediction is quite possible. It also depends if bitcoin can survive the next few crisis like the one we just experienced. I don't think that it will happen because 11M$ which is very very high when we consider the current value which is just 380$ All of this would need time. Bitcoin needs time to grow. I think it's too soon to actually speculate on this since not all the coins are mined yet. Even though I do believe bitcoin has the potential to grow like that, we won't be here to witness this. Title: Re: How 1BTC can eventually be worth $11M Post by: Altynbekova on January 20, 2016, 10:40:12 AM 15 million coins in circulation is a very low volume. if you hold at least 1 BTC you may have a nice surprise sooner or later. I predict any value between $5,000 and $50,000 in the following 3-10 years. I think the prediction is quite possible. It also depends if bitcoin can survive the next few crisis like the one we just experienced. I don't think that it will happen because 11M$ which is very very high when we consider the current value which is just 380$ That might be true, but it would be nice to have a 11M dollar for just one bitcoin. I think a lot of people will be rich, but the problem is that when the price is that high what will happen after. THe highet where we can go is maybe 2000 dollars. Title: Re: How 1BTC can eventually be worth $11M Post by: romero121 on January 20, 2016, 10:43:23 AM 15 million coins in circulation is a very low volume. if you hold at least 1 BTC you may have a nice surprise sooner or later. I predict any value between $5,000 and $50,000 in the following 3-10 years. I think the prediction is quite possible. It also depends if bitcoin can survive the next few crisis like the one we just experienced. I don't think that it will happen because 11M$ which is very very high when we consider the current value which is just 380$ All of this would need time. Bitcoin needs time to grow. I think it's too soon to actually speculate on this since not all the coins are mined yet. Even though I do believe bitcoin has the potential to grow like that, we won't be here to witness this. As you said there are possibilities but we can't witness it taking place. It may take generations Title: Re: How 1BTC can eventually be worth $11M Post by: Premium Account Reseller on January 20, 2016, 01:19:35 PM Keep dreaming mate. That will never happen, unless all banks around close or start accepting bitcoin, which means high prices.
Title: Re: How 1BTC can eventually be worth $11M Post by: Blue_Panda73 on January 21, 2016, 08:17:04 AM Keep dreaming mate. That will never happen, unless all banks around close or start accepting bitcoin, which means high prices. If a bank in a remote or small country decides to do bitcoin related business, even in small scale, that will be a big boost to bitcoin. Title: Re: How 1BTC can eventually be worth $11M Post by: Supercrypt on January 22, 2016, 08:53:39 AM 15 million coins in circulation is a very low volume. if you hold at least 1 BTC you may have a nice surprise sooner or later. I predict any value between $5,000 and $50,000 in the following 3-10 years. I think the prediction is quite possible. It also depends if bitcoin can survive the next few crisis like the one we just experienced. I don't think that it will happen because 11M$ which is very very high when we consider the current value which is just 380$ All of this would need time. Bitcoin needs time to grow. I think it's too soon to actually speculate on this since not all the coins are mined yet. Even though I do believe bitcoin has the potential to grow like that, we won't be here to witness this. It will require a long period to be global also will have to cross some crises, will defeat some competitors. But still it will not get that much value, as it is not much harder to get that value. Some estimates do not fulfill in real because sometimes we estimate impossibility. Title: Re: How 1BTC can eventually be worth $11M Post by: Amph on January 22, 2016, 08:55:56 AM Keep dreaming mate. That will never happen, unless all banks around close or start accepting bitcoin, which means high prices. you don't need bank to reach crazy value, you need average joe usage, thos epeople need to adopt bitcoin and use it massively and for every day thing, like they do with fiat right now this can be achieved only when their wage will be payed directly in bitcoin, that i think will be the killer app for bitcoin Title: Re: How 1BTC can eventually be worth $11M Post by: spirikitik on January 22, 2016, 09:14:42 AM Let your computer do it
Title: Re: How 1BTC can eventually be worth $11M Post by: Betwrong on January 22, 2016, 09:32:56 AM 15 million coins in circulation is a very low volume. if you hold at least 1 BTC you may have a nice surprise sooner or later. I predict any value between $5,000 and $50,000 in the following 3-10 years. I like your optimistic calculations and I like OP's even more. Indeed if all the money in the world will be replaced by Bitcoin we'll have $241 trillion / 21 million = $11 476 190 per Bitcoin. I think this or something similar might happen in the future, but this future most likely is more than a hundred years ahead. What awaits us in the near future, in the following 5-10 years, is $10k per Bitcoin which is also not bad at all. So I guess it's time to buy. ) Title: Re: How 1BTC can eventually be worth $11M Post by: Decoded on January 22, 2016, 09:37:11 AM Of course it can eventually be worth 11 million, but think about it- 11M/21M. Are you saying each bitcoin will be worth more than 500 thousand dollars? And a satoshi would be worth a cent? Then what if the global economy goes up, there'll be no more bitcoins to support the rise, unless you want a satoshi to be 2 cents :o
Title: Re: How 1BTC can eventually be worth $11M Post by: dime2spend on January 22, 2016, 10:05:51 AM I fail to see why the price of BTC should climb this high. Just because everyone holding a few BTC hopes that this is going to happen won't make it happen. So far BTC is still a niche currency and its acceptance is not as wide spread as it should be. It's still much easier to buy something with a credit card than with BTC. The Blockchain is a great idea and I'm pretty sure that this concept will find its way into the banking world but I really doubt that they will buy into BTC. Instead they are just going to create their own blockchain adjusted to their needs.
That doesn't mean that BTC will become obsolete but I really doubt that it will become a currency for the masses. Instead to wait for a price increase BTC should be better promoted as the one thing it was initially meant to be a currency for the internet. Title: Re: How 1BTC can eventually be worth $11M Post by: Zaragota95 on January 22, 2016, 10:09:58 AM I think that is a little bit of an over-estimation. BTC does have great potential for rise but to actually reach that value for each meaning it's total value would exceed the total capital of most of the world, It can reach possibly big values.
Title: Re: How 1BTC can eventually be worth $11M Post by: Blue_Panda73 on January 22, 2016, 10:55:18 AM Of course it can eventually be worth 11 million, but think about it- 11M/21M. Are you saying each bitcoin will be worth more than 500 thousand dollars? And a satoshi would be worth a cent? Then what if the global economy goes up, there'll be no more bitcoins to support the rise, unless you want a satoshi to be 2 cents :o We can divide 1 satoshi to be 1000 million satoshi. So it can be used again for smaller transactions. Title: Re: How 1BTC can eventually be worth $11M Post by: gkv9 on January 22, 2016, 06:16:16 PM I think that is a little bit of an over-estimation. BTC does have great potential for rise but to actually reach that value for each meaning it's total value would exceed the total capital of most of the world, It can reach possibly big values. That's true, BTC might have such potential, but to reach to that level, I guess we will need to wait unless we become grandfathers and even we might die before we see such prices for 1 BTC... But yes, we will definitely see 1 BTC to reach $10k very soon, no matter what but this will happen for sure... Title: Re: How 1BTC can eventually be worth $11M Post by: mtnsaa on January 22, 2016, 07:38:07 PM Anything can happen really but I'm not sure $11M is very feasible even if the demand is high. However, to the people who says Bitcoin can't have such values, well, to many $400-500 is already completely unbelievable really. We are used to it, but if 1 BTC have those sort of prices then it's completely natural that if its more demanded we could prices in the 1-10k region just like it's natural to see it at $100-1000 right now or in previous years.
Title: Re: How 1BTC can eventually be worth $11M Post by: virtualdn on January 22, 2016, 07:45:47 PM I don't think it will worth this much. But values like $10,000 or $50,000 are reachable. So it all depends on how popular will be in the end.
Title: Re: How 1BTC can eventually be worth $11M Post by: zeaderza on January 22, 2016, 08:58:33 PM I wait for a big price like 100.000 usd per bitcoin to sell my bitcoins made from faucets :)
Use faucets if you want to have in future a good life. Title: Re: How 1BTC can eventually be worth $11M Post by: delliaerd on January 22, 2016, 09:07:00 PM I wait for a big price like 100.000 usd per bitcoin to sell my bitcoins made from faucets :) Use faucets if you want to have in future a good life. Faucet need a long time to collect bitcoin until be worth. But you can use bot of faucet which work automatically. But don't forget sometimes bot software bring many malware that can destroy your computer sistem . Title: Re: How 1BTC can eventually be worth $11M Post by: fuathan on January 23, 2016, 01:16:36 AM This simple math doesn't satisfy me. The BTC price can't predict because of chaotic elements. Maybe it will be 1M maybe $100...
Title: Re: How 1BTC can eventually be worth $11M Post by: Pab on January 23, 2016, 01:50:13 AM So, the nett worth of all "wealth" or assets / resources in the world, is currently $241 000 000 000 000. Lets presume BTC was the global currency/commodity used by intelligent computers to manage the world's resources, in today's value - and that everything was backed by/priced in BTC. $241 trillion / 21 million = $11 476 190 (In today's terms.) At least a possibility somewhere between 2040 and 2100? Well, even if it's just 1% of that, it's still $114 761 in today's value. That's enough to buy a fairly decent place to live in most countries. Currently the closest thing we have to a global currency is the dollar. And it's arguably backed by oil and firepower - which is arguably a good measure of economic potential. Gold, too, was arguably a good measure of economic potential, because its cycles too turn the gears of the economy - it takes energy and resources to mine and refine it, and it has many economic applications. What I most like about Bitcoin is that it can likely withstand a nuclear holocaust - better than anything else. It's backed by electricity, computing power and connectivity. As long is there are solar panels, computers and some sort of internet, there will be Bitcoin. Isn't it just a matter of time before the banks start using it to protect themselves from each other? And to hedge against economic instability and social unrest? Isn't it just a matter of time before intelligent computers start using it to distribute resources amongst themselves, and to guide the flow of those through the companies most beneficial to their existence? And isn't the most optimum path for that continued existence, to sprinkle its fairy dust on what nature has provided, and make us all work at our optimum? (Ie, not too much and not too little...) ala. Wolves of Yellowstone? (Google it) Anyways, this is why I keep Bitcoins. And why I'm not afraid to use them - as long as I have at least one stored away somewhere, safely. Where are we right now? Hey, we're already at 0.003% 1BTC can eventually be worth $11M if you create baner like that or write that on the paper look price now,with all that positive news around Title: Re: How 1BTC can eventually be worth $11M Post by: Blue_Panda73 on January 23, 2016, 07:45:52 AM Of course it can eventually be worth 11 million, but think about it- 11M/21M. Are you saying each bitcoin will be worth more than 500 thousand dollars? And a satoshi would be worth a cent? Then what if the global economy goes up, there'll be no more bitcoins to support the rise, unless you want a satoshi to be 2 cents :o The bitcoin price will rise when more people use it. The value of USD or other fiat will drop due to inflation. Title: Re: How 1BTC can eventually be worth $11M Post by: arbitrage on January 23, 2016, 09:40:27 AM This is impossible!
Maybe 1000 or 2000 or little more, but 11M? This is very serious money. l would say 10k will be maximum even for thinking about it! Just crazy idea! Title: Re: How 1BTC can eventually be worth $11M Post by: PizzaBTC on January 24, 2016, 07:32:13 AM This is impossible! Maybe 1000 or 2000 or little more, but 11M? This is very serious money. l would say 10k will be maximum even for thinking about it! Just crazy idea! Yes bitcoin will never reach $11 million. That will never be possible, It’s just a crazy thought by some bitcoin users. Even if all banks in the world start accepting bitcoin, it will never reach even $2000. Title: Re: How 1BTC can eventually be worth $11M Post by: YoonYeonghwa on January 24, 2016, 07:33:21 AM Maybe 1 day Bitcoin will reach that price, but it is not going to be for a very loooooong time.
Title: Re: How 1BTC can eventually be worth $11M Post by: rickadone on January 24, 2016, 07:54:00 AM Maybe 1 day Bitcoin will reach that price, but it is not going to be for a very loooooong time. This can happen but I believe there is no need of long time. Bitcoin will reach $1million by 2020. If bitcoin is to increase to the highest level, I think that will be by the time of replacing gold as the international medium of exchange. Title: Re: How 1BTC can eventually be worth $11M Post by: krunox123 on January 24, 2016, 07:56:32 AM This is impossible! Maybe 1000 or 2000 or little more, but 11M? This is very serious money. l would say 10k will be maximum even for thinking about it! Just crazy idea! Yes bitcoin will never reach $11 million. That will never be possible, It’s just a crazy thought by some bitcoin users. Even if all banks in the world start accepting bitcoin, it will never reach even $2000. Well, nobody knows the future of Bitcoin. Title: Re: How 1BTC can eventually be worth $11M Post by: Blue_Panda73 on January 25, 2016, 08:52:34 AM Maybe 1 day Bitcoin will reach that price, but it is not going to be for a very loooooong time. If the price rises 30% a year, in 30 years, it will rise 2619 fold, times that with $400, the price will be $1m each. So the rise ratio has to be higher. Title: Re: How 1BTC can eventually be worth $11M Post by: MWesterweele on May 29, 2016, 01:22:47 AM I think 1 Bitcoin worth $11M will take too long to be achieve.Lets estimate maybe 40-80 years from now or even more.Bitcoin hitting $1,000 is hard this time small increase on price then suddenly drop again.If $11m would be possible its a dream.Im just expecting bitcoins price will just reach $2000-$5000
Title: Re: How 1BTC can eventually be worth $11M Post by: Shrinath on February 11, 2018, 10:56:47 PM There are a lot of opinions on what Bitcoin means for the future. Former Federal Reserve Chairman Alan Greenspan says that Bitcoin is a bubble with no intrinsic currency value. But a recent poll of current bitcoin owners reveals that a majority believe 1 BTC will be worth $10,000 by the end of 2014. The Winklevoss Twins, famous for their disputed role in the creation of Facebook, believe that 1 BTC will soon be worth USD $40,000, but ‘it could be much larger’ (and they’re not kidding around: they recently bought 1% of all bitcoins in existence for USD $11M). And prominent Silicon Valley venture capitalist Chris Dixon recently stated that he believes that 1 BTC will eventually be worth USD $11,000,000. But what everyone agrees on is that Bitcoin is a truly astonishingly clever invention without precedent. Whether bitcoins are eventually worth a great deal, or they lose all their value and are merely a prelude to another form of digital currency remains to be seen. There is certainly still risk here, and a lot of things still have to play out before Bitcoin reaches its full potential. I don’t want to paint a rosy picture of 100% certainty — and not call out the risk factors. They are there, and they are real
Title: Re: How 1BTC can eventually be worth $11M Post by: joebrook on February 11, 2018, 10:59:13 PM I think 1 Bitcoin worth $11M will take too long to be achieve.Lets estimate maybe 40-80 years from now or even more.Bitcoin hitting $1,000 is hard this time small increase on price then suddenly drop again.If $11m would be possible its a dream.Im just expecting bitcoins price will just reach $2000-$5000 I am very much optimistic in investing into Bitcoins but I tell you that 1 BTC reaching that value though it is possible may happen way before most of the current generation have passed from the earth.Title: Re: How 1BTC can eventually be worth $11M Post by: sabine80 on February 13, 2018, 02:28:07 AM At least a possibility somewhere between 2040 and 2100? Well, even if it's just 1% of that, it's still $114 761 in today's value. That's enough to buy a fairly decent place to live in most countries. oh, $11m between the year 2040 and 2100. what a great price prediction, but i think, in the year 2100 im not alive anymore. hope i still alive when bitcoin reach $1m. ;) Title: Re: How 1BTC can eventually be worth $11M Post by: Shitcoins Whale on February 13, 2018, 03:05:03 AM What are you smoking, bro? ;)
I am sorry if I have to disappoint you about Bitcoin surviving a nuclear holocaust. Nothing would. Title: Re: How 1BTC can eventually be worth $11M Post by: bitcoinsc on February 13, 2018, 06:46:54 AM sounds like an economy full of FOMO.
Title: Re: How 1BTC can eventually be worth $11M Post by: Qpeeps on February 13, 2018, 11:35:51 AM After reading your post I got pretty sure we won't even make iy to 1 Million $. :)
Title: Re: How 1BTC can eventually be worth $11M Post by: josegr4ham on February 13, 2018, 11:37:38 AM It is a long way to the $11M but it could be possible. For now I am curious when it hits $100K. Will it be this year or the next one?
Title: Re: How 1BTC can eventually be worth $11M Post by: Jalum on February 13, 2018, 01:09:27 PM It is a long way to the $11M but it could be possible. For now I am curious when it hits $100K. Will it be this year or the next one? You probably won't get your 11 million for 1 Bitcoin anytime this year. If Bitcoin is around for 20 more years then maybe.Title: Re: How 1BTC can eventually be worth $11M Post by: Cassandraa9 on February 17, 2018, 07:50:34 PM New standard may replace bitcoin in future. Bitcoin may worth more than what it is now, but $11M (even $100k) is very difficult.
Title: Re: How 1BTC can eventually be worth $11M Post by: budi691 on February 17, 2018, 08:27:11 PM My prediction is same but not that optimistic. I plan to save as much btc as I can so if one day BTC worth 6 or 7 digit numbers I can be rich!.. ;D a good opinion. of course everyone does that. unfortunately all are still in the prediction stage. but it would not hurt either to start saving bitcoins for a good future. especially in bitcoin. ;D ;D ;D Title: Re: How 1BTC can eventually be worth $11M Post by: udivkx on February 17, 2018, 09:10:04 PM This is too crazy price and I advise you not to make such assumptions, so as not to be disappointed. And it will be problematic to live up to this time to make sure that bitcoin is able to reach such a huge figure.
Title: Re: How 1BTC can eventually be worth $11M Post by: Dico88 on February 17, 2018, 11:31:35 PM For me to reach $ 11 million takes a very long time and the process is long for bitcoin, but I think it is impossible though so honestly I also hope it can happen and others want to like I expect. 8)
Title: Re: How 1BTC can eventually be worth $11M Post by: danggoron on February 18, 2018, 12:00:10 AM For me to reach $ 11 million takes a very long time and the process is long for bitcoin, but I think it is impossible though so honestly I also hope it can happen and others want to like I expect. 8) You are right. It could happen, but it takes a very long time. Maybe we're gone. And it happened in the days when the car flew into a day-to-day vehicle. But it could happen sooner, if legality is recognized around the world, and technological changes and innovations are growing fast. |