Bitcoin Forum

“But finally, I tell them, just go back and buy Bitcoin. A lot of people don’t have Bitcoin...Not too much. Only one is enough. If everyone would have just one, the Bitcoin value would go to $1 mln. When Bitcoin becomes $1 mln, the whole world would be crazy and everyone would love to follow and all the other digital currencies would just be the grandson of Bitcoin.”

You can see the video from a couple of days ago here : https://www.youtube.com/watch?v=Zh_mQl2B6es&feature=youtu.be (0:00 to 2:00 should be enough but you could continue)

1mln per bitcoin?? :D maybe in the next 100 yrs were we all dead :D

we wont survive this...i think its impossible...1k $ or maybe 10k dollar per btc but not a million

When Bitcoin becomes $1mn, every satoshi will be worth 1c.
There will be no more dust transactions and no more bitcoin faucets. Plus I won't be working.  ;)

Another  insane  speculation on which the  price  is  too unrealistic to consider. As others said  here if that  amount would reach  then we are all dead and  our grand grand sons would able to witness that  event but  i really dont think that  this  things would happen  because  saying $1m/bitcoin is  no joke and  assuming that all people  are already using  it  globally and  would be the mainstream for sure.

I agree, just releasing words without any substance in it.  I would believe if he will say bitcoin will reach 10k USD but 1 million, I doubt it, I can speculate that we are using other cryptocurrency or another cryptocurreny had replaced bitcoin even before it reach half of the value of what the video is saying.

That's right, 1 Million USD price for 1 bitcoin is very over price and almost a fantasy because bitcoin will need a lot of time to reach that and somehow even before that 1Million price, bitcoin is starting to die and most of the miners are shutting down their mining rigs because of the very high mining difficulty and that price will just considered as a fantasy.

He actually spoke about the 10,000$ too and he said we should reach that before reaching 1 million dollar. His statements aren't crazy at all considering that he is an Entrepreneur and he is one of the biggest miners in China and If you see what he said , It would make sense... If everyone buys BTC then this will be an easy task to achieve.

He is saying this because he also believe in bitcoin and as miner he have more than any normal guy or company have so basically he want this more than anyone else.

It is true that marketcap of bitcoin can grow exponentially with the increasing demand however to reach a point or level of adoption where everyone around the world start buying 1 bitcoin and saving it, we may have to wait a 100+ year so hard to predict situation by than. It is also true online payment industry is worth of trillions of dollar per day so bitcoin can easily take majority of those in its market cap so better to expect atleast 10x price after few years.

Come on you talking of a million dollars when we haven't even got to a 1000 dollars per bitcoin as of 2016 maybe this will be possible after 5 generations

Well, less than ten years ago when bitcoin was worth just $0.01-$0.02, people thought those who were saying bitcoin could reach $100 or even $1k were crazy.

1M dollars mean that the marketcap will be more than the one of gold, because 1M x 21M = 21 trillion, and the cap of gold is 7 trillion, this is huge it's 3 times+ the marketcap of gold, and not really so simply as he is making it to be, it would be good at $10k already, i hope for that

Nope...  If Amazon.com ( AMZN 2.94% )   adopted bitcoin for all payments, its volume of $38 billion, divided by a supply of (at the time of the email’s writing) about 7 million bitcoin, would make each bitcoin worth $5,400. If $300 billion in international remittance was conducted in bitcoin, that volume alone would push the price to $42,000. Adding these, along with online poker and gas station transactions, would lead to a total transaction volume of $602 billion — and a bitcoin, even at today’s expanded supply of 12 million coins, worth $50,000.

That is just for Amazon ..... Now imagine what would happen, if other platforms starts to accept Bitcoin as a payment option.  ;)

so basically with all what he say that if every person have 1 bitcoin each and save it then the price will automatically reach to $1 million and i think life is not always as much fun as it and he say too bitcoin currently is very cheap only couple hundreds of dollar so this is the right time to buying bitcoin before the price raising up but in my opinion this person are totally speculate because even most people to do that i don't think the highest price would be $1 million and i do not trust for what he said

1 million per bitcoin is more than anyone can imagine however $10,000 sound rather practical and we may see it by next 10-20 years if bitcoin network remain working and support grows.

Is this post a troll post? This number sounds a bunch more reasonable, but am I wrong. Is the potential there to have that much growth? Or is this actually just a waste of time thread.. 1 Bit Coin reaching 1 million dollars would change the top 1% a decent amount.

$100.000 for 1 Bitcoin is still a modest estimate for a global payment system with a limited supply of 21 19-20 million coins.

It's amazing that people are still shellshocked by these facts...


https://i.imgur.com/bPveIiYl.png?2

Keep in mind that hyperinflation of the dollar can happen in the future. $1 million may only be equivalent of $10,000 of today's USD.

Not so sure...recently it was considered to remove Russia from the Swift network. Sort of the nuclear option amongst sanctions.

Then what would Russia do? Cave in? Send money via courier?

They could just start using the Bitcoin network. It works, it is unstoppable, it cannot be sanctioned. An event like that would make BTC shoot over 10k USD within days.

Swift is used for transactions up to millions and billions, it would require Russia (and its trade partners) to buy extremely large numbers of Bitcoins, blasting orderbooks on all exchanges.

I am not saying 1 million is easy to reach, but 10k is nothing, given the very tiny market cap of BTC, compared to networks like Visa, Mastercard or the largest one, Swift.  :)

Exactly.
All we need is one big online service like Amazon or iTunes to start accepting Bitcoin,
and we could easily see prices in the thousands of dollars.
Also, once Amazon started accepting BTC, other big online retailers would naturally follow. This could push price up even further.
It will be a domino effect.

You know what else could hit $1m? Silver, per ounce. Will it happen? Probably not for a long time. Will it eventually hit $1m? Maybe. I wouldn't write it completely out of the possibilities, but it is still a fairly long ways away if it will happen. The community will have to continue growing and money will have to keep flowing for this to remotely be a possibility.

I believe it would take decades to reach 1 million dollar, that would give insane market cap.
On the other hand, I think that 10k is an achievable value for years to come. Perhaps in less than five years, if you ask me.

$10k is definitely still far away. A lot of milestones are a fairly long distance away. Right now we're still technically in the recovery stage from back in 2015, and we're still $500-$600 away from the ATH. I would call that a recovery stage. Once we're within $300, then you can consider us recovered and back to a growth stage.

$10k in 5 years? Maybe. I think it might be a bit longer ways away than that.

That was so poorly said, why bother even quoting it? Is this guy supposed to be famous or something? I don't get it.

There's no logic just HODL.

If bitcoin reaches $10,000 then anything is possible.  It's the inflection point we have all been waiting for.  Lightning network will expedient the flow of money from fiat to bitcoin.  Cheap and fast transactions.

If this will happen then everyone of us will be riches.. but I think it will take a lot of years before it does. For now, I'm hoping that it would reach $1000 and that is fine with me.

before saying "everyone of us will be rich" then you should think how much of us are holding bitcoin until the price just reach 1 million dollars
people are always need to pay for their monthly needs and no guarantee "everyone of us" could hold for a long time

this is hilarious hahaha if that's happen i guess the world blown up and we're not living in earth anymore . everychanges need some effect which is the economy should be balance to get all things work out. that's why we can't lose fiat system. we could use it both bitcoin and fiat system in everyday life. but if it's happen i would rather have the bitcoin as a digital currency but im happy where bitcoin's now.

i wish i could reach 1 btc before that happens haha iwould save my btc and wait til it happen. i will not work and im gonna get laid.  ;D
I will build a house and travel the world, make some friends all over the world and i could also see santa in north pole haha. but 10k usd is enough for me for 1 btc and im gonna workhard to earn more btc.

Its really going to be a long way and even hard to believe at that but come to think of it who would believe that Bitcoin would attract the value that it has today about years ago when it first came? But I agree that the prediction is a long shot and even me I wouldnt believe such because of the recent developments happening among which are not limited to regulations, government interests in the coming in the nearest future coupled with various alt coins striving hard to replace bitcoin. These and many other reasons could be a long obstacle against bitcoin in achieving that feat...

Correct. Since the price will not get there overnight people will sell of theirs stash. And sell again. And again. It all depends on what everybody expects and how the market evolves.
At the end some will be rich and some will have stories about how they sold (or bought!!) at 1k, 5k, ...100k and so on, in the same way now some have stories about buying at 5$ and selling at 1000$.
Bitcoin has a wonderful future, and the present time is part of it already. Now, how long and how good the things will get, we cannot know.

1 million $ sounds like a lot. But remember, Bitcoin has enough space after the decimal point to allow denomination to something more bearable if necessary.

You do have some points but theres still no guarantee and we just do believe because it's being said by a famous people or whatsoever. One thing here is no one could able to predict precise prices of bitcoin on near future because we are just humans and no one could see on what's ahead speculations might be reach hence bitcoin has do really the potential but reaching $1m price is too unrealistic to believe, if that amount reaches maybe we are all dead on that time.

Maybe in my dreams that thing can happen. It doesnt even reach a thousand a piece. Its just making laugh. I dont really think this thing could happen. Too far from what i expected and too good to be true. If bitcoin still exist for about million years maybe theres a chance. But not sure if earth exist that time. Lol

For now, the price of bitcoin is already good at the current price and is increasing slowly, I think it could reach 1000$ usd. But, at 1million dollar each bitcoin, I will be very happy and I don't think this would happen in the near future.

The time will tell what is going to happen of the valuation of bitcoin.

There are possibilities for bitcoin to reach $10,000 but for $1,000,000 is very ambitious prediction. I think we can't reach that in our lifetime since $10,000 is difficult to reach as of now. Since he did not give a timeline, it is mere speculation in my opinion but I know bitcoin will continue to rise.

Yeah, $1 Million seems too far far away from us now and talking about reach $1K is more reasonably as the price around $728 now.
there only 21 Million BTC will be ever exist and assuming there are almost 16 Million Bitcoins in circulation now (source : https://blockchain.info/charts/total-bitcoins) so just BTC5 left to mining. The price affected by supply and demand, governed by scarcity making bitcoin price flying to the moon. If everyone have just BTC1, the price should be reach $10K in 10-20 years but to achieve $1M, I can say impossible.

they were saying the same thing many years ago and does it happened i think not? the only thing that happened is that the goods now cost more, and you need more dollars, but the alue of the dollars is the same

this is worthless because all speculations like this who say bitcoin price to $X or $Y where X is a huge number and Y is a tiny number (like 100) are only big IFs which will always remain that big IF forever since their criteria for reaching that point is never met.

Actually more interesting than his million dollar prediction is his assessment of the venture capital / banking scene around Bitcoin. In my opinion, Chandler Guo is a smart guy that (despite weak English) clearly knows what he's talking about. He's able to filter the noise and see the big picture. Besides that, I simply think he has a nice personality. One of the few strangers I would instantly drink a beer with... :)

His prediction might seem outlandish today. But if you compare it with the total amount of money and debt in circulation it's not unrealistic at all. However it is unclear within what time frame Bitcoin might reach such a valuation and whether the buying power of fiat currencies will be nearly the same as today when it happens.

ya.ya.yo!

Yes, the most important thing - the timing, he did not say. It's a pity. Theoretically, we can talk about anything. Of course we would all be happy if his prediction was fulfilled in the next few years. And it is desirable to make it happen without any global financial crises

reading back through some of the comments here is interesting...

we'll never reach $1000, yet just months later we have sailed right through 1k.

10,000

100,000....

make it so!

That $10,000 price was too high for bitcoin. It is so expensive and it will make bitcoin exclusive to rich people because the poor people will no longer able to buy at least 1 bitcoin in that moment. But i think that is still possible for bitcoin to reach since we are just starting to invade the world and soon we will get in touch with $2,000 and after a few years we will experience $10,000 price 8).

Yes, bitcoin price is unpredictable. When last a lot of people who do not believe bitcoin price will reach $ 1,000 but now bitcoin could reach it. When now people do not believe bitcoin price could reach $ 1m maybe in the future it can be achieved, it is very unreasonable but we do not know in future. I actually do not believe, but with a limited number of bitcoin and more people are interested in using bitcoin, maybe it could happen. If that happens people can buy cars and even homes with 1 BTC. But if true, of course it is still a long time and now it is better to target the bitcoin price to $ 2,000.

Different people look at the different part of time, most are just looking at the moment, some are weeks, months and years from now.  Anything that is speculated beyond the limit of our knowledge are all guesses.  Though I can say they may happen if and only if they met certain criteria or requirements.  That 1 million dollar Bitcoin is an speculation about the price when the majority of the world adopted bitcoin, disregarding competition and government interventions.

Even today the miners do not want war. If war breaks exchanges, miners, mining pools, Bitcoin Classic, Unlimited Bitcoin, Bitcoin Core and other bitcoin companies , they will not be able to engage in mining and lose your money. They just want to keep it that way. If war breaks out and the price will crash, everyone will lose their money. Guo urged the key players to adhere to the Hong Kong agreement and instead start a real war, which can lead to the section of the blockchain, or even the appearance of two different coins (BTC and BTU), and to the collapse of the prices of both, to resolve this issue by agreement. He also suggested that if would still be able to reach some agreement, then the block can be increased to 1.2 MB without war and loss for all.

Nothing is impossible.As the op says if each and every person on this world own just a small amount of btc,it will become scarce and you can't imagine where it price would be.

There are only 16M bitcoins on circulations compared to 700M world populations hence buying just 0.001 bitcoins by half of world populations will be more than enough in rough calculations (why half ? we may need to consider about literacy/internet knowledge etc).

When people start buying one bitcoins, only few thousands people will be getting chances to buy at current price levels, after that they need to spend $10k or $100k for buying one bitcoins. So, in my understanding, BUYING/HOLDING ONE BITCOIN will not be possible for all human being of this earth.

Time frame is always important for any speculations. I believe bitcoin will reach 10M USD value too, but it will need more time like all 21M bitcoins to be mined out for that  ;)

As of now Bitcoin is not even 2000$ each, reaching 1 million dollars is kind of a fantasy but it might happen.

Imagine if we want Bitcoin as the world currency, to make it come true Bitcoin must have at least a million dollar value. Why? Because if Bitcoin only has let's just say 2000$ value and if we mined all bitcoins ( 21 million ).
21 million times 2000 = 42 billion
Even Bill Gates can buy all the bitcoins.
So in order to make it as a world currency it must have a higher value in order to provide all the currency needs of all people.

Hopefully  Gou can convinced both parties to agree with the agreement so that the long conflicts will be put at ease. When that happens Gous prediction that bitcoin will reach 1 million dollars each will become a reality in the future. The only problem that is holding that dream right now is the conflict and internal problems in bitcoin that leads to possible split and price meltdown.

However much people hope for the price to go much higher, he's clearly wrong.

He says "if everyone owned one".  Well, I hate to break it to him, but there's only 21 million Bitcoin ever to be created and there are over 7 billion people in the world.

Hehe your right and the 21 million bitcoin cap makes his statement everyone owning one impossible but it is possible one day that everyone will have some bitcoin at least if not 1 bitcoin then the one got less some got more bitcoin but it will be like fiat that way. I think that 1m$ per bitcoin is just to crazy for now but I won't say it is impossible. It is possible if it have been accepted by all and have been used as a currency like fiat but I don't think that will happen soon and it might not happen at all.

After reading OP I exactly hit at this point. The basis of his study is 1 bitcoin owning by everyone which is quite unrealistic due to limited supply as well as high prices.
Howsoever, it is not unrealistic to expect Bitcoin reaching 1 million dollars. With continuous increased engagement of Bitcoin in economies across the world, it is not exaggeration to expect that. Since the similar factorn limited supply will work in this case too.

Well that something to think about especially for us current btc holders. If it comes true then the wait would very well be worth it though im not sure how long we'll wait and if its even possible that everyone can have 1btc

maybe he sound wrong with that statement but i think he mean that if everyone hold a portion of bitcoin, maybe not a full bitcoin but a smaller amount, for example 7 billion need 0.003 each one, but another point to note is that with all the coins that were lost you can need to divide even more to have everyone have his fair amount of coins

Imagine 1 bitcoin for 1,000,000$ USD.
Its not possible for god's sake, unless the inflation on USD would get so high :D
Bitcoin isn't so limited that it might cost so much, we would need an extremely big group of people that adopted bitcoin to their everyday life, they would need to use only that currency.

Bitcoin world is unpredictable for sure, but I meet people like this everyday.
The difference between them is that one says bitcoin will reach 10,000$ and another one is completely sure that bitcoin will achieve price of 1 billion dollars.
Its like a fairytale, stop spreading that kind of bullshit and start making real analysis instead of guessing the price in next 10 years.

why is it so hard to imagine that, or think it is possible?
you know that 8 years ago bitcoin was literary worthless. i was worth 0 dollar, literary. then for a year or so it was worth less than a dollar. and then $1 and then $10 and then $100 and now we are sitting above $1000.

and you know what, if you look back at comments during the $10 or so price, people said the same thing. that $1000 is not possible.

I would love to see 1 million dollar per bitcoin, but we need segwit and lightning network for that. Also I can't take Chandler Guo seriously. He talks as if he has brain damage or something.

Who said that we need to own at least 1 full bitcoin? For what, to brag about it? As long as you own any fracture of the Bitcoin is fine, you don't need whole BTC for anything.

---

Secondly, why $1000 is perfectly fine price for BTC now and where is the price limit for a 'good price'? Is there even something like that with BTC?
Bitcoin is by many experts believed to be undervalued, taking into account its utility: currency, ultimate database, and features i.e. to be used as identity/ownership verification tool.

Technical analysis assumes that it is possible due to the trend in which bitcoin is on right now, but to be honest such figures would take tens of years—or wven a huge hyperinflation in the world market before it happens. It's not wrong to be optimistic but somehow we must remember how to be realistic.

I think that would be a wise idea to buy bitcoin even now with a current price of 1200$ for 1 coin. Better to change people mind about the whole idea of bitcoin and try to explain how it work and how you can buy a bitcoin via atm machines or some other ways

the valuable of bitcoin is depend on "China" if you read the news, It's up and down in a short time just all because about some rich guys , who holding a lots of bitcoin in China , selling or buying with a big amount. So i think you can become a rich man if you can speak chinese. haha

I like your spirit, but it is a bit risky, bitcoin still in development there will be a chance that bitcoin failed and you will lose your money, if you got an extra money to invest then bitcoin is the right platform, but putting your whole wealth and hoping it become 1 million dollar per bitcoin, still so far away

I don't like putting value on Bitcoin because for me it is priceless, not many people in the world will have the opportunity to have 1BTC, I think Chandler is just during his normal promotion of Bitcoin

But the problem is that his logic is flawed, didn't you notice? :P

If everyone had one bitcoin... Oh wait we only have 21 million bitcoins.

But sure, I think it is a great idea to start holding a bunch of bitcoins right now. It is a great hedge against fiat currencies just like gold and silver is. But it is easier to transfer across the globe so I think bitcoin is going to be more successful than something like precious metals(gold, silver, platinum, palladium).

If just 100,000 bought 1 bitcoin right now, that would drive up the price like crazy.

about bitcoin price until reach 1 million dollar every one bitcoin i think only joke, not serious analys
if true bitcoin price until reach one million dollar, bitcoin die, not people sending bitcoin again
because sending fee is expensive, example every send need 50k satoshi is equal 500 dollar,

I don't think that high price of bitcoin is possible to achieve and even if it does then there will be very people who would be holding their coins as most of the users will sell their coins even if it hits $5k in near future.

not really true, a very high value of bitcoin mean that the distribution is spreading correctly, therefore i the value increase to 1M it mean that eveyrone is holding a fraction of bitcoin

which is better than what we have now with many guys holding 100k coins and other holding zero, bitcoin must increase in value to ensure that everyone will have some of it

Anything is possible, especially with bitcoin but I doubt if it can happen in a hundred years. I also doubt if bitcoin ever overtakes the price of a gold bar (which is currently priced at around half a million dollars). Gold took a long time to have that much value, so I guess the same or even longer can be said about bitcoin.

There are not enough bitcoins for every person to hold a bitcoin since the limit is 21 million coins and that is without counting the coins that have not been mined yet and the coins that have been lost, so if everyone was trying to get a bitcoin at the same time the price of it will skyrocket like we have not seen before.

That's true, even at $2000 I bet a lot of people would like to cash in on their bitcoins so holding until it reaches 1million$ will be difficult for a lot of us as we will be potential billionaires along the way and might want to cash in before it reached 1 mil$ per coin.

It is not as difficult if you think of it as a long term investment, if I could afford it I would buy ten bitcoin, write the day I bought them and the price at  which I did and then keep them in a safe for 20 years in the worst case scenario you lose money and time, but in the best scenario you could retire with that money.

I am not as optimistic as you and I can’t think of bitcoin price as 1 million dollar. That’s not even in my day dream. It is not technically possible unless a miracle happens. It may reach up to 10,000 USD in another 7-10 years but not more.

However, if it happens then the world will have a new group of wealthy elite who will have the power to change the world for better. Also probably that time governments across the world will have to adopt the crypto currency in to their eco system.

Don't be sure about it, because Bitcoin is so unpredictable. In 2009, the exchange rate was around $0.001 per coin (in New Liberty Standard), and no one thought that it will rise by 100 times in just 2 years.

http://newlibertystandard.wikifoundry.com/page/2009+Exchange+Rate

And in 2011, no one thought that the exchange rates will increase from $0.1 per coin to $1,000 per coin in another 2 years (10,000 times).

Yes, you are totally right. Better to invest some small % of your income to bitcoin. It would be too risky to spend all of your money on that. People need to know that bitcoin it's only a thing that you can earn something from it, to be crazy with it it's maybe not a wise idea at al

If you are investing all your money only in bitcoins then you are putting your money and your life at big risk as you never know what will be the price of bitcoins in future and whether it will be alive or not and if it dies or disappears then it will make you bankrupt in no time.

Yes, it's silly to put all your money in one currency. After all, it can collapse at any moment and no one can accurately predict this, so smart people invest only a portion of the funds in bitcoin.

I agree. Optimism is good, but it is realistic that bitcoin has reached such a price for more than one year and its popularity is needed all over the world.

If you are planning for a profitable outcome you have to make sure that you enter at the right price ,as long as there is uncertainty regarding the scaling debate the price wont see yet another bubble so you could always get a chance to get the coin at a lower price ,always be smart when it comes to trading,after everything the price could bubble up from this current situation if everything settles well.

Ya, some random that I've never heard of say that bitcoins will reach $1million some day means nothing. It's worse than nothing, it's just stupidity. $1million at our current rate would be 40 years. The current rate won't hold steady forever.

This is possible for bitcoin to reach $1,000,000 price because we can just see as of now that a lot of different good things are happening just like adoptions and even getting more popularity for bitcoin and that what will be the fuel for our rocket to get up to the sky. There is no fixed price for bitcoin and it is almost getting always a pump price rather than dump so i believe that bitcoin could reach that very high price.

More and more countries are adopting bitcoin and they are on the starting stage right now. But lets imagine if the country has already spread the use of bitcoin to almost half of its population that would be a crazy increase in bitcoins demand  which will lead into an increased value. We are going to hit a major increase in value by the end of this year.

hurr durr... something that has already happened 4 times in the previous 7 (8 ) years is impossible...


0.01 - 1.00 = impossible!!!

1.00 - 10.00 = impossible!!!

10.00 - 100.00 = impossible!!!

100.00 - 1000.00 = impossible!!!

1000.00 - 10,000.00 = impossible!!!

10,000.00 - 100,000.00 = impossible!!!

100,000.00 - 1,000,000.00 = impossibru!!!

#obviously

Come on man, I like the idea but even if Amazon accepted Bitcoin they wouldn't be able to get every transaction to be conducted in Bitcoin. They can't control consumers. AND...if every transaction were conducted in bitcoin we'd have a big problem because at that point some federal government would be getting involved.

We need these major retailers to accept bitcoin and get their share of transactions up to 10% or so through bitcoin...not enough to mess with the major fiat currencies and plenty to boost value for the rest of us.

patience habbear, we need nothing!

the day will come soon enough when THEY NEED to get BTC to save their last few fiat turds, and we will only sell them satoshis...

They will be grateful!

Hmm this is impossible to happen bitcoin couldn't reach $3,000 and then here we come into 1 million dollar? Lol make sense people we don't know what really happen on next year if bitcoin gonna die or not how about looking forward 10 years from now?