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theunbeatable
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I could either watch it happen or be a part of it


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April 27, 2017, 12:06:07 PM
 #41

You're missing a point that Bitcoin can be cut down to small pieces. Well of course I can't blame you to make assumptions like that because we are in this field where we really should think of the future of what we are working. You're point is what if all the losses ( every system has a loss ) became so big that Bitcoin will run out of supply. Well it is possible ( even the fort Knox is said to be running out of gold ) but it will happen if there's a bug that ruined almost all of bitcoins.

Well it can happen but we're not letting this to happen. Just work wise and hard don't over think and help this community grow even more.
deisik
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April 27, 2017, 12:47:21 PM
 #42

There are a max of 21 million bitcoins. lets assume 5% of those are lost to forgotten addresses or other accidents. We now have 20 million coins. At a price of $1,000 per coin, that is 21 billion USD as a market cap. You cannot have a currency with such a low, irreversible cap. I do not see a future for BTC unless it rises to $100,000 per coin, which is unlikely
 Thoughts?

I guess many people have already said that Bitcoin in infinitely divisible and it "can be cut down to small pieces"

So there is no cap on how much one bitcoin can cost (1K or 1M dollars per coin), at least, theoretically. In practice, though, I also think that such prices are unlikely (I refer to 1M dollars, of course). But you still forget one important aspect which everyone here forgets to mention (I didn't read the whole thread but I bet that no one mentioned it). In short, you don't take into account money velocity, i.e. how often a given bitcoin changes hands within a certain period of time. Why is this important? The reason is quite simple, higher velocity effectively rises the number of coins in circulation. For example, if we have 20M bitcoins and one bitcoin changes hands once a year, then increasing velocity just two times (i.e. the same bitcoin would change hands twice a year) will have the same effect as if there were 40M bitcoins in circulation. Thereby, we can conclude that the number of coins as such is not a very meaningful measure itself if we are to consider events in progress as they are in real life

coszy
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April 27, 2017, 12:51:01 PM
 #43

There are a max of 21 million bitcoins. lets assume 5% of those are lost to forgotten addresses or other accidents. We now have 20 million coins. At a price of $1,000 per coin, that is 21 billion USD as a market cap. You cannot have a currency with such a low, irreversible cap. I do not see a future for BTC unless it rises to $100,000 per coin, which is unlikely
 Thoughts?

Bitcoin will be an additional currency while users will actively perform transactions. The depreciation of the coin is not ruled out, but it is too early to think about it.
bravehearth0319
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April 27, 2017, 02:38:13 PM
 #44

There are a max of 21 million bitcoins. lets assume 5% of those are lost to forgotten addresses or other accidents. We now have 20 million coins. At a price of $1,000 per coin, that is 21 billion USD as a market cap. You cannot have a currency with such a low, irreversible cap. I do not see a future for BTC unless it rises to $100,000 per coin, which is unlikely
 Thoughts?

Maybe you are right, $100,000 is the serious price per coin. But $2000 is possible this year, so this is 42 billion USD it already changing the opinion or is not?
Why not price rise in next two years on $4000
Agreed, if 100,000$ happen into bitcoin it will surely many of the bitcoin holder will become rich at once. But 2000$ this year was really achievable to be happen like what happened at the present time now the value price of bitcoin was 1315$ which is not bad and getting higher  in progress.
xypos
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April 27, 2017, 02:54:44 PM
 #45

There are a max of 21 million bitcoins. lets assume 5% of those are lost to forgotten addresses or other accidents. We now have 20 million coins. At a price of $1,000 per coin, that is 21 billion USD as a market cap. You cannot have a currency with such a low, irreversible cap. I do not see a future for BTC unless it rises to $100,000 per coin, which is unlikely
 Thoughts?
Well, I dont understand why bitcoin has to be a currency used worldwide, or even in some country. It is just a first cryptocurrency that has been ever made, it does not mean that it is something which cannot be improved.
Who said that it is necessary for bitcoin to become a cryptocurrency which will be used in every single country at the world, as a main payment option. I dont think that this is even possible, because many reasons (market cap, as you have already said) for example, as far as we know only Japan government wants to adopt bitcoin, but other countries for now have not chosen.
Anyway, any country won't implement bitcoin as a currency because of one extremely important issue: they cannot control the emission of this crypto, and they basically cannot influence it in any way except through the market.
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