When the enigmatic Satoshi Nakamoto gave birth to Bitcoin in January 2009, he had no idea of the cataclysmic, far-reaching repercussions of his innovative solution to the double-spend problem. Although he was neither a superstar programmer nor a superstar mathematician, he whipped up an idea that would change the world.
The notion of million-dollar Bitcoin may seem damnably unrealistic, but consider that the cryptocurrency that was trading for pennies in 2009 has now soared to almost $1000 USD. From a dollar to a thousand dollars is a 100,000% rise. From a thousand dollars (its current price) to 1 million dollars is also a 100,000% rise. Bitcoin has a proven track record of this magnitude of appreciation.
The rise of Bitcoin has been anything but steady and reliable, with the price leaping and plummeting seemingly on the whim of an unfavorable news report, a hacked exchange, an ugly theft, or some nasty news out of China. Nonetheless, the trend has been inexorably upwards, and there is no reason to believe this trend will change. Here’s why …
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https://darknetmarkets.com/inevitability-million-dollar-bitcoin/It's all well and good for the price to rise by 100,000% if it's from practically nothing, but a rise to a million dollars is completely incomparable. By your logic the price could easily just rise by 100,000% again, as if the quantities of money involved stayed the same throughout, which is (obviously) an oxymoron.
Bitcoin's market cap is close to 20 billion dollars, so to rise to a million dollars it would have to be significantly closer to 20 trillion, which is more than the circulation in the US and many other countries put together. It's just ridiculous, especially with a blockchain that's currently not scaled or convenient.
