21 millions bitcoiners

[GODLIKE]

What will be the value of one Bitcoin when the number of users (people that will want to use Bitcoin) will hit 21 millions?

At this point, if each user wanted to have 1 Bitcoin, will have to pay a certain number of $ or € or Y, whatever. I'm going with $ just because it's the most used around the world.

How many $ do you think that person, the n. 21 millionth, who wants to buy 1 BTC will have to pay to obtain it?

My wild guess is: 160000 $.

[AtheistAKASaneBrain]

What will be the value of one Bitcoin when the number of users (people that will want to use Bitcoin) will hit 21 millions?

At this point, if each user wanted to have 1 Bitcoin, will have to pay a certain number of $ or € or Y, whatever. I'm going with $ just because it's the most used around the world.

How many $ do you think that person, the n. 21 millionth, who wants to buy 1 BTC will have to pay to obtain it?

My wild guess is: 160000 $.

A lot more than we thing probably. Always take into account there are way less coins available than 21 million, a ton of them are lost forever, and a lot more aren't even mined yet, so if that threshold is surpassed the price goes higher. I cant honestly give you an exact number. I like the Xapo's CEO prediction: between 500.000 and 1 MM dollars.

[jjacob]

What will be the value of one Bitcoin when the number of users (people that will want to use Bitcoin) will hit 21 millions?

At this point, if each user wanted to have 1 Bitcoin, will have to pay a certain number of $ or € or Y, whatever. I'm going with $ just because it's the most used around the world.

How many $ do you think that person, the n. 21 millionth, who wants to buy 1 BTC will have to pay to obtain it?

My wild guess is: 160000 $.

A lot more than we thing probably. Always take into account there are way less coins available than 21 million, a ton of them are lost forever, and a lot more aren't even mined yet, so if that threshold is surpassed the price goes higher. I cant honestly give you an exact number. I like the Xapo's CEO prediction: between 500.000 and 1 MM dollars.

Not to forget Satoshi's coins, which I think will never be used.
21 million users is not too outrageous. It is just 2% of facebook's active users.
I would say $10k will be breached when this happens.

[gentlemand]

There's a very small amount of people sitting on a great deal of coins. If there were that many people clamouring in quick succession it's quite possible sellers would just go on strike and the price would way overshoot a realistic value.

[Amph]

What will be the value of one Bitcoin when the number of users (people that will want to use Bitcoin) will hit 21 millions?

At this point, if each user wanted to have 1 Bitcoin, will have to pay a certain number of $ or € or Y, whatever. I'm going with $ just because it's the most used around the world.

How many $ do you think that person, the n. 21 millionth, who wants to buy 1 BTC will have to pay to obtain it?

My wild guess is: 160000 $.

A lot more than we thing probably. Always take into account there are way less coins available than 21 million, a ton of them are lost forever, and a lot more aren't even mined yet, so if that threshold is surpassed the price goes higher. I cant honestly give you an exact number. I like the Xapo's CEO prediction: between 500.000 and 1 MM dollars.

too much i think, it does not scale well with the possibility of having 1B people using bitcoin, i mean if with only 21M people you have already one btc at 1M which mean 33k times higher, than at 1B you will have something which will suprass the whole world's GDP by an order of magnitude...

[GODLIKE]

What will be the value of one Bitcoin when the number of users (people that will want to use Bitcoin) will hit 21 millions?

At this point, if each user wanted to have 1 Bitcoin, will have to pay a certain number of $ or € or Y, whatever. I'm going with $ just because it's the most used around the world.

How many $ do you think that person, the n. 21 millionth, who wants to buy 1 BTC will have to pay to obtain it?

My wild guess is: 160000 $.

A lot more than we thing probably. Always take into account there are way less coins available than 21 million, a ton of them are lost forever, and a lot more aren't even mined yet, so if that threshold is surpassed the price goes higher. I cant honestly give you an exact number. I like the Xapo's CEO prediction: between 500.000 and 1 MM dollars.

Not to forget Satoshi's coins, which I think will never be used.
21 million users is not too outrageous. It is just 2% of facebook's active users.
I would say $10k will be breached when this happens.

I don't know, I think that when we will be heading towards 21 millions users, there will be so much rising in request already that the price will blow up in unpredictable manner.
It will probably also spike up into a bubble and then fall back down to the real value.
And I think Satoshis will much probably be used before 10 years from now.

[NorrisK]

Remember if bitcoin becomes too expensive to use (eg. a satoshi is worth more than a cent) there can always be alternatives like litecoin for the cheaper transactions and bitcoin to store the wealth.

[GODLIKE]

What will be the value of one Bitcoin when the number of users (people that will want to use Bitcoin) will hit 21 millions?

At this point, if each user wanted to have 1 Bitcoin, will have to pay a certain number of $ or € or Y, whatever. I'm going with $ just because it's the most used around the world.

How many $ do you think that person, the n. 21 millionth, who wants to buy 1 BTC will have to pay to obtain it?

My wild guess is: 160000 $.

A lot more than we thing probably. Always take into account there are way less coins available than 21 million, a ton of them are lost forever, and a lot more aren't even mined yet, so if that threshold is surpassed the price goes higher. I cant honestly give you an exact number. I like the Xapo's CEO prediction: between 500.000 and 1 MM dollars.

OK but just give your quote! 

[GODLIKE]

Remember if bitcoin becomes too expensive to use (eg. a satoshi is worth more than a cent) there can always be alternatives like litecoin for the cheaper transactions and bitcoin to store the wealth.

The problem is, if Litecoin isn't so rock solid in value like Bitcoin, people will still want Bitcoin to store their assets.
N. of people trusting in the cryptocurrency is EVERYTHING that gives value to that cryptocurrency.
At least, at the moment, and for quite much time still.

[GODLIKE]

Remember if bitcoin becomes too expensive to use (eg. a satoshi is worth more than a cent) there can always be alternatives like litecoin for the cheaper transactions and bitcoin to store the wealth.

There's no "too expensive" term.
People will buy what they can.
Much, much probably, 21 millionth Bitcoin adopter won't be able to buy an entire Bitcoin anyway.

[noideacoin]

There's a very small amount of people sitting on a great deal of coins. If there were that many people clamouring in quick succession it's quite possible sellers would just go on strike and the price would way overshoot a realistic value.

IMHO those very few people actually control the majority of bitcoins. This is a problem that not many people like to face or address. It is one of the things that keeps us from hitting mainstream.

Top Hoarder: "Hey world, accept this new form of currency. Sure I own and control 8% of all of it, but it is great. DECENTRALIZATION FTW."

World: "No thanks, that would give you singly way too much power. I think we will find a different way to revolutionize money."

[LiteCoinGuy]

Remember if bitcoin becomes too expensive to use (eg. a satoshi is worth more than a cent) there can always be alternatives like litecoin for the cheaper transactions and bitcoin to store the wealth.

so bitcoin Mars and Litecoin Moon  ?

but in every case: we should switch to bits because people are confused, they tend to think that they can only buy 1 Bitcoin 

[Za1n]

Remember if bitcoin becomes too expensive to use (eg. a satoshi is worth more than a cent) there can always be alternatives like litecoin for the cheaper transactions and bitcoin to store the wealth.

Well that would mean one bitcoin would be worth more than $1 million. I thought that they could always add more decimal places if that were ever to happen.

[GODLIKE]

There's a very small amount of people sitting on a great deal of coins. If there were that many people clamouring in quick succession it's quite possible sellers would just go on strike and the price would way overshoot a realistic value.

IMHO those very few people actually control the majority of bitcoins. This is a problem that not many people like to face or address. It is one of the things that keeps us from hitting mainstream.

Top Hoarder: "Hey world, accept this new form of currency. Sure I own and control 8% of all of it, but it is great. DECENTRALIZATION FTW."

World: "No thanks, that would give you singly way too much power. I think we will find a different way to revolutionize money."

Totally agree, whales should sell their amount or they would have too much power.

[H_H]

coinbase has a wallets in circulation chart

it's many millions and the more wallets they put out the cheaper btc gets

so 21 M wallets would be 30 buck btc if you look at the most recent growth of users to value the past 18 months

lot's of new users and value is way down

so recent data shows the more people with btc wallets or btc, the less value it has

now if you got data that shows something the last 18 months use it

the big hype in btc was related to the negative news, the big bust of the pirate

oh btc is used by drug dealers, let me get some

bingo, 50 buck btc went to 1200 btc

then it's been in free fall since

millions of new users and huge value losses

so to say 21m wallets means X value has no basis in reality

you look at the big value bubble it was negative news saying btc was how drug dealers moved money around

bingo lots of newbs buying and price spike

now users is growing in mega millions as coinbase wallet data shows

yet the value is in free fall

so more users puts the value around 30 bucks

if you understand the last 18 months of negative value growth and how more users did nothing to help the value

[noideacoin]

coinbase has a wallets in circulation chart

it's many millions and the more wallets they put out the cheaper btc gets

so 21 M wallets would be 30 buck btc if you look at the most recent growth of users to value the past 18 months

lot's of new users and value is way down

so recent data shows the more people with btc wallets or btc, the less value it has

now if you got data that shows something the last 18 months use it

the big hype in btc was related to the negative news, the big bust of the pirate

oh btc is used by drug dealers, let me get some

bingo, 50 buck btc went to 1200 btc

then it's been in free fall since

millions of new users and huge value losses

so to say 21m wallets means X value has no basis in reality

you look at the big value bubble it was negative news saying btc was how drug dealers moved money around

bingo lots of newbs buying and price spike

now users is growing in mega millions as coinbase wallet data shows

yet the value is in free fall

so more users puts the value around 30 bucks

if you understand the last 18 months of negative value growth and how more users did nothing to help the value

https://i.imgur.com/4xT7Ozy.jpg

[GODLIKE]

coinbase has a wallets in circulation chart

it's many millions and the more wallets they put out the cheaper btc gets

so 21 M wallets would be 30 buck btc if you look at the most recent growth of users to value the past 18 months

lot's of new users and value is way down

so recent data shows the more people with btc wallets or btc, the less value it has

now if you got data that shows something the last 18 months use it

the big hype in btc was related to the negative news, the big bust of the pirate

oh btc is used by drug dealers, let me get some

bingo, 50 buck btc went to 1200 btc

then it's been in free fall since

millions of new users and huge value losses

so to say 21m wallets means X value has no basis in reality

you look at the big value bubble it was negative news saying btc was how drug dealers moved money around

bingo lots of newbs buying and price spike

now users is growing in mega millions as coinbase wallet data shows

yet the value is in free fall

so more users puts the value around 30 bucks

if you understand the last 18 months of negative value growth and how more users did nothing to help the value

You don't seem to understand what I meant.
I didn't talk about WALLETS, I talk about USERS.
I know there's a huge number of wallets out there and they in no way represent the real number of users.
I myself had installed and uninstalled at least 6-7 different software wallets and subscribed to several websites with webwallets.

Also, it looks you are really badly informed on how the MtGox question brought the value of Bitcoin to the stars.
It was MtGox itself manipulating the market and sending Bitcoin value to the moon, NOT the fact that MtGox was caught.

Also, there was no real "value loss", unless you bought Bitcoin at those unreal prices (and those who did... well... lol), because the REAL price was before MtGox manipulated the market.

The loss of value is due to several reasons, but nobody can say which is the most influencing.
Personally, I think many are selling Bitcoin because they didn't see their investment come true in an year or two. That is naive, but they are probably dumping because of this. They expected Bitcoin to be adopted by millions and millions of people in a couple years? Extremely naive.
Also, mining difficulty hit a wall and this took off some value as well.
But just wait that the number of Bitcoins goes from 25 to 12.5 per block...

So, basically, if you think that Bitcoin will decrease in value, as more and more people will increase its reputation and adopt it, you are COMPLETELY out of way.

[GODLIKE]

That wasn't the main problem in his post, dude... would have been glad if it was 

[anderson00673]

What will be the value of one Bitcoin when the number of users (people that will want to use Bitcoin) will hit 21 millions?

At this point, if each user wanted to have 1 Bitcoin, will have to pay a certain number of $ or € or Y, whatever. I'm going with $ just because it's the most used around the world.

How many $ do you think that person, the n. 21 millionth, who wants to buy 1 BTC will have to pay to obtain it?

My wild guess is: 160000 $.

A lot more than we thing probably. Always take into account there are way less coins available than 21 million, a ton of them are lost forever, and a lot more aren't even mined yet, so if that threshold is surpassed the price goes higher. I cant honestly give you an exact number. I like the Xapo's CEO prediction: between 500.000 and 1 MM dollars.

The crazy thing is that if you really look at the numbers, and consider that a reasonable number of people around the world start using bitcoin as a storage of value, then those numbers (500k-1mil) are not far fetched at all.

With the recent developments (nasdaq, citi bank, etc) I think btc awareness is growing, and we are fast approaching a turning point.

That being said, I don't think all that money would flow in to btc exclusively.  I think that what would happen is that other, better coins would have their caps raised as well.  For example a rise in ltc makes sense as the transaction time is much lower, or maybe one of the anon coins would get boosted.

Either way we are in exciting times.

[GODLIKE]

That being said, I don't think all that money would flow in to btc exclusively.  I think that what would happen is that other, better coins would have their caps raised as well.  For example a rise in ltc makes sense as the transaction time is much lower, or maybe one of the anon coins would get boosted.

Either way we are in exciting times.

This is a thing I love to talk about.
My thought is that REPUTATION is the biggest point in favour of a cryptocurrency at the moment.
This because cryptocurrencies are NOT trusted by the mainstream, and thus the one that will boom is the one that will have most users, because more users mean more reliability.
This is why Bitcoin is becoming more and more solid along time.

But of course there are other considerations to do.
Bitcoin is NOT the best technology around. And this could be its damnation in the future.
BUT, it's also true that Bitcoin technology CAN be updated.
So, let's say that Bitcoin WILL be kept up to date technologically, WHAT would a person push to invest in, say, Litecoin, instead than in Bitcoin?

Think about it: Bitcoin is the most implemented crypto around the world.
Sure, you can't use it so often or easily yet, but that's growing, while other crypto are at the bar. Frozen in there. Just used as a mean of exchange between themselves.
So get into a common person, that will want to buy a crypto in 2 years, why would they orient to Litecoin, instead than Bitcoin, that has been adopted by far more people, implemented in far more shops, and has (and will probably have) a far more solid value?

Be clear that I LIKE very much Litecoin, because it's capped higher, and I consider the 21 million Bitcoin cap too low.
But as Bitcoin CAN be made more granular, also this problem could disappear probably very quickly in the future, if needed.

Anyway, this is the real slot machine of the future: will altcoins survive? How many of them?
I think maybe 3 or 4 will survive, for a period and, unless Bitcoin is destroyed for some reason we can't imagine yet, other crypto will disappear in the end.