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Author Topic: The $1 Million Dollar Bitcoin  (Read 25268 times)
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October 11, 2015, 09:50:25 AM
 #1

For 1 Bitcoin to be worth $1,000,000, the total market cap of Bitcoin would have to be $21 trillion dollars. What are the odds of this happening?

For reference, the amount of physical $dollars and coins in circulation are around $1.2 trillion. The global M2 money supply of all currencies are around $45 trillion. The market cap of all mined gold is around $7 trillion.

Will 1 Bitcoin be worth a million dollars? Half a million? Thoughts?

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October 11, 2015, 09:54:40 AM
 #2

Could really justify this using the mathematical notation for probability and assumptions .Matter of fact it takes too much time to come up with the next to accurate number .I will give an answer if i can form a equation out of your topic and solve it. Cheesy

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October 11, 2015, 10:15:33 AM
 #3

It's not going to happen, not even $10,000 in plenty of years. We might be lucky if we'll see the price go to $2000 as max ATH, which isn't that unreasonable after we manage to get more investor money on board. But at this point it's a million miles away  Wink

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October 11, 2015, 10:24:27 AM
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No way that's happening. Even half a million is out of the question. The whole global financial structure would have to be running on Bitcoin for those kind of prices. Even parity with gold seems to me impossible.

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October 11, 2015, 10:48:34 AM
 #5

it could happen maybe, in the very unlikely scenario that all major fiat currency will collapse and everyone is forcing to adopt bitcoin in some way

only the massive usage of bitcoin, on a planetary scale can lead to an impressive value like that
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October 11, 2015, 10:50:28 AM
 #6

For 1 Bitcoin to be worth $1,000,000, the total market cap of Bitcoin would have to be $21 trillion dollars. What are the odds of this happening?

For reference, the amount of physical $dollars and coins in circulation are around $1.2 trillion. The global M2 money supply of all currencies are around $45 trillion. The market cap of all mined gold is around $7 trillion.

Will 1 Bitcoin be worth a million dollars? Half a million? Thoughts?

It's not going to happen , that's for sure , I mean even if it does it won't happen until many years and when that happens 1 million $ won't worth the same as now , let us reach 10k $ at least then we can talk .
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October 11, 2015, 11:01:39 AM
 #7

Yes it could happen, if it becomes huge and used worldwide in trading and financial businesses. Even experts are acknowledging this scenario, but giving it just 0.02% chances of happening. Well even 0.02% is better than 0 chances! Smiley

http://www.coindesk.com/wedbush-report-projects-400-bitcoin-price-by-2016/
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October 11, 2015, 11:12:00 AM
 #8

For 1 Bitcoin to be worth $1,000,000, the total market cap of Bitcoin would have to be $21 trillion dollars. What are the odds of this happening?

For reference, the amount of physical $dollars and coins in circulation are around $1.2 trillion. The global M2 money supply of all currencies are around $45 trillion. The market cap of all mined gold is around $7 trillion.

Will 1 Bitcoin be worth a million dollars? Half a million? Thoughts?

Could it be worth 1 million? Yes. Would it? Almost certainly not. We would need bitcoin to be accepted everywhere worldwide if not being many nations defacto currency. I think the best we could hope for is it being worth several thousands.
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October 11, 2015, 11:32:57 AM
 #9

For 1 Bitcoin to be worth $1,000,000, the total market cap of Bitcoin would have to be $21 trillion dollars. What are the odds of this happening?

For reference, the amount of physical $dollars and coins in circulation are around $1.2 trillion. The global M2 money supply of all currencies are around $45 trillion. The market cap of all mined gold is around $7 trillion.

Will 1 Bitcoin be worth a million dollars? Half a million? Thoughts?
Bitcoin will never worth $1M, atleast not in our whole life but we may see the price of $1000 within next few years that is good price IMO
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October 11, 2015, 11:55:05 AM
 #10

I guess this will never happen sir. $ 1,000,000 is the price too high and unreasonable for a digital currency.

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October 11, 2015, 12:02:56 PM
 #11

Yes it could happen, if it becomes huge and used worldwide in trading and financial businesses. Even experts are acknowledging this scenario, but giving it just 0.02% chances of happening. Well even 0.02% is better than 0 chances! Smiley

http://www.coindesk.com/wedbush-report-projects-400-bitcoin-price-by-2016/

was just reading the article you posted and I have to say it's not that good if you ask me , I was hoping it will reach more then that by the halving block reward ... 400$ is literally nothing if we compare it to the other years (2013-2014)
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October 11, 2015, 12:08:21 PM
 #12

no never, ever
unless a loaf of bread reaches $200 each maybe

realistically I can't see ever over very low xx,xxx and that's max
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October 11, 2015, 12:13:28 PM
 #13

For 1 Bitcoin to be worth $1,000,000, the total market cap of Bitcoin would have to be $21 trillion dollars. What are the odds of this happening?

For reference, the amount of physical $dollars and coins in circulation are around $1.2 trillion. The global M2 money supply of all currencies are around $45 trillion. The market cap of all mined gold is around $7 trillion.

Will 1 Bitcoin be worth a million dollars? Half a million? Thoughts?
Bitcoin will never worth $1M, atleast not in our whole life but we may see the price of $1000 within next few years that is good price IMO

Personally I'm quite sure that Bitcoin will reach USD 1 million within the next 10-30 years or even sooner. Given the current monetary policy the USD will inflate at a much accelerated rate in the future. So you will have a $1m Bitcoin, but that will not be comparable to today's purchasing power.

My estimate is that Bitcoin will reach a value somewhere between $10k and 100k at today's purchasing power within my lifetime.

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October 11, 2015, 12:15:53 PM
 #14

i think a realistic price for bitcoin is $5000 at most. dreaming about a million dollar per bitcoin is simply not realistic. some people don't seem to understand that.
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October 11, 2015, 12:25:43 PM
Last edit: October 21, 2015, 12:31:02 PM by n2004al
 #15

For 1 Bitcoin to be worth $1,000,000, the total market cap of Bitcoin would have to be $21 trillion dollars. What are the odds of this happening?

For reference, the amount of physical $dollars and coins in circulation are around $1.2 trillion. The global M2 money supply of all currencies are around $45 trillion. The market cap of all mined gold is around $7 trillion.

Will 1 Bitcoin be worth a million dollars? Half a million? Thoughts?

I don't think so. Even I hope (and theoretically this hope is almost sure) that bitcoin arrive a very high price I don't think that this price will be so high. Have no reason to go so high. I love but it is only a digital coin or in other words an ensemble of zero and ones. I think that there it will be a strong concurrence to it from other currencies produced by only country which probably will be adopted as a national currency or to support their national currency. Every country will protect and stimulate its digital currency. The most big and important countries of the world like Russia and USA are thinking since now about this option. They will try maybe to eliminate forever bitcoin or at least to decrease its importance in the world. Bitcoin have not protection except the volunteers which produce, use and spread it. It is not possible that those volunteers have the power of the above countries and maybe other which will unite with those in the future. If the bitcoin will be banned from every country will be no future for it. This option it is something that must be counted.
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October 11, 2015, 12:49:17 PM
 #16

If it stayed alive long enough and the dollar still existed then it's borderline inevitable that there'll be a million dollar coin one day. At today's buying power? It would've had to have conquered the world.

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October 11, 2015, 01:04:40 PM
 #17

Yes it could happen, if it becomes huge and used worldwide in trading and financial businesses. Even experts are acknowledging this scenario, but giving it just 0.02% chances of happening. Well even 0.02% is better than 0 chances! Smiley

http://www.coindesk.com/wedbush-report-projects-400-bitcoin-price-by-2016/

was just reading the article you posted and I have to say it's not that good if you ask me , I was hoping it will reach more then that by the halving block reward ... 400$ is literally nothing if we compare it to the other years (2013-2014)

Yes, I agree that they completely underestimated Bitcoin short-term. $400 until the end of the next year with the upcoming halving, etc, it's a joke.

I posted an article more about prediction that there is a 0.02% chance that 1 bitcoin can reach $1 million one day, which is a topic of the thread by the way.
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October 11, 2015, 01:09:31 PM
Last edit: October 11, 2015, 01:57:59 PM by fish731
 #18

If it stayed alive long enough and the dollar still existed then it's borderline inevitable that there'll be a million dollar coin one day. At today's buying power? It would've had to have conquered the world.

In a thousand years there might be a one million dollar note if inflation keeps going up. At that point I'd guarantee there will be at the least a one million dollar bitcoin, if bitcoin still exists by then. In a thousand years all bitcoins will have been mined, and only the network fees will support the miners, so the miners won't be able to dump the price down. Think about prices of everyday goods from 30 or 40 years ago, and what you pay for those same goods now. In a thousand years those goods will have astronomical prices by today's standards.

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October 11, 2015, 01:53:33 PM
 #19

a lot of people will dump long before the 1 million bitcoin

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October 11, 2015, 02:22:13 PM
 #20

Yes it could happen, if it becomes huge and used worldwide in trading and financial businesses. Even experts are acknowledging this scenario, but giving it just 0.02% chances of happening. Well even 0.02% is better than 0 chances! Smiley

http://www.coindesk.com/wedbush-report-projects-400-bitcoin-price-by-2016/

was just reading the article you posted and I have to say it's not that good if you ask me , I was hoping it will reach more then that by the halving block reward ... 400$ is literally nothing if we compare it to the other years (2013-2014)

Yes, I agree that they completely underestimated Bitcoin short-term. $400 until the end of the next year with the upcoming halving, etc, it's a joke.

I posted an article more about prediction that there is a 0.02% chance that 1 bitcoin can reach $1 million one day, which is a topic of the thread by the way.
A 0.02% chance is still something to hope for. Maybe if it happens, we'll all be able to rake in the benefits of coming into Bitcoin "early"

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