The $1 Million Dollar Bitcoin

[randy8777]

I do not know, I guess that will not happen any time soon, even for a price approaching $ 10,000 only occurs only 1x in 6 years 

lol, what's the logic behind what you say? we might never see $10,000 at all. when all things go well for bitcoin and the adoption rate increases significantly, then we have a good chance of seeing the price reach $2000-$3000 at some point in the future. but at this point it's kinda a waste of time to focus on anything above $1000 as we are far away from that price level.

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[Blind Legs Parker]

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

Anyone who dumps after reaching any price is someone who doesn't understand bitcoin. Simple as that. Usually these people (1) don't own many bitcoins and (2) they don't dump all together at the same time. Thus they're not going to have too much of an impact on the price. But yeah, when we reach 1000, 2000, 10000, and such numbers, people will sell a little and leave. But they're only people who weren't needed in the first place. Just passers by.

The only time people should be allowed to dump is when they're positive we've reached the turning point of a bubble and the price is starting to go down (and ideally they shouldn't properly dump but only sell a percentage of what they own). But it's not called dumping then. It's called trading. Because they'll likely buy back when they deem the price low enough.

[aardvark15]

I think it would be hard not to sell a bitcoin if it reaches $1 million.  If I just hold it then I can never see the benefit of being rich.

[EdenHazard]

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 to be worth $1,000,000 is quit impossible,since bitcoin founded,it never reach that price,and until bitcoin become unused maybe never reach that price,so far the highest price just about $700 and its really good for next time to going back to 2013.

[Barnabe]

Maybe it will be possible in a few years if the United States keeps increasing their M1 like they have been doing these last few years 

[jokerrj]

Maybe it will be possible in a few years if the United States keeps increasing their M1 like they have been doing these last few years 

That is simply impossible, bitcoin can never go that high, you need to believe and accept the reality, at a moment it might reach $1k but not beyond that.

[Barnabe]

Maybe it will be possible in a few years if the United States keeps increasing their M1 like they have been doing these last few years 

That is simply impossible, bitcoin can never go that high, you need to believe and accept the reality, at a moment it might reach $1k but not beyond that.

I'm not say that bitcoin will go this high, I was saying that if the US dollar devaluates a lot (hyper-inflation weimar republic style  ) bitcoin would be able to be worth lots (millions ?) of dollars.

[kartaggen]

Maybe it will be possible in a few years if the United States keeps increasing their M1 like they have been doing these last few years 

That is simply impossible, bitcoin can never go that high, you need to believe and accept the reality, at a moment it might reach $1k but not beyond that.

I'm not say that bitcoin will go this high, I was saying that if the US dollar devaluates a lot (hyper-inflation weimar republic style  ) bitcoin would be able to be worth lots (millions ?) of dollars.

But its really difficult to predict that it can go that high in future, but anything is possible when it comes to bitcoin price, so lets hope the value of bitcoin would in worth of millions.

[kacak41]

Maybe it will be possible in a few years if the United States keeps increasing their M1 like they have been doing these last few years 

That is simply impossible, bitcoin can never go that high, you need to believe and accept the reality, at a moment it might reach $1k but not beyond that.

I'm not say that bitcoin will go this high, I was saying that if the US dollar devaluates a lot (hyper-inflation weimar republic style  ) bitcoin would be able to be worth lots (millions ?) of dollars.

But its really difficult to predict that it can go that high in future, but anything is possible when it comes to bitcoin price, so lets hope the value of bitcoin would in worth of millions.

I don't think that's ever possible in future, we are expecting too much from bitcoins, I think maximum it can reach is upto $10k not more then that.

[electronicash]

Bitcoin better do reach 1 million real quick now for i needs just about 20K USD to pay the rest of my loans. will later have to pay my rent for a year but may not need to if btc will be 1 million in a year.

[bryant.coleman]

Forget about the $1 million mark, I don't think that Bitcoin will ever reach the $10,000 per coin mark. The adoption is slowing down, and if the indications are true, the number of users is also declining. The data from the major exchanges indicate that the trade volume is down when compared to that in the previous years. The future is not that bright.

[Footy]

Is $1 million the latest figure the Winklevoss twins are suggesting lol?

[gentlemand]

The future is not that bright.

I think it's in flux right now and could go either way. Its flaws are becoming ever more glaring and the much touted services and businesses that sprang up haven't really delivered. What it needs is a while to see if the things holding it back can be addressed successfully. Even then hype or extreme doom can kick off at any moment.

[BitFlyer.jp]

If this happened , bitcoin will drop 100000% in the next day.
You know why? 99.99999% people will sell all bitcoin that they have , so it looks impossible for me.

[followmenot]

I would even prefer to 1 bitcoin = $40.000-50.000 price in near future. I could at least buy small apartment house in my hometown to live.
I think it will never see $1.000.000 price but 10.000s or really exceptable in long term.

[helloeverybody]

If this happened , bitcoin will drop 100000% in the next day.
You know why? 99.99999% people will sell all bitcoin that they have , so it looks impossible for me.

This would only be the case if bitcoin exploded to 1million over night or in a few short weeks. If the price went up slowly over years then people would have sold out at far lower prices than 1 million so its totally possible that a 1 million bitcoin could be achieved. Just extremely unlikely .

[Denker]

If this happened , bitcoin will drop 100000% in the next day.
You know why? 99.99999% people will sell all bitcoin that they have , so it looks impossible for me.

Don't think so.
Reason is that fiat either has become worthless, so $1million is similar to $1000 or $10000 of today, or people will strongly hold their coins as they would have had chances to make profits in fiat way before that.
So again: Option 1 is that fiat will become worthless due to crazy inflation or option 2 is Bitcoin will become that popular that people will give a shit about fiat and that's the reason why fiat will become worthless!

[arbitrage]

Forget about the $1 million mark, I don't think that Bitcoin will ever reach the $10,000 per coin mark. The adoption is slowing down, and if the indications are true, the number of users is also declining. The data from the major exchanges indicate that the trade volume is down when compared to that in the previous years. The future is not that bright.

Those numbers sometimes don't have real connection with world, especially predictions over 10k .
First you must know more about economics behind. How much fresh money is needed for price to be doubled..
http://coinmarketcap.com/currencies/bitcoin/

Then you must ask yourself can anyone predict future?
Only you can hold and watch (We can belive inBTC) what will happen next.

[Barnabe]

Forget about the $1 million mark, I don't think that Bitcoin will ever reach the $10,000 per coin mark. The adoption is slowing down, and if the indications are true, the number of users is also declining. The data from the major exchanges indicate that the trade volume is down when compared to that in the previous years. The future is not that bright.

Users increase is like waves, it's cyclic.
Since there is no immediate advantage using bitcoins people don't need them, so they don't use them.
When/If banks and economy becomes more unstable (or price begins to spike=> speculation) bitcoin usage will increase again.

[ifinta]

I think 1BTC = $1000000 (= 10 ounce gold for example)  is possible in the future.
We speaking about dollar, a currency controlled (and issued) by the US...
Think an hyperinflation.