The $1 Million Dollar Bitcoin

[StevenLiang]

Ok, let's going to troll..

What is in your mind when 1 BTC = $1M?

That's never happen btw.

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[Amph]

Ok, let's going to troll..

What is in your mind when 1 BTC = $1M?

That's never happen btw.

i swear in 2010 they were saying the same thing about bitcoin never reaching 1k per coin

but we know how it ended...

[gentlemand]

i swear in 2010 they were saying the same thing about bitcoin never reaching 1k per coin

but we know how it ended...

But that only required a few hundred thousand people to get sufficiently excited. 1 mil would require several hundred million or more. Zero to a handful of billions can happen repeatedly. Zero to trillions is a once in multiple generations type of thing. I won't be moaning if it occurs but I'm not holding my breath.

[leex1528]

I highly doubt Bitcoin will ever, ever reach 1 million dollars.  I hope that happens, I just don't see it happening.  That would basically mean the Govt has lost control of any fiat they have and BTC would be the world currency.  It is highly unlikely all governments in the world would be okay with not being in control of their own currency.

[DaddyMonsi]

I don't think this will happen and I don't see a reason why it would reach to that level. If demand is high but availability is low (very low or maybe scarce) trading price may increase but not to that level

[gentlemand]

I don't think this will happen and I don't see a reason why it would reach to that level. If demand is high but availability is low (very low or maybe scarce) trading price may increase but not to that level

Yes, there's always that market cap thing out there waiting to distort things. I think it's a truly dismal metric. A few mindless idiots who bought dust on Ebay have probably already raised the market cap to trillions if their transactions had been recorded.

[coinplus]

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?

Highly possible. Market cap is nothing to do with a price of one commodity, other than just as a comparison tool across commodities.
Forget government approval or collapse of a major country or currency or a giant business accepts bitcoin.
Imagine some $3 billion fresh investment comes into bitcoin, first people sell on higher prices but later even miners also will hold their bitcoin for higher prices. Then people will ready to buy only one satoshi for $100 also. A long term new investment is alone needed to break any market cap.

[NorrisK]

1 mil is over the top for the moment. Lets first focus on retaking 1k and finding 2k+ values.

A huge market cap is very well possible, depending on how the market evolves.

[bitgolden]

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?

Highly possible. Market cap is nothing to do with a price of one commodity, other than just as a comparison tool across commodities.
Forget government approval or collapse of a major country or currency or a giant business accepts bitcoin.
Imagine some $3 billion fresh investment comes into bitcoin, first people sell on higher prices but later even miners also will hold their bitcoin for higher prices. Then people will ready to buy only one satoshi for $100 also. A long term new investment is alone needed to break any market cap.

But traders consider market cap as their target zone. When a commodity nears a relevant market cap most of the traders will start selling their holdings. This is may be the reason some commodity struck within it's market cap-supply based price itself.
But I need to agree, a long term investment will break any market-cap.

[pedrog]

It's all about the userbase, if bitcoin one day achieves as many users as facebook, one bitcoin might worth 1 million dollars.

[neonshium]

It's a new dimension if we ignore the market cap of bitcoin as a constraint for a higher bitcoin price. People usually compare bitcoin market cap with dollar market cap. But no one would be ready to accept if 3billion was predicted some 3 years back. So, $1 million will happen whereas $21trillion is just a number.

[Hugroll]

the number seems a bit high to us right now but imagine this did anyone expect bitcoin to hit $1000 back in 2009?
even if the number is kinda unreasonable it might still be possible if EVERYONE in the world gets to know about it, like pedrog said its all about the userbase.

[Amph]

i swear in 2010 they were saying the same thing about bitcoin never reaching 1k per coin

but we know how it ended...

But that only required a few hundred thousand people to get sufficiently excited. 1 mil would require several hundred million or more. Zero to a handful of billions can happen repeatedly. Zero to trillions is a once in multiple generations type of thing. I won't be moaning if it occurs but I'm not holding my breath.

yeah it's not comparable, but it's all about adoption, if it is triggered in the right way, it can escalate quickly enough, to surprise everybody, not impossible for sure, just very unlikely

[jaysabi]

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?

Nah, never going to happen. There was just another thread I was reading where someone was saying bitcoin should be worth a billion dollars because it's innovative and better than fiat, which would give it a valuation 1200 times larger than the US M2 number (14,700 trillion dollars!). People need to live in reality. The "to the moon" sentiment is destructive. What if Bitcoin went "to the moon" when it hit $1100 in 2013, and now low to mid 200's is the reality? I'm quite skeptical that bitcoin will ever reach $1,000 again, let alone the lofty (i.e. "insane") numbers that are routinely thrown around on this board.

[trollercoaster]

C'mon guys, get your hands off your dicks, BTC is never going to be worth $1 000 000.00

[chennan]

Well that really depends on what is going on in the economy/world politics at that point I think... Lets say that people really started to not have any more trust in the USD or other fiat money and started investing it all in bitcoin.  There would come a point in time that fiat would have no purpose and be completely wiped out for that much money to be invested into bitcoin/cryptocurrencies.  Money would then be referenced in terms of "How much USD could I get out of 1 bitcoin" it would be "How much bitcoin can I get out of 1 USD" ... if that makes any sense.

If bitcoin were to be widely used and accepted to all major businesses around the world, then country oriented currencies would have no say in the discussion of economic policies.

[johnyj]

In my signature there is a detailed analysis

Even all the existing person have already fully invested in bitcoin, there are still 370,000 babies born every day. Suppose that each day same amount of person start to invest in bitcoin after they get their first job, then they are competing for those 5000 coins supply per day, they would averagely get 0.0135 coin per person per life time

Suppose that each person need $1,350,000 for a comfortable retirement, and they put all those savings into bitcoin and get 0.0135 coin, e.g. 1,350,000 satoshi, this means 1 Satoshi = 1 USD,  1 BTC will worth 100 million dollars, this might be the highest possible value bitcoin can achieve

[Anmol_Verma]

No,Nothing can make bitcoin reach 1 million dollars or even half a million dollars ever.
All will be rich and no one will be at loss at that situation and that can't happen.

[moseywill]

When new money flows into bitcoin, it may reach any new level at that time people may talk about 100 trillion market cap.....

[chennan]

It's all about the userbase, if bitcoin one day achieves as many users as facebook, one bitcoin might worth 1 million dollars.

Idk if Facebook is the right apology your going for... Maybe in terms of quantity of users, but I don't think we'll ever see as much of a diverse crowd of people using Bitcoin like on Facebook...

I litterally just got done looking at pictures of my father in law blowing out candles for his 90th birthday wearing a t-shirt with a cat and some witty line below it... Maybe the diverse age group will come about when we all become a lot older, and our kids and grand kids will be using cryptos... But u don't see the baby boomer generation ever being part of this at all