The $1 Million Dollar Bitcoin

[South Park]

The price is not important is what you can buy with it that matters, it does not matter that 1BTC is worth 1 Million dollars if the only thing you can buy with it is a soda, we must look at what we can buy with bitcoin and not only the price.

[Xester]

Remember that the most people at bitcoin are normal people with normal jobs, they cant support bitcoin above big ammounts, only whales and miners would be able to push the price soo high, but why would they do such if no one will be able to buy anymore bitcoin. I do believe bitcoin can reach 2000 dollars at 2030 or before, but this due to the halving and some projects like megaupload be live and became a huge sucess, augur and zec projects live as well, this should make the numbers of bitcoiners to explode and raise maybe 20-40% population.

The price will get pumped this high not necessarily by just a couple of whales. I believe that the price would hit this range if the "normal people with normal jobs" starts buying bitcoins instead. They might not support bitcoin to become that big individually, but if they do it altogether, they might achieve it.

It's not needed that people buy 1 bitcoin or two. They can always buy in small pieces like milliBit or microBit so even the price is high, it's okay.

I don't think at 2030, the price would just be $2000. We're already around $900-$1100. It wouldn't take that long to get to $2000 range.

We need a huge number of the worlds population to join and engage in bitcoin in order for us to reach that price. Even if every single individual buys 0.01 btc each and we have a 100 million number of users in one day then in the market around 1 million bitcoins will be sold. If 1 million bitcoins will be sold in the exchangers in just one day then imagine what will be the price of bitcoin it is sure that there is a skyrocket price in the bitcoins price.

[talikila]

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 think it can not. I only dream 100,000$ for bitcoin but it's too difficult to happen in this digital world for next 10 ten years.

[Hydrogen]

If the dollar was subject to hyperinflation where $1 million dollars were worth what $1,000 is worth now.

That could be the most likely scenario for 1 btc being worth $1 million.

Germans needing a wheelbarrow of paper money to buy a loaf of bread during their era of hyperinflation in the 1920's comes to mind.

How probable or improbable it is that something similar could happen in the united states is anyone's guess.

[deisik]

If the dollar was subject to hyperinflation where $1 million dollars were worth what $1,000 is worth now.

That could be the most likely scenario for 1 btc being worth $1 million.

Germans needing a wheelbarrow of paper money to buy a loaf of bread during their era of hyperinflation in the 1920's comes to mind

Although how probable or improbable it is that something similar could happen to the united states is anyone's guess

The hyperinflation in the Weimar Republic was mainly due to the defeat of the German empire in the WWI. Germany had to pay out massive reparations according to the Versailles peace treaty (in gold and raw materials), and these reparations (which Germany couldn't and didn't pay in full) took a heavy toll on its economy. I don't really think we can compare the present situation in the US with those days. The economy of the US is still one of the most powerful in the world, so there are no grounds for such expectations (of massive dollar devaluation)...

But there is always a non-zero chance of civil unrest spreading all over the country

[Etaurith]

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?

There is always a possibility that the will come that it is going to be worth 1 million dollar.
But I personally don't think that it will happen soon.

[nemagia]

This is a very fantastic assumption that the cot of bitcoin has reached as much as $ 1,000,000. I do not even half a million minds. To do this, it takes a lot of time and that other currencies also increased in price.

[jk_14]

I would not harbor the hopes of seeing the price of bitcoin at those levels. These last days of high volatility have revealed how easily manipulable and insecure would be to use bitcoin as a store of value.  Moreover, I dare say that bitcoin is still an unfinished experiment, a revolutionary beginning of what tomorrow's economy will be.

That is only the case due to the currently low volume of the market. If the financial systems of the world were to actually run through Bitcoin, volatility would massively decrease.
More pressing issues are the long transaction times and the atrocious transaction fees that would follow such a wide adoption, but these would definitely be addressed on the way.

Thus the only real threat would be a crypto-currency that is vastly better than BTC that also becomes adopted at a much faster rate before BTC can solve all scaling issues.

[aoihs00]

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?

With your stats above it seems to be impossible to happe in any given time. Just look at the figure, if a million goes into with per BTC then that will shook the financial system of whole world. Because the money would be captured in the bitcoin form on virtual machine and it won't be circulating in the nationwide system. This means though we have money but we will be in need to add more due to shortage of handy money. That's crisis Lind of situation.

[CryptoGeneral]

It is not impossible to reach 1 Million USD, but it is unlikely to happen soon. As previous users pointed out it is more important to have a growing acceptance of Bitcoin. I guess the market will follow then. How high? Moon! 

[justin86]

The price is not important is what you can buy with it that matters, it does not matter that 1BTC is worth 1 Million dollars if the only thing you can buy with it is a soda, we must look at what we can buy with bitcoin and not only the price.

Very good point but people talk about next 10-20 years so inflation does not matter so much, and the idea is about today's 1 million dollar.

[Cezka]

100k bitcoin in 2022

[AmiranAbdul]

Bitcoin can not reach such a mark. 10,000,000 is too high price for one coin. The bitcoin grows well, but you still need to adequately assess its capabilities and competing crypto-currencies.

[Vishnu.Reang]

100k bitcoin in 2022

Yeah.. it is possible. Even at $100,000 per coin, the market cap of Bitcoin will be lower than that of other currencies such as the United States Dollar and the Euro. Also, we need to remember that a large fraction (may be up to 15%) of the BTC market cap is "lost", since no one is having the private keys for those coins.

[deisik]

I would not harbor the hopes of seeing the price of bitcoin at those levels. These last days of high volatility have revealed how easily manipulable and insecure would be to use bitcoin as a store of value.  Moreover, I dare say that bitcoin is still an unfinished experiment, a revolutionary beginning of what tomorrow's economy will be.

That is only the case due to the currently low volume of the market. If the financial systems of the world were to actually run through Bitcoin, volatility would massively decrease.
More pressing issues are the long transaction times and the atrocious transaction fees that would follow such a wide adoption, but these would definitely be addressed on the way.

Thus the only real threat would be a crypto-currency that is vastly better than BTC that also becomes adopted at a much faster rate before BTC can solve all scaling issues

That is not because of low volume

If Bitcoin remains exclusively a speculative asset, no volume will be enough to stabilize its price. The logic behind this conclusion is quite simple though. No matter how high the price climbs, Bitcoin as a speculative asset will remain small in respect to real economy as well as other financial markets which are backed up by this economy (so to speak). The bottom line is that unless Bitcoin is accepted by the world as a real currency (like the US dollar or Euro), nothing is going to change in this department (i.e. in respect to volatility)

[Cherylstar86]

100k bitcoin in 2022

Yeah.. it is possible. Even at $100,000 per coin, the market cap of Bitcoin will be lower than that of other currencies such as the United States Dollar and the Euro. Also, we need to remember that a large fraction (may be up to 15%) of the BTC market cap is "lost", since no one is having the private keys for those coins.

Well if I have to discuss here about that number maybe I should bring a lot of articles from searched sites.That possibilities you are talking about is still an inpiration for everybody who took part of this economic growth of digital assets. So if we have to take a serious analysis,  we could not define to an exact phase that each coin will reach that far of price demand in the market, well I could not really believe that it's an affordable price if in case that will happen in the future of digital currency bitcoin.

[Cezka]

Yea well it can be either 100k in 2022 or back to 1$ everything is possible.

[gabmen]

Yea well it can be either 100k in 2022 or back to 1$ everything is possible.

I dont think it would be worthless 5 years from now for btc to drop to 1$. Though anything is possible, that's unlikely to happen especially that btc would more likely than not, be shooting up even more as per most indicators. But 100k is also a bit too unrealistic.

[0Pirats0]

As if users did not believe in bitcoin, but he can not reach one million for a coin. This is too high a price to which you need to go a few thousand years, constantly raising prices for everything else.

[LilibethSantos]

I'm going to be optimistic and say 100k BTC by 2020 and 1 million by 2030. But honestly, Who knows what sort of disasters that Bitcion or the internet may face by then.