How 1BTC can eventually be worth $11M

[lolgato]

If this ever does happen which I doubt it would in my lifetime I would be a millionaire and bury myself with my physical bitcoins.

[bitcasino]

1BTC  $11M in the future yes it's possible!
But most of people sell their assets in their lifetime. 

[Drewski]

I really doubt that.  Fiat currencies are backed by a government guaranteeing its worth.  No government would be crazy enough to do that to bitcoin.

[AtheistAKASaneBrain]

We can hit 1 million realistically in the next 20 years, it's easier than we think but we are programmed to think such things are impossible, but do the math and you'll see that the amount of money needed is not that big compared to the trillions in fiat stocks and metal out there waiting to get in in in the Bitcoin system.

[shogdite]

You have tried your best to put the numbers together but they will not show their self in reality. Maybe 10k in our life time which lets me leave a fortune to the kids so I'm happy. But $11million a coin NO 

[wadii33]

i hope so maybe in 10 more years or more
if this happend no all themany of bitcoin  users now will be richer than bill gates

[coins101]

...
At least a possibility somewhere between 2040 and 2100? Well, even if it's just 1% of that, it's still $114 761 in today's value. That's enough to buy a fairly decent place to live in most countries.
....

Inflation impacts property prices more than many other commodities. If BTC is intended to be inflation neutral, but property prices increase by inflation, affordability doesn't change for the better unless BTC increases in value above inflation.

[zimmah]

I don't think such figures are impossible, look at the south sea bubble for example.      
The value of that company was insanely high at one point even though they didnnt even have a product.    
If bitcoin becomes more widely accepted the price might at one point raise to irrational highs just because of too many people buying and FOMO. And for a long time people would make profit and keep investing, they might even sell all their stocks and gold and such to buy more bitcoin because Bitcoin is rising in value so rapidly.      
Eventually there's more money invested in Bitcoin than even exists in the world and at or beyond that point people start to realize that such a price is not sustainable, so the smart people will start to buy some overly cheap gold and stocks and assets like houses and such. Bitcoin will plummet. It will still be worth a lot comoared to today's values, possibly even over a million per Bitcoin but it will drop a lot compared to the ridicilous value it had before.      
It's possible.

[Blue_Panda73]

I really doubt that.  Fiat currencies are backed by a government guaranteeing its worth.  No government would be crazy enough to do that to bitcoin.

But in reality, the governments tries to devalue the fiat currencies whenever they can. That will reduce the debt they owe.

[helloeverybody]

Very optimistic but i find it unlikely that bitcoin will still be around by then. certainly not as we know it now anyway.

[Denker]

I really doubt that.  Fiat currencies are backed by a government guaranteeing its worth.  No government would be crazy enough to do that to bitcoin.

But in reality, the governments tries to devalue the fiat currencies whenever they can. That will reduce the debt they owe.

Yeah but all what they are doing is getting a bit more time to delay the collapse.
This whole system is based on debts and trying inflate the way out of that will not work.
Everyone with a bit of financial understanding knows that.

[mtnsaa]

I am sure as the technology continue to evolve, new standard may replace bitcoin in future. Bitcoin may worth more than what it is now, but $11M (even $100k) is very difficult.

Bitcoin may very well take off and be valued at 10-100k, hell, right now if it goes to $500 one can say that it's a huge figure already for something that many think it's a joke. However the same chance exists that it will be worthless because it can also become obsolete in the upcoming years.

[Wapinter]

11 million USD , not in our lifetime

I'd be happy AF if we reach 10,000 USD per bitcoin, let's not get too greedy

The problem is if it reaches 1000 $,many bitcoin users will start selling it to make short term gain which will again bring down the price.

[btcprospecter]

Would be nice to see that in our lifetime. Might be a idea tho to make sure our bitcoin is added to our estate when we go out to pasture

[LinaMay]

I don't think that's possible at all.

[Minecache]

Completely and utterly impossible.

[hexitor]

But you're assuming that every single person on earth will use Bitcoin as their only currency... Which i think isnt possible yet.

[owm123]

This was already speculated in Jan 2009

As an amusing thought experiment, imagine that Bitcoin is successful and
becomes the dominant payment system in use throughout the world.  Then the
total value of the currency should be equal to the total value of all
the wealth in the world. Current estimates of total worldwide household
wealth that I have found range from $100 trillion to $300 trillion. With
20 million coins, that gives each coin a value of about $10 million.

http://www.mail-archive.com/cryptography%40metzdowd.com/msg10152.html

So your calculations agree with those. One can only dream.

[odolvlobo]

This was already speculated in Jan 2009

...imagine that Bitcoin is successful and
becomes the dominant payment system in use throughout the world.  Then the
total value of the currency should be equal to the total value of all
the wealth in the world. ...

http://www.mail-archive.com/cryptography%40metzdowd.com/msg10152.html
So your calculations agree with those. One can only dream.

The part in bold is just not true. A dollar does not currently exist for every dollar's worth of wealth in the world, so why would it apply to bitcoin? There is no reason why a bitcoin would ever be worth $11 million unless the dollar collapses.

[jethrorn99]

+1 for optimism
I will still be happy if bitcoin is rising even by a dollar or such