1 Bitcoin = $1,000,000

[ijphlrnxewho]

1 Bitcoin = $1,000,000 USD
21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

[1715655671]

1715655671

[1715655671]

1715655671

[romjpn]

That would be nice right ? But not happening soon .

[ijphlrnxewho]

Each person own 1 Bitcoin and hold on to it for 20+ years.

Bitcoin is the best investment of all time. Owning Bitcoin is better than owning a house.

[tyoA7X]

I hope bitcoin up to $1000.000 lol
But its possibility

[XXX-DR]

Your looking long into the future, lol! But it can realistically happen though.

[fuathan]

1 Bitcoin = $1,000,000 USD
21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

When will it happen?.. 

[tenaciouzd]

Each person own 1 Bitcoin and hold on to it for 20+ years.

Bitcoin is the best investment of all time. Owning Bitcoin is better than owning a house.

I don't saying it won't happen in future but i don't think it will happen in 20 years. And if some hold bitcoin by selling their house.Their is risk bitcoin value can decrease to zero.But if i won a house it don't have any chance to zero.

Bitcoin will make you rich or make you bust in 50 years.

[aardvark15]

I hope this happens in my lifetime, but we shouldn't get our hopes up.  I think we could see a bitcoin worth $1000 or more within a few years.

[Pro Gamers]

20 years im gonna be a food for worms for sure during the year

[nagatraju]

1 Bitcoin = $1,000,000 USD
21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

Is it possible, even after mining complete BTC (21 Million Bitcoins)?

[hasiramasenju]

1 Bitcoin = $1,000,000 USD
21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

When will it happen?.. 

he says after 20+ years and if you want to be a millionaire you must hold your bitcoin until that years but i personally very doubt bitcoin will reach to that price

[DimensionZ]

Mate I would very much like that but this is just wishful thinking. I would even be happy with Bitcoin valued at $10 000 in 20 years. However I would prefer to have a house at this very moment rather than hold speculative store of value and hope for its price to rise to the Moon.

[ShowOff]

Each person own 1 Bitcoin and hold on to it for 20+ years.

Bitcoin is the best investment of all time. Owning Bitcoin is better than owning a house.

I don't saying it won't happen in future but i don't think it will happen in 20 years. And if some hold bitcoin by selling their house.Their is risk bitcoin value can decrease to zero.But if i won a house it don't have any chance to zero.

Bitcoin will make you rich or make you bust in 50 years.

no one know what will happen in future, bitcoin will be rising or not . but almost every investment must have risk. just make sure you invest money that you afford to lose.

[nichu]

1 Bitcoin = $1,000,000 USD
21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

When will it happen?.. 

the saddest part is, those kind of prices will only be in our wildest of dreams  if that is the case i would be a bitcoin billionaire and most likely we would see some trillionaire's surpassing bill gates total wealth 

[avikz]

1 Bitcoin = $1,000,000 USD
21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

Great to dream on! But this is not going happen soon..With more and more countries making it illegal and taxing on the transaction, is actually making it more mainstream, which bitcoin is not supposed to be.

However, the more people will be interested in bitcoin, the more investment will flow in to the system and make it a more powerful currency. Hope for the best.

[ObscureBean]

Mate I would very much like that but this is just wishful thinking. I would even be happy with Bitcoin valued at $10 000 in 20 years. However I would prefer to have a house at this very moment rather than hold speculative store of value and hope for its price to rise to the Moon.

My sentiments exactly. This is not even something I would think twice about, I'd take the house over Bitcoin any day.

Each person own 1 Bitcoin and hold on to it for 20+ years.

This one is a good suggestion, if you can buy a couple of Bitcoins without it causing a dent in your budget, you probably should give it a shot. Just get 1 or 2 Bitcoins, store them safely offline and forget about them, it'll be interesting to see how much they're worth in 20 years time.

[Kakmakr]

At the rate that fiat currencies are losing their value, we might see a Zimbabwe scenario playing out soon, and a $ 1 000 000 per Bitcoin would be nothing strange. Let's say this does not happen and the fiat currencies keep their value, how many people will be willing to pay that amount of money or better yet, who would not have sold when the price reached $10 000 or $100 000 per Bitcoin. In the end, most Bitcoins will end up in the pockets of the super rich as a collectors item and a token to present their wealth. ^sad^

[NorrisK]

1,000,000 in 20 years is not that special if you factor in an inflation combined with natural growth.

Look at what house prices did in the last 50 years.. went from tens of thousand to hundreds of thousands. More people on the planet, less new houses being build than needed --> boom. Same will likely happen if people will want to hold more bitcoin than currently or more users want to hold it.

[Genius Einstein]

I hope that that would be the price of bitcoin today but unfortunately i do not think that that price can even be suggested. Unless the price of bitcoin becomes inflated and all currencies became inflated we can not even dream of such a thing happening.

[Arcteryx]

At the rate that fiat currencies are losing their value, we might see a Zimbabwe scenario playing out soon, and a $ 1 000 000 per Bitcoin would be nothing strange. Let's say this does not happen and the fiat currencies keep their value, how many people will be willing to pay that amount of money or better yet, who would not have sold when the price reached $10 000 or $100 000 per Bitcoin. In the end, most Bitcoins will end up in the pockets of the super rich as a collectors item and a token to present their wealth. ^sad^

Welll putting it in that scenario, then it does make it plausible.
A country's economy can change for the worst in what is no time at all now a days. Just take Iceland for instance. Going bankrupt because it relied on fiat as it's currency is not a stable thing regardless of which country's government backs it. Having a crypto currency takes this ill nature away because it is free from regulation of any governing body or country for that fact.

[ivanst776]

this is just like a Dream. I wish it happen one day. but it will not happen so soon.. it almost take 20 to 30 years. 1 bitcoin equal to 1 million US Dollar is not play of child. developers have to lots of work, bitcoin must be used in whole world by every single person. then may be the price go up.

[pumawolf]

the fuked up part is ,when a bitcoin hits  1 million,  an sandwich  will cost 500 bucks

[BitcoinSupremo]

I will be happy if bitcoin reaches 100.000 USD in next 5-10 years, I don't think it will happen but in 2014 there were a lot of news that bitcoin can go to 10.000 or even 100.000 USD in next 5-10 years. So far it hasn't proved to be true unfortunately for us all.

[ctlaltdefeat]

Each person own 1 Bitcoin and hold on to it for 20+ years.

Bitcoin is the best investment of all time. Owning Bitcoin is better than owning a house.

do you think owning bitcoin is better than sleep on street?
i just wondering how you can really sure that bitcoin will succes and have $1000 price in more than 20 years?tell me something.

[onlinedragon]

Even when they are worth that amount still people need to be willing to pay for that. I can't believe they will worth that amount no one pay such high amount for one Bitcoin.

[1Referee]

I will be happy if bitcoin reaches 100.000 USD in next 5-10 years, I don't think it will happen but in 2014 there were a lot of news that bitcoin can go to 10.000 or even 100.000 USD in next 5-10 years. So far it hasn't proved to be true unfortunately for us all.

I am already happy if we can maintain a price higher than $1000 for plenty of years. That's what I am waiting for. Something unrealistic as $1,000,000 is not even considered by me.

[Herbert2020]

$1,000,000 is just a dream, a dream that is not going to come true. bitcoin is never going to be adopted by "everybody" so i think the maximum price that can be achieved is somewhere around 5000 USD per coin which need a lot of adoption and new investment for that to happen.

[M28MmickT]

It maybe wont happen soon, but im fine with 1 percent of that valuation by now

[hilariousandco]

Each person own 1 Bitcoin and hold on to it for 20+ years.

Bitcoin is the best investment of all time. Owning Bitcoin is better than owning a house.

But the opposite is also true. It could be the worst investment of all time and worth zero in twenty years. Nothing is guranteed and btc is just as risky as investing in a new tech start up or whatever. The potential for huge gains is certainly there but I wouldn't stake/bet your entire life savings on it.

[Amph]

gold marketcap is 7T you are telling me that we can do this 3x? very optimistic scenario, i don't want to say that it will never happen, hell even a collision will happen one day, if we have infinite time

but i doubt there is something that can match and surpass gold marketcap

[Amadues]

Each person own 1 Bitcoin and hold on to it for 20+ years.

Bitcoin is the best investment of all time. Owning Bitcoin is better than owning a house.

depends what house you buy and how many time you think could reach this value (more than 2000 times actual value!)
An increase so high it's more similar to a bubble...an exponential growth like this I think is impossible...
But I am hoping this obviously I hope this because with an amount of this size I can fix problem for whole family and friends

[Dr.Osh]

It maybe wont happen soon, but im fine with 1 percent of that valuation by now

1 bitcoin to $ 1 million I think it will not happen in the near future, as I thought, it would probably require a very long time so that bitcoin prices could reach 1 million

[poptok1]

I see that we have a lot of dreamers around.  
It is not a bad thing of course, but when the reality hits it may hurt a bit.
Such a huge value is simply impossible in the near future.
A close to a century of computing science gave us BTC and i think another 100 years
is needed for it to establish some real/meaning user base.
I wish to be mistaken, and wake up tomorrow a millionaire but the possibility
its purely theoretical.  

[Ardenyham]

If bitcoin ever becomes so much mainstream that number wouldn't be awkward the same way Zimbabwean Dollars are being used in it's country and it's in millions, Not exactly the same but you know what I'm getting at , Bitcoin is something that has potential to change the economical world as a whole.

[BTCLovingDude]

i have never liked these types of speculation, they look like wishes more than speculation based on facts. and i don't see any valid reason why bitcoin can grow that much here.

[OmegaStarScream]

It won't reach that amount if you ask me , even for long term .
But even if happens , 1 million dollar of now and then will definitely won't be the same , It will be like 10k $ of now or something , and I don't even think there is people who could be patient seeing bitcoin price rising for 20 years without selling them.

[randy8777]

i have never liked these types of speculation, they look like wishes more than speculation based on facts. and i don't see any valid reason why bitcoin can grow that much here.

i completely agree with you. i really don't know why people keep thinking about prices higher than $10,000 while we haven't even managed to break through $600 or even $1000 again. there is really no point in doing that. if at some point the price goes over $1000 again, then i can kinda understand that people start to fantasize about bitcoin reaching $2000 and higher. but so far we are faaaaar away from reaching the $1000 price level.

[tampazeus]

i have never liked these types of speculation, they look like wishes more than speculation based on facts. and i don't see any valid reason why bitcoin can grow that much here.

i completely agree with you. i really don't know why people keep thinking about prices higher than $10,000 while we haven't even managed to break through $600 or even $1000 again. there is really no point in doing that. if at some point the price goes over $1000 again, then i can kinda understand that people start to fantasize about bitcoin reaching $2000 and higher. but so far we are faaaaar away from reaching the $1000 price level.

I don't think it can reach to $1k easily as we are waiting since long time to reach to $500 mark so even $1k seems bot be impossible for me.

[Flomess]

What is the point of this thread? What is the question?
Is it possible for 1BTC to be valued 1MIL $? Well, almost everything is possible in our universe...
Is it likely? Hell no! 21 T $ is a serious ammount of money, if they were to be distributed equally, every person on earth should hold about 3000$ in bitcoins... does it seem likely to you?

[maokoto]

I think that even if that happens, the figures are deceptive. If 1 Bitcoin ends un having a value of 1 million dollars, it would not be like 1 million dollar now. If BTC has that value, dollars will have a much lower value...

[randy8777]

i have never liked these types of speculation, they look like wishes more than speculation based on facts. and i don't see any valid reason why bitcoin can grow that much here.

i completely agree with you. i really don't know why people keep thinking about prices higher than $10,000 while we haven't even managed to break through $600 or even $1000 again. there is really no point in doing that. if at some point the price goes over $1000 again, then i can kinda understand that people start to fantasize about bitcoin reaching $2000 and higher. but so far we are faaaaar away from reaching the $1000 price level.

I don't think it can reach to $1k easily as we are waiting since long time to reach to $500 mark so even $1k seems bot be impossible for me.

i also don't think we'll see the price touch the $1000 price level any time soon. that's why i said 'if at some point the price goes over $1000 again'.

[Arcteryx]

i have never liked these types of speculation, they look like wishes more than speculation based on facts. and i don't see any valid reason why bitcoin can grow that much here.

It is hard to believe it ever will reach that amount per coin. It sounds more like a reach for the stars type conversation. But we all have dreams and goals 
Just don't be the one who has to buy at that time.

[BellaBitBit]

Entirely possible but what is 1,000,000 going to be worth in 20 years with the rate of inflation?  Bitcoin should be 10,000,000 in 20 years to keep up.

[7788bitcoin]

Entirely possible but what is 1,000,000 going to be worth in 20 years with the rate of inflation?  Bitcoin should be 10,000,000 in 20 years to keep up.

I guess the OP meant $1,000,000 today's value.

I totally agree that when the value of bitcoin increases, most likely the value of dollars will be moving in the opposite direction as people are switching to digital currency.

Maybe we should measure value by using other more meaningful units, such as a loaf of 500g bread?

[pereira4]

Each person own 1 Bitcoin and hold on to it for 20+ years.

Bitcoin is the best investment of all time. Owning Bitcoin is better than owning a house.

Indeed, anyone not owning at least 1 BTC by 2016 is doing extremely wrong, specially if this person has been on this forum for a while.
And about 21 trillion dollars for 1 million per coin, I don't think marketcaps are calculated that way. It would actually take less trillions to reach 1 million per coin.

It's perfectly possible to reach 1 million per coin over the next decade or two. Gold has trillions invested, and only some of this migrating into Bitcoin will make the price explode, since the marketcap of today is super tiny.

[RodeoX]

Are you buying? I have never sold a bitcoin, but if that's your price then I would part with one of them.

[thejaytiesto]

this is just like a Dream. I wish it happen one day. but it will not happen so soon.. it almost take 20 to 30 years. 1 bitcoin equal to 1 million US Dollar is not play of child. developers have to lots of work, bitcoin must be used in whole world by every single person. then may be the price go up.

Wrong, gold is not used anywhere and it has trillions for marketcap.
We just need some gold users, some assets, some equities, real state, and random holders, then we can go to the moon without necessarly becoming the #1 used currency on the planet. Theres trillions and trillions in debt, if that money went to BTC we can hit 1,000,000 tomorrow.

[KennyR]

Are you buying? I have never sold a uᴉoɔʇᴉq, but if that's your price then I would part with one of them.

Its a good decision to sell if it reaches $1000000 or to the person who has the willing to buy at the quoted price.

[Lokfar]

It is not possible mate, you can now even see around this time that Bitcoin is not even rising now so that is never possible that it will have that high value later.
That you are positive is very good, but you must be also realistic and that value is not realistic.

[Hashminers]

This is just so unrealistic in my eyes, this will never be possible, this is just like a 1april fool because the fact is that the bitcoin do not even proven itself at the moment.
1 million is just not reachable, the 10k is even never reached by far so that is even the question if it ever will reach the 10k and at least the 5k...

[Mr. Big]

$1,000,000 per bitcoin is so impossible...I don't know why have that kind of idea..If it reaches that price, probably we are all not gonna see that, maybe the generation after our children could.. 

[r0ach]

Once the QE money gets into the economy, $1 million will equal $100,000.  Then 20 more years will be good for another 10x or more increase in money supply, so by then, $1 millioin will equal $10,000 of today's cash.  Maybe original poster low-balled.

[arbitrage]

I don't know why people expecting such numbers? This is impossible.
Also this is very wrong picture presented,  and as such can make people lose their money. And everybody here are responsible. For this price somebody must give $1,000,000 for bitcoin. Who will be that guy?

[1Referee]

Once the QE money gets into the economy, $1 million will equal $100,000.  Then 20 more years will be good for another 10x or more increase in money supply, so by then, $1 millioin will equal $10,000 of today's cash.  Maybe original poster low-balled.

Have you been sleeping well lately?

Indeed, fiat currencies will only lose value as we burn through the years, but not as dramatically as you claim. But then again, that will reflect in Bitcoin gaining even more value compared to the USD. Especially when Bitcoin gets its own value.

[arbitrage]

Indeed, fiat currencies will only lose value as we burn through the years, but not as dramatically as you claim. But then again, that will reflect in Bitcoin gaining even more value compared to the USD. Especially when Bitcoin gets its own value.

Please explain what is current value of bitcoin and how we can measure it in the future? I'm not convinced bitcoin can do such miracles as you are saying..If dollar goes down electricity will go up and miners will be in danger, so will be and bitcoin.

[romjpn]

I don't know why people expecting such numbers? This is impossible.
Also this is very wrong picture presented,  and as such can make people lose their money. And everybody here are responsible. For this price somebody must give $1,000,000 for bitcoin. Who will be that guy?

Or 1k USD for 0.001 BTC. What if we deal mainly with satoshis in the future ?    
Just a bit provocative though. I estimate that 1 BTC = 10K USD present value in 5 to 10 years would be good though to support a nice growth and a good amount of FIAT flowing in.

[Fidemoga]

I don't know why people expecting such numbers? This is impossible.
Also this is very wrong picture presented,  and as such can make people lose their money. And everybody here are responsible. For this price somebody must give $1,000,000 for bitcoin. Who will be that guy?

Or 1k USD for 0.001 BTC. What if we deal mainly with satoshis in the future ?    
Just a bit provocative though. I estimate that 1 BTC = 10K USD present value in 5 to 10 years would be good though to support a nice growth and a good amount of FIAT flowing in.

I also think the bitcoin price will be $10k in 5 to 10 years. But it still depends on the number of transactions.

[Antesth]

I do not see this happen at all, its just unrealistic and not possible at all in my eyes.

[BrockHunter]

People hope that this is going to happen in the future that is way they never sell anything now. It is a gamble because you do not know what is going to happen with Bitcoin in the future.

[talkbitcoin]

People hope that this is going to happen in the future that is way they never sell anything now. It is a gamble because you do not know what is going to happen with Bitcoin in the future.

nah, it is an investment not a gamble there is a huge difference between these two.
it is not like gambling because you can study the market and do some analysis then make a decision based on your speculation then invest and it wouldn't be like waking up one morning seeing price is 0

[martinacar]

People hope that this is going to happen in the future that is way they never sell anything now. It is a gamble because you do not know what is going to happen with Bitcoin in the future.

Yep, the bitcoin is not the predict at all and it will never be very predictable to be honest.
I think 1 bitcoin for 1 million dollar is just unrealistic and not possible this has already mentioned multiple times but I think its just ridiculous that people are thinking this can be done.

[maudevang]

That is impossible mate as you can see now you see that the value of Bitcoin is not even rising so that is already bad for Bitcoin itself and people who are waiting for a price increase.
I only think that it can only reach about some $2000 and that is all, the halving will also be not that nice for Bitcoin.

[Piltover]

I do not see this happen, the price is so impossible and highly unrealistic, I think this price is just insane, whoever came up with this, believe in dreams.
Well I can surely can say that this dream is not gonna happen by far.

[asrilani]

I do not see this happen, the price is so impossible and highly unrealistic, I think this price is just insane, whoever came up with this, believe in dreams.
Well I can surely can say that this dream is not gonna happen by far.

In 20 years, it might not be possible. But in 30 years, it is very possible after people lose interest in fiat.

[CoinsRoyal]

That is impossible, it is nice that you are positive about Bitcoin but it wont reach that high value as you can see now you see that the value keeps stable now for a long time.
And it wont also dont even rise after the halving so that is already bad, but maybe it will jump later or something.

[OrangeII]

That is impossible, it is nice that you are positive about Bitcoin but it wont reach that high value as you can see now you see that the value keeps stable now for a long time.
And it wont also dont even rise after the halving so that is already bad, but maybe it will jump later or something.

Well, it is really impossible. When that happens I think bitcoin has become something really popular and really made for the rich only. The price is too expensive for society

[darkmagician]

all of us who is earning and collecting bitcoins , we will become millionares,i cant wait for that moment to come true.
while waiting for that i will collect  and collect bitcoin as long as i can.

[mark coins]

all of us who is earning and collecting bitcoins , we will become millionares,i cant wait for that moment to come true.
while waiting for that i will collect  and collect bitcoin as long as i can.

Dreams should be realistic mate, we all hope that it should reach to a maximum level but this value is simply impossible to achieve, dream of something that is realistic.

[KennyR]

I do not see this happen, the price is so impossible and highly unrealistic, I think this price is just insane, whoever came up with this, believe in dreams.
Well I can surely can say that this dream is not gonna happen by far.

In 20 years, it might not be possible. But in 30 years, it is very possible after people lose interest in fiat.

Not at all. Even after years if people get out of fiat, expecting price of a single coin to be $1000000 is something out of imagination.

[airezx20]

  1 btc for $1 million value thats impossible and i think it will not happen in the future... maybe 10k will be the best value for 1 bitcoins in the future and i think 15 years it will happen. not this follwoing year.. because its impossible..

[Mr. Big]

1 btc for $1 million value thats impossible and i think it will not happen in the future... maybe 10k will be the best value for 1 bitcoins in the future and i think 15 years it will happen. not this follwoing year.. because its impossible..

No, $1million is not possible and also the $10k is far from becoming true even after 15 years...as long as the price didn't step up to $1k, and go steady at that price for a long period, 10k will be impossible...

[ricardobs]

People hope that this is going to happen in the future that is way they never sell anything now. It is a gamble because you do not know what is going to happen with Bitcoin in the future.

Yep, the bitcoin is not the predict at all and it will never be very predictable to be honest.
I think 1 bitcoin for 1 million dollar is just unrealistic and not possible this has already mentioned multiple times but I think its just ridiculous that people are thinking this can be done.

Yes, it is unrealistic, the price is very hard to reach to millions of dollars it will require a hard struggle and the believe of all over the world a some years from now to reach to at least $5000, but reaching to $1000,000 is really very hard.

[naidray]

That is impossible mate as you can see now you see that the value of Bitcoin is not even rising so that is already bad for Bitcoin itself and people who are waiting for a price increase.
I only think that it can only reach about some $2000 and that is all, the halving will also be not that nice for Bitcoin.

Yes at least in this decade we will hardly see the price of one bitcoin at $2000 that will be a great price of bitcoin and I think the highest value of the next 20 years, while if we think about $1000,000 then I don’t think that this price will be reached.

[justdimin]

I do not see this happen, the price is so impossible and highly unrealistic, I think this price is just insane, whoever came up with this, believe in dreams.
Well I can surely can say that this dream is not gonna happen by far.

Yes, it is possible only in our dreams and is not possible in the real life, in real life we will see the price only at the four digits and beyond this I don’t think that the price will ever reach so easily but will require hard struggle and a long time.

[romero121]

I do not see this happen, the price is so impossible and highly unrealistic, I think this price is just insane, whoever came up with this, believe in dreams.
Well I can surely can say that this dream is not gonna happen by far.

Yes, it is possible only in our dreams and is not possible in the real life, in real life we will see the price only at the four digits and beyond this I don’t think that the price will ever reach so easily but will require hard struggle and a long time.

A four digit value is more than enough for a currency right now. In the future sure it will grow than our predictions, if huge adoption occurs. Beyond which the value becomes stable.

[InsideBjorn]

People hope that this is going to happen in the future that is way they never sell anything now. It is a gamble because you do not know what is going to happen with Bitcoin in the future.

Yep, the bitcoin is not the predict at all and it will never be very predictable to be honest.
I think 1 bitcoin for 1 million dollar is just unrealistic and not possible this has already mentioned multiple times but I think its just ridiculous that people are thinking this can be done.

The chance is really small that it can reach that value as you can see now you see also that the value is not even rising now so that is already bad now for Bitcoin itself.
And it will rise of course soon but it will start slowly so we have to wait a really long time until it will have a high value.

[richkellj]

That is impossible mate as you can see now you see that the value of Bitcoin is not even rising so that is already bad for Bitcoin itself and people who are waiting for a price increase.
I only think that it can only reach about some $2000 and that is all, the halving will also be not that nice for Bitcoin.

i also don't think we'll see the price touch the $1000000 price level any time soon. It will never reach that much

[Denker]

I do not see this happen, the price is so impossible and highly unrealistic, I think this price is just insane, whoever came up with this, believe in dreams.
Well I can surely can say that this dream is not gonna happen by far.

Yes, it is possible only in our dreams and is not possible in the real life, in real life we will see the price only at the four digits and beyond this I don’t think that the price will ever reach so easily but will require hard struggle and a long time.

A four digit value is more than enough for a currency right now. In the future sure it will grow than our predictions, if huge adoption occurs. Beyond which the value becomes stable.

Who said that Bitcoin is just a currency?
It's not!It's way more than that.It can be whatever you want it to be.Currency, store of value,investment, commodity, precious unit,payment system record keeping system, a protocol where many other servies and apps can be build on top of it etc.
If Bitcoin should reach 6 digits we will just use smaller units, simple is that.
Or is gold measured in ton or kg? No we use ounces, half an ounce or quarter of an ounce.

[randy8777]

I do not see this happen, the price is so impossible and highly unrealistic, I think this price is just insane, whoever came up with this, believe in dreams.
Well I can surely can say that this dream is not gonna happen by far.

Yes, it is possible only in our dreams and is not possible in the real life, in real life we will see the price only at the four digits and beyond this I don’t think that the price will ever reach so easily but will require hard struggle and a long time.

A four digit value is more than enough for a currency right now. In the future sure it will grow than our predictions, if huge adoption occurs. Beyond which the value becomes stable.

Who said that Bitcoin is just a currency?
It's not!It's way more than that.It can be whatever you want it to be.Currency, store of value,investment, commodity, precious unit,payment system record keeping system, a protocol where many other servies and apps can be build on top of it etc.
If Bitcoin should reach 6 digits we will just use smaller units, simple is that.
Or is gold measured in ton or kg? No we use ounces, half an ounce or quarter of an ounce.

bitcoin is very divers in the way it can be used, that's correct. basically, for every person bitcoin can be of great value when they are open to adopt it. the will must be there as we can't force them to use something like governments do. bitcoin is freedom and thus people are free to choose what they want to use. i am fairly sure that people will realize this at some point in the future.

[Fidemoga]

That is impossible mate as you can see now you see that the value of Bitcoin is not even rising so that is already bad for Bitcoin itself and people who are waiting for a price increase.
I only think that it can only reach about some $2000 and that is all, the halving will also be not that nice for Bitcoin.

i also don't think we'll see the price touch the $1000000 price level any time soon. It will never reach that much

We might see the $10,000 in 5 years, $100,000 in 20 years and the $1,000,000 in about 50 years.

[RobinHoodster]

Bitcoin will never reach that high value and if it even happens than there will be a lot of people that is getting rich and are going to use Bitcoin but we have to stay realistic and this is not realistic.
It is now not even rising now and that is already bad for the people who already are waiting for a price increase.

[1Referee]

Bitcoin will never reach that high value and if it even happens than there will be a lot of people that is getting rich and are going to use Bitcoin but we have to stay realistic and this is not realistic.
It is now not even rising now and that is already bad for the people who already are waiting for a price increase.

It's not even funny anymore seeing brainless people dreaming about $1,000,000 prices while we probably won't come even close to $1000 in the coming year(s). But I'm sure OP is just trolling.

[Qunenin]

Bitcoin will never reach that high value and if it even happens than there will be a lot of people that is getting rich and are going to use Bitcoin but we have to stay realistic and this is not realistic.
It is now not even rising now and that is already bad for the people who already are waiting for a price increase.

Very difficult to reach $1000,000

[mindrust]

One word: Impossible.

Bitcoin will never reach to 1000000. Maybe in 1000 years. People gonna dump everything they got when the price reaches to 1000$.

[co5hike]

One word: Impossible.

Bitcoin will never reach to 1000000. Maybe in 1000 years. People gonna dump everything they got when the price reaches to 1000$.

Exactly no one has that level of patience to hold their coins till it reaches to 1 million, as you said majority of  people will sell their coins when it will reach to certain level, and of course 1 million price is impossible to achieve.

[pereira4]

One word: Impossible.

Bitcoin will never reach to 1000000. Maybe in 1000 years. People gonna dump everything they got when the price reaches to 1000$.

Exactly no one has that level of patience to hold their coins till it reaches to 1 million, as you said majority of  people will sell their coins when it will reach to certain level, and of course 1 million price is impossible to achieve.

People was saying here that Bitcoin would never reach 1 dollar, during the early days. Imagine if the new it would reach 1000.

People brains aren't wired to think beyond what they consider possible, but it's very possible to reach 1 million per Bitcoin in the next decade or two. Fo instance, the M2 money supply of the US dollar, the world's reserve currency, is just shy of $12 trillion. For the euro, it's 9.86 trillion euros, or $10.76 trillion. The current marketcap for BTC is roughly 7 billion... do the math.

[Fidemoga]

One word: Impossible.

Bitcoin will never reach to 1000000. Maybe in 1000 years. People gonna dump everything they got when the price reaches to 1000$.

Exactly no one has that level of patience to hold their coins till it reaches to 1 million, as you said majority of  people will sell their coins when it will reach to certain level, and of course 1 million price is impossible to achieve.

People was saying here that Bitcoin would never reach 1 dollar, during the early days. Imagine if the new it would reach 1000.

People brains aren't wired to think beyond what they consider possible, but it's very possible to reach 1 million per Bitcoin in the next decade or two. Fo instance, the M2 money supply of the US dollar, the world's reserve currency, is just shy of $12 trillion. For the euro, it's 9.86 trillion euros, or $10.76 trillion. The current marketcap for BTC is roughly 7 billion... do the math.

The US state debt is about 19 trillion dollars, if that is represented in bitcoin, one bitcoin is more than $1 m.

[jaredboice]

One million dollars may or may not happen. There are too many factors to consider, not the least is the number of viable alternatives. However, those who think it's a fantasy for btc to reach $10,000 are being unrealistic. We would only need a $100 Billion market cap to get close to that number. If history is any indication, btc could potentially achieve that in 5 years or less, depending (once again) on a multitude of factors. But it's very possible and one might even say quite probable. Btc went from a penny to $450+ in 6 years. That's an enormous increase

[Kidsgarter]

One million dollars may or may not happen. There are too many factors to consider, not the least is the number of viable alternatives. However, those who think it's a fantasy for btc to reach $10,000 are being unrealistic. We would only need a $100 Billion market cap to get close to that number. If history is any indication, btc could potentially achieve that in 5 years or less, depending (once again) on a multitude of factors. But it's very possible and one might even say quite probable. Btc went from a penny to $450+ in 6 years. That's an enormous increase

The price could easily double every year, so in 5 years, it is 32 times of present value, or 18,000 dollars.

[mindrust]

It is only possible if you can convince every single person on  earth to sell their US Dollars for Bitcoins. (which will result as the destruction of USD btw). That can't happen as long as the United States of America is alive or if the US simple decides to replace USD with bitcoins. Bitcoin can go 1000$ or maybe 1500$ but after that point they are going to need big boys' support. This is also unlikely to happen because giving their support as big boys, will make the others who bought bitcoins earlier, richer. There is a world order going on and big boys don't wanna change the rules of the game.

Jealousy, Greed and Anger will stop bitcoin.

[bit1]

One word: Impossible.

Bitcoin will never reach to 1000000. Maybe in 1000 years. People gonna dump everything they got when the price reaches to 1000$.

Even so in such a long period of time things will be completely different what they are now. May be  they appoint primitive what is now .

[miningdude]

That will never happend its impossible.

[spazzdla]

21 Trillion dollar market cap.. hum. 

https://www.quandl.com/collections/economics/stock-market-capitalization-by-country

US Stock market was 11.7 Trillion


https://en.wikipedia.org/wiki/Gold_reserve

It has been estimated that all the gold mined by the end of 2011 totalled 171,300 tonnes. At a price of US$1,500 per troy ounce, reached on 12 April 2013, one tonne of gold has a value of approximately US$48.2 million. The total value of all gold ever mined would exceed US$8.2 trillion at that valuation.

[zimmah]

One million dollars may or may not happen. There are too many factors to consider, not the least is the number of viable alternatives. However, those who think it's a fantasy for btc to reach $10,000 are being unrealistic. We would only need a $100 Billion market cap to get close to that number. If history is any indication, btc could potentially achieve that in 5 years or less, depending (once again) on a multitude of factors. But it's very possible and one might even say quite probable. Btc went from a penny to $450+ in 6 years. That's an enormous increase

it went from $12 to $1244 in 11 months before

$10,000 could easily be reached early 2017.

$1,000,000 will obviously take a while longer, but we could see it as early as 2020.

[crairezx20]

This time we cannot think that 1 bitcoin will be reach at $1m its impossible to think it right now but this coming block halving until 2017 if we see the price will stable at 1k value i think we will see the price of bitcoin in the future near to that price i think.. but for now the possible that we can see in the market i think around 600-900 and possible price in the future is $1k-$4k value.. this is just my speculation anytime the price can be change depends in buyer and traders.. or demands and supply..

[asrilani]

One million dollars may or may not happen. There are too many factors to consider, not the least is the number of viable alternatives. However, those who think it's a fantasy for btc to reach $10,000 are being unrealistic. We would only need a $100 Billion market cap to get close to that number. If history is any indication, btc could potentially achieve that in 5 years or less, depending (once again) on a multitude of factors. But it's very possible and one might even say quite probable. Btc went from a penny to $450+ in 6 years. That's an enormous increase

it went from $12 to $1244 in 11 months before

$10,000 could easily be reached early 2017.

$1,000,000 will obviously take a while longer, but we could see it as early as 2020.

The stable price before the big pump was around $120 in June or July. So that is about 10 times increase.

[ElpadroBitcoin]

1 Bitcoin = $1,000,000 USD
21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

It would be crazy if that was going to happen but I am sure that the value will never be that high. There are to many people using Bitcoin that means that so many people would become millionaires I just do not see something like that happening.

[elyas772]

I hope bitcoin up to $1000.000 lol
But its possibility

but there will never be expectation that bitcoin can reach very high, as you would expect. $1000-5000 is the highest price that could be achieved bitcoin.

[zimmah]

One million dollars may or may not happen. There are too many factors to consider, not the least is the number of viable alternatives. However, those who think it's a fantasy for btc to reach $10,000 are being unrealistic. We would only need a $100 Billion market cap to get close to that number. If history is any indication, btc could potentially achieve that in 5 years or less, depending (once again) on a multitude of factors. But it's very possible and one might even say quite probable. Btc went from a penny to $450+ in 6 years. That's an enormous increase

it went from $12 to $1244 in 11 months before

$10,000 could easily be reached early 2017.

$1,000,000 will obviously take a while longer, but we could see it as early as 2020.

The stable price before the big pump was around $120 in June or July. So that is about 10 times increase.

in January that same year they were only at $12 so like i said, 100 times increase in 11 months.

Even after the massive 'collapse' they never came anywhere near $12 again, (or even $120 for that matter).

The same could (and in my opinion is likely) happen again.

It could be that by 2017 the price will be nearly 100 times the current price (so $40000~50000) for a short while and that after the dip it will still never even touch anywhere near $4000 at the bottom. And it will likely stay above $10k most of the time.

[sotisoti]

1 million usd for a bitcoin, it's not going to happen.

[zimmah]

1 Bitcoin = $1,000,000 USD
21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

It would be crazy if that was going to happen but I am sure that the value will never be that high. There are to many people using Bitcoin that means that so many people would become millionaires I just do not see something like that happening.

21 trillion, that's still less than the national wealth of china. And much less than the national wealth of the world.

It's not that weird to reach 21 trillion.

Gold has a market cap of 7 trillion, and bitcoin is better than gold.

also, just because you use bitcoin won't make you a millionaire, most people don't own a full bitcoin, and even if bitcoin would reach $1 million it would not create too many millionaires or billionaires.

I calculated that already and compared it to the current amount of millionaires and billionaires in the world, and actually if you assume 1 bitcoin is worth 1 million, you would get almost exactly the amount of millionaires and billionaires as there are in the world.

coincidence? I don't think so.

It's zipfs law right there.

[OrangeII]

I am not sure bitcoin price will be $ 1,000,000, the price is very expensive in my opinion. apart from that I also ask each other, what can make bitcoin prices rose so high as $ 1 million

[zimmah]

I am not sure bitcoin price will be $ 1,000,000, the price is very expensive in my opinion. apart from that I also ask each other, what can make bitcoin prices rose so high as $ 1 million

demand

and low supply

[coinyard]

1 Bitcoin = $1,000,000 USD
21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

It would be crazy if that was going to happen but I am sure that the value will never be that high. There are to many people using Bitcoin that means that so many people would become millionaires I just do not see something like that happening.

21 trillion, that's still less than the national wealth of china. And much less than the national wealth of the world.

It's not that weird to reach 21 trillion.

Gold has a market cap of 7 trillion, and bitcoin is better than gold.

also, just because you use bitcoin won't make you a millionaire, most people don't own a full bitcoin, and even if bitcoin would reach $1 million it would not create too many millionaires or billionaires.

I calculated that already and compared it to the current amount of millionaires and billionaires in the world, and actually if you assume 1 bitcoin is worth 1 million, you would get almost exactly the amount of millionaires and billionaires as there are in the world.

coincidence? I don't think so.

It's zipfs law right there.

$21 trillion is similar to the US state debt. So it is not a big amount. It is much less than the total wealth.

[Fuppy]

$1 million per BTC (inflation adjusted value) is not unreasonable at all.

There aren't 21 million BTC available. Satoshi owns a million that he might not spend. Plus there are more bitcoins that need to get mined and as many as 3 million BTC that have been lost during the early years. The real money supply (even 20 years from now) is more like 19 million BTC, maybe as low as 16 million BTC.

Also $21 trillion dollars is not that much money! Just looks at the global money supply which bitcoin could replace some or all of. Assuming 18 million BTC:

M0 = $5,000,000,000,000 = $28,000 per BTC
M1 = $25,000,000,000,000 = $1,300,000 per BTC
M2 = $60,000,000,000,000 = $3,300,000 per BTC
M3 = $75,000,000,000,000 = $4,100,000 per BTC

Offshore, tax haven assets are currently valued as $30 trillion. If 10% of that went into BTC you're looking at over $167,000 per BTC.

If bitcoin achieves global currency status, how much demand would there be for it? Everyone will be using it daily, investment funds will have have significant holdings, billions of dollars will be transacted daily, etc. The net worth of the world is $241 Trillion dollars. How much of that will be held as BTC in a global bitcoin monetary system? A lot!

You guys need to dream bigger!

[asrilani]

$1 million per BTC (inflation adjusted value) is not unreasonable at all.

There aren't 21 million BTC available. Satoshi owns a million that he might not spend. Plus there are more bitcoins that need to get mined and as many as 3 million BTC that have been lost during the early years. The real money supply (even 20 years from now) is more like 19 million BTC, maybe as low as 16 million BTC.

Also $21 trillion dollars is not that much money! Just looks at the global money supply which bitcoin could replace some or all of. Assuming 18 million BTC:

M0 = $5,000,000,000,000 = $28,000 per BTC
M1 = $25,000,000,000,000 = $1,300,000 per BTC
M2 = $60,000,000,000,000 = $3,300,000 per BTC
M3 = $75,000,000,000,000 = $4,100,000 per BTC

Offshore, tax haven assets are currently valued as $30 trillion. If 10% of that went into BTC you're looking at over $167,000 per BTC.

If bitcoin achieves global currency status, how much demand would there be for it? Everyone will be using it daily, investment funds will have have significant holdings, billions of dollars will be transacted daily, etc. The net worth of the world is $241 Trillion dollars. How much of that will be held as BTC in a global bitcoin monetary system? A lot!

You guys need to dream bigger!

That is a good analysis with fitures. That is just using the US data. If we use the world data, the value will be even higher.

[Qunenin]

I am not sure bitcoin price will be $ 1,000,000, the price is very expensive in my opinion. apart from that I also ask each other, what can make bitcoin prices rose so high as $ 1 million

demand

and low supply

I also don't think we'll see the price touch the $1000 price level any time sooner or not even later. What can be the realistic price bitcoin can ever reach ?
For my point of view, it is $5000 Max, unless or until any miracle happens.

[d5000]

The absolute maximum I think it can reach (I wouldn't bet on it) is about $15-20000 per BTC.

Cryptocurrencies will have a much larger market share in the future. I think in 10 years they will dominate the remittances market. But I don't expect them to be the main method of payment. And I also don't think Bitcoin can keep its near-monopoly. There will be cheaper (transaction fees), stabler (price stability) and feature-richer cryptocurrencies.

The only chance it could go to 1 million is in the case of some very improbable event, like a global war where internet connection miraculously stays intact.

[Monnt]

$1,000,000 in btc may look big right now, but if bitcoin ever rose up to that price, it wouldn't be that the value of it went up, but more likely the value of fiat went down. Keep that in mind.

[Mobius]

That would be insane! But it is always good to dream.

[coinyard]

$1,000,000 in btc may look big right now, but if bitcoin ever rose up to that price, it wouldn't be that the value of it went up, but more likely the value of fiat went down. Keep that in mind.

The fiat will go down a lot in the future. But the value of Bitcoin will also rise due to the mass adoption.

[wikenpp]

The absolute maximum I think it can reach (I wouldn't bet on it) is about $15-20000 per BTC.

Cryptocurrencies will have a much larger market share in the future. I think in 10 years they will dominate the remittances market. But I don't expect them to be the main method of payment. And I also don't think Bitcoin can keep its near-monopoly. There will be cheaper (transaction fees), stabler (price stability) and feature-richer cryptocurrencies.

The only chance it could go to 1 million is in the case of some very improbable event, like a global war where internet connection miraculously stays intact.

Na even that seems little bit high if you ask me. I guess the maximum (if the plans works out and adoption is at our feet) would be somewhere in between 3000-10000).
I don't see it going much higher, because the succes of bitcoin will make the banks more aggressively jump in and take a piece of bitcoin's market cap.

[zimmah]

I am not sure bitcoin price will be $ 1,000,000, the price is very expensive in my opinion. apart from that I also ask each other, what can make bitcoin prices rose so high as $ 1 million

demand

and low supply

I also don't think we'll see the price touch the $1000 price level any time sooner or not even later. What can be the realistic price bitcoin can ever reach ?
For my point of view, it is $5000 Max, unless or until any miracle happens.

a couple of million

like 5 million or so, that would be about the limit of a sustainable price.

[d5000]

Na even that seems little bit high if you ask me. I guess the maximum (if the plans works out and adoption is at our feet) would be somewhere in between 3000-10000).
I don't see it going much higher, because the succes of bitcoin will make the banks more aggressively jump in and take a piece of bitcoin's market cap.

I also think that probability is very high that we won't ever see $10000. My personal guess for a "realistic" maximum is about 3000-5000$.

But 15000-20000 are possible if you make an estimation based on the actual remittance and electronic commerce markets, the main application areas for Bitcoin and cryptocurrencies in general. But this would be only possible if Bitcoin keeps its "near-monopoly" for some years more.

[BurtW]

We cannot/do not want to get to $1,000,000 or even $500,000 per BTC any time soon unless there is hyperinflation and the dollar were to lose most of its value.  In other words the only way we are going to get to $1,000,000 or even $500,000 if for that many USD to be worth what $1,000 or $500 is worth today in terms of purchasing power.  Here is the math behind it:

https://bitcointalk.org/index.php?topic=694401.0

If BTC were to go to $500,000 in this era it would cause a catastrophic mining bubble:

   $500,000 x 25 = $12,500,000 per block = $75,000,000 per hour

$75 million per hour would drive the mining to attempt to use 675 GW.  This is about 30% of all the power generated on the planet.

So, in order to keep our power consumption under about 2% of world wide power production, we cannot/do not want the price to get to $500,000 before era 6, which is about 2033 or so.

Using my previously derived formula for the power consumption:

P = (6(50/2^e) + f)(x)(1 - g)/c [kW]

where:

x = exchange rate [USD/BTC]
e = era [0..32] (we are currently in era 1)
f = average fees per hour [BTC/hour]
c = cost of energy [USD/kWh]
g = average gross profit margin [unitless ratio]

we can look at the power consumption in each era assuming a price of $500,000 per BTC.

In order to make it simple I will make the following assumptions:

x = $500,000 per BTC
f = fees per hour will keep the coinbase above 6 BTC/hour (1 BTC/block) in all eras
c = $0.10 per kWh
g = 0.1 miner gross profit margin

Code:

      Original target      Subsidy    Est Fees  Power  % of total world
Era    starting year    BTC/block    BTC/hour     GW  power production
---  ---------------  -----------  ----------  -----  ----------------
  0             2009  50.00000000  0.00000000  1,350            58.41%
  1             2013  25.00000000  0.00000000    675            29.20%
  2             2017  12.50000000  0.00000000    337            14.60%
  3             2021   6.25000000  0.00000000    169             7.30%
  4             2025   3.12500000  0.00000000     84             3.65%
  5             2029   1.56250000  0.00000000     42             1.83%
  6             2033   0.78125000  1.31250000     27             1.17%
  7             2037   0.39062500  3.65625000     27             1.17%
  8             2041   0.19531250  4.82812500     27             1.17%
  9             2045   0.09765625  5.41406250     27             1.17%

[richardsNY]

$1,000,000 in btc may look big right now, but if bitcoin ever rose up to that price, it wouldn't be that the value of it went up, but more likely the value of fiat went down. Keep that in mind.

The fiat will go down a lot in the future. But the value of Bitcoin will also rise due to the mass adoption.

Fiat will always go down in value as it has a never ending supply. That's also the reason why large investors and normal investors as you and me are looking for alternatives. For me this alternative is Bitcoin and I hope it will also be the chosen alternative for the average joes of this world.

[zimmah]

We cannot/do not want to get to $1,000,000 or even $500,000 per BTC any time soon unless there is hyperinflation and the dollar were to lose most of its value.  In other words the only way we are going to get to $1,000,000 or even $500,000 if for that many USD to be worth what $1,000 or $500 is worth today in terms of purchasing power.  Here is the math behind it:

https://bitcointalk.org/index.php?topic=694401.0

If BTC were to go to $500,000 in this era it would cause a catastrophic mining bubble:

   $500,000 x 25 = $12,500,000 per block = $75,000,000 per hour

$75 million per hour would drive the mining to attempt to use 675 GW.  This is about 30% of all the power generated on the planet.

So, in order to keep our power consumption under about 2% of world wide power production, we cannot/do not want the price to get to $500,000 before era 6, which is about 2033 or so.

Using my previously derived formula for the power consumption:

P = (6(50/2^e) + f)(x)(1 - g)/c [kW]

where:

x = exchange rate [USD/BTC]
e = era [0..32] (we are currently in era 1)
f = average fees per hour [BTC/hour]
c = cost of energy [USD/kWh]
g = average gross profit margin [unitless ratio]

we can look at the power consumption in each era assuming a price of $500,000 per BTC.

In order to make it simple I will make the following assumptions:

x = $500,000 per BTC
f = fees per hour will keep the coinbase above 6 BTC/hour (1 BTC/block) in all eras
c = $0.10 per kWh
g = 0.1 miner gross profit margin

Code:

      Original target      Subsidy    Est Fees  Power  % of total world
Era    starting year    BTC/block    BTC/hour     GW  power production
---  ---------------  -----------  ----------  -----  ----------------
  0             2009  50.00000000  0.00000000  1,350            58.41%
  1             2013  25.00000000  0.00000000    675            29.20%
  2             2017  12.50000000  0.00000000    337            14.60%
  3             2021   6.25000000  0.00000000    169             7.30%
  4             2025   3.12500000  0.00000000     84             3.65%
  5             2029   1.56250000  0.00000000     42             1.83%
  6             2033   0.78125000  1.31250000     27             1.17%
  7             2037   0.39062500  3.65625000     27             1.17%
  8             2041   0.19531250  4.82812500     27             1.17%
  9             2045   0.09765625  5.41406250     27             1.17%

several things would happen that would mess up your predictions

1) ASIC manufacturers would not be able to supply enough ASICs, so ASICs would become really expensive. Also there would be quite a large waiting time for ASICs to be delivered because of the high demand. (ASICs need to be physically produced, you can't just create petahashes worth of miners out of thin air, they need to be build, this takes time and money).

2) If somehow there would suddenly come more miners (there won't because of point 1) and they would consume significantly more power, then power would become more expensive world-wide. Most people would try to limit their power usage. Governments might even try to subsidize plans to use less power, or if it's really extreme they might enforce policies to limit power usage. This may or may not be paired with an increased surge in renewable energy.

3) More energy efficient ASICs would be produced, and the research for more efficient chips would be accelerated because of high demand for energy-efficient chips. Because of the vast amounts of wealth ASIC manufactures now have, they would buy up companies like IBM, Nvidea and Intel to benefit from their expertise in making energy efficient hardware. ASICs and computer hardware would be increasingly efficient, although computer components might be developed more slowly because most research is now in ASICs.

probably more  haven't thought of.

[BurtW]

several things would happen that would mess up your predictions

1) ASIC manufacturers would not be able to supply enough ASICs, so ASICs would become really expensive. Also there would be quite a large waiting time for ASICs to be delivered because of the high demand. (ASICs need to be physically produced, you can't just create petahashes worth of miners out of thin air, they need to be build, this takes time and money).

This is a good point.  The ASICs would become more expensive due to the supply issues - until the supply issues are sorted out.  This would cause the power consumption to not be as bad as predicted - until the supply issues are sorted out.  This is why I said

$75 million per hour would drive the mining to attempt to use 675 GW

2) If somehow there would suddenly come more miners (there won't because of point 1) and they would consume significantly more power, then power would become more expensive world-wide. Most people would try to limit their power usage. Governments might even try to subsidize plans to use less power, or if it's really extreme they might enforce policies to limit power usage. This may or may not be paired with an increased surge in renewable energy.

If mining were to produce $75,000,000 per hour you would see a Bitcoin mining rush unlike anything we have ever seen. Everyone and their grandmother would become interested in and attempt to mine.  I agree with your first point that this would cause a short term supply issue with mining equipment but disagree:  everyone would want to mine and there would be a lot more people trying to mine with any "pick and shovel" they can get their hands on.  

Yes, a sudden increase in the consumption of energy would drive the prices higher so the formula given would need to be adjusted, perhaps making the cost of energy (c) a function instead of a constant.  As a side effect of the much higher prices for energy, yes, the very expensive renewable sources could become more viable.  So, a huge demand for energy for the Bitcoin network may be good for the renewable energy sector as it burns through all our non-renewable sources.

3) More energy efficient ASICs would be produced, and the research for more efficient chips would be accelerated because of high demand for energy-efficient chips. Because of the vast amounts of wealth ASIC manufactures now have, they would buy up companies like IBM, Nvidea and Intel to benefit from their expertise in making energy efficient hardware. ASICs and computer hardware would be increasingly efficient, although computer components might be developed more slowly because most research is now in ASICs.

No.  By design, mining equipment efficiency has no effect on the total amount of energy the Bitcoin network attempts to consume.  Mining equipment efficiency only affects the difficulty - not overall power consumption.

[ElpadroBitcoin]

1 Bitcoin = $1,000,000 USD
21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

You know that this is impossible to happen even the richest man in the world does not even have that much money. I am sure that you will not be able to earn that much money with Bitcoin.

[zimmah]

1 Bitcoin = $1,000,000 USD
21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

You know that this is impossible to happen even the richest man in the world does not even have that much money. I am sure that you will not be able to earn that much money with Bitcoin.

that doesn't even make sense.

why would the richest man in the world need enough money to buy all bitcoins?

the richest man in the world doesn't have enough money to buy all euros either, that doesn't collapse the value of the euro.

The richest man in the world can't even afford all the gold in the world either, that doesn't crash the gold market.

Your argument is just so bad.

[BurtW]

1 Bitcoin = $1,000,000 USD
21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

You know that this is impossible to happen even the richest man in the world does not even have that much money. I am sure that you will not be able to earn that much money with Bitcoin.

Obvious signature spammer is obvious.

[Fidemoga]

1 Bitcoin = $1,000,000 USD
21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

You know that this is impossible to happen even the richest man in the world does not even have that much money. I am sure that you will not be able to earn that much money with Bitcoin.

that doesn't even make sense.

why would the richest man in the world need enough money to buy all bitcoins?

the richest man in the world doesn't have enough money to buy all euros either, that doesn't collapse the value of the euro.

The richest man in the world can't even afford all the gold in the world either, that doesn't crash the gold market.

Your argument is just so bad.

The richest people uses 1% of the wealth to buy the bitcoin, the price of the bitcoin will be $1 million each.

[Bitcoinbro]

Each person own 1 Bitcoin and hold on to it for 20+ years.

Bitcoin is the best investment of all time. Owning Bitcoin is better than owning a house.

We know that that is not going to happen at all, so do not get your hopes up for something like this to happen because it will not. To many people would become rich if that happens.

[BillyBobZorton]

Each person own 1 Bitcoin and hold on to it for 20+ years.

Bitcoin is the best investment of all time. Owning Bitcoin is better than owning a house.

We know that that is not going to happen at all, so do not get your hopes up for something like this to happen because it will not. To many people would become rich if that happens.

Tons of people become millionaire yearly.. what's the problem?
Also, a lot of people will gradually sell. FEW people will ever own 1 BTC, so it's very possible it going 1 million each in the future. Think about it.

[hawkins]

Each person own 1 Bitcoin and hold on to it for 20+ years.

Bitcoin is the best investment of all time. Owning Bitcoin is better than owning a house.

We know that that is not going to happen at all, so do not get your hopes up for something like this to happen because it will not. To many people would become rich if that happens.

Tons of people become millionaire yearly.. what's the problem?
Also, a lot of people will gradually sell. FEW people will ever own 1 BTC, so it's very possible it going 1 million each in the future. Think about it.

if that happens I think there will be price increases irregular. The price is very much for 1 bitcoin, and I think it will not happen, because it could make bitcoin users to get rich quick

[Denker]

Each person own 1 Bitcoin and hold on to it for 20+ years.

Bitcoin is the best investment of all time. Owning Bitcoin is better than owning a house.

We know that that is not going to happen at all, so do not get your hopes up for something like this to happen because it will not. To many people would become rich if that happens.

First of all, who is WE??
And HOW do you know this is not goinh to happen?
If all those 7,4 billion people would like to have Bitcoin, each of them could only own 0,003 BTC!!!
Right now there are mostly 3-5 million Bitcoin users.
BTC's market cap is so tiny!!Just alone apple has 20x more cash reserves!!
There are several trillions of dollars in offshore tax heaven accounts, precious metals market, real estate, stocks, bonds, derivatives...
Only a very tiny portion of each those markets moving into Bitcoin will push it to 7 figures!
Bitcoin is an almost empty storage tank, just waiting for the big money to flood in!

[Red-Apple]

Each person own 1 Bitcoin and hold on to it for 20+ years.

Bitcoin is the best investment of all time. Owning Bitcoin is better than owning a house.

We know that that is not going to happen at all, so do not get your hopes up for something like this to happen because it will not. To many people would become rich if that happens.

we don't know anything, the only thing you can say here is that it is unlikely to reach that price.

besides nobody will get rich if the price goes to that high amount. because people will most likely sell their coins long before this happens at 1/100 of that price and buy again at much higher price.

[asrilani]

Each person own 1 Bitcoin and hold on to it for 20+ years.

Bitcoin is the best investment of all time. Owning Bitcoin is better than owning a house.

We know that that is not going to happen at all, so do not get your hopes up for something like this to happen because it will not. To many people would become rich if that happens.

we don't know anything, the only thing you can say here is that it is unlikely to reach that price.

besides nobody will get rich if the price goes to that high amount. because people will most likely sell their coins long before this happens at 1/100 of that price and buy again at much higher price.

If 10 million people use the bitcoin regularly, the price could be 50 times of the present price, or $30,000 each.

[awesome31312]

That will only happen because the dollar will suffer a great deal of inflation, not a good thing

[BurtW]

That will only happen because the dollar will suffer a great deal of inflation, not a good thing for everyone and everything except the Bitcoin versus "house of cards government issued fiat currencies" exchange rate.

FIFY

[GermanFoobla]

1 Bitcoin = $1,000,000 USD
21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

You know that this is impossible to happen even the richest man in the world does not even have that much money. I am sure that you will not be able to earn that much money with Bitcoin.

Obvious signature spammer is obvious.

The value of Bitcoin is not going to be that high and that is because you have to know that the value of Bitcoin wont rise that fast and that is bad.
Because now we have to wait a longer time until we can sell it and that is also the bad thing of it because some people are also greedy.

[awesome31312]

1 Bitcoin = $1,000,000 USD
21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

You know that this is impossible to happen even the richest man in the world does not even have that much money. I am sure that you will not be able to earn that much money with Bitcoin.

Obvious signature spammer is obvious.

I don't see anything in his post that constitutes spam. Or was that your way of trying to refute his claim?

1 Bitcoin = $1,000,000 USD
21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

You know that this is impossible to happen even the richest man in the world does not even have that much money. I am sure that you will not be able to earn that much money with Bitcoin.

that doesn't even make sense.

why would the richest man in the world need enough money to buy all bitcoins?

the richest man in the world doesn't have enough money to buy all euros either, that doesn't collapse the value of the euro.

The richest man in the world can't even afford all the gold in the world either, that doesn't crash the gold market.

Your argument is just so bad.

I think he meant that $21,000,000 for every Bitcoin owner is a sum that is too large to be owned by a single person, I disagree, but you misunderstood the post (I think).

[Bitplumber]

Each person own 1 Bitcoin and hold on to it for 20+ years.

Bitcoin is the best investment of all time. Owning Bitcoin is better than owning a house.

We know that that is not going to happen at all, so do not get your hopes up for something like this to happen because it will not. To many people would become rich if that happens.

First of all, who is WE??
And HOW do you know this is not goinh to happen?
If all those 7,4 billion people would like to have Bitcoin, each of them could only own 0,003 BTC!!!
Right now there are mostly 3-5 million Bitcoin users.
BTC's market cap is so tiny!!Just alone apple has 20x more cash reserves!!
There are several trillions of dollars in offshore tax heaven accounts, precious metals market, real estate, stocks, bonds, derivatives...
Only a very tiny portion of each those markets moving into Bitcoin will push it to 7 figures!
Bitcoin is an almost empty storage tank, just waiting for the big money to flood in!

Your bang on dude!
If bitcoin  reached Apples market cap one bitcoin  would be worth 30k.
This is within reach in the very near future guys. 🚀

[asrilani]

Each person own 1 Bitcoin and hold on to it for 20+ years.

Bitcoin is the best investment of all time. Owning Bitcoin is better than owning a house.

We know that that is not going to happen at all, so do not get your hopes up for something like this to happen because it will not. To many people would become rich if that happens.

First of all, who is WE??
And HOW do you know this is not goinh to happen?
If all those 7,4 billion people would like to have Bitcoin, each of them could only own 0,003 BTC!!!
Right now there are mostly 3-5 million Bitcoin users.
BTC's market cap is so tiny!!Just alone apple has 20x more cash reserves!!
There are several trillions of dollars in offshore tax heaven accounts, precious metals market, real estate, stocks, bonds, derivatives...
Only a very tiny portion of each those markets moving into Bitcoin will push it to 7 figures!
Bitcoin is an almost empty storage tank, just waiting for the big money to flood in!

Your bang on dude!
If bitcoin  reached Apples market cap one bitcoin  would be worth 30k.
This is within reach in the very near future guys. 🚀

$30k is about 50 times of present price. If the price rises 40% a year, it will take 11 years to achieve that value.

[BitcoinPC]

Each person own 1 Bitcoin and hold on to it for 20+ years.

Bitcoin is the best investment of all time. Owning Bitcoin is better than owning a house.

We know that that is not going to happen at all, so do not get your hopes up for something like this to happen because it will not. To many people would become rich if that happens.

Its is not possible for bitcoin price to be $1,000,000. It cannot happen in next 100 + years also. I must say that no one can think of such a bitcoin price in dream also.

[BurtW]

Each person own 1 Bitcoin and hold on to it for 20+ years.

Bitcoin is the best investment of all time. Owning Bitcoin is better than owning a house.

We know that that is not going to happen at all, so do not get your hopes up for something like this to happen because it will not. To many people would become rich if that happens.

Its is not possible for bitcoin price to be $1,000,000. It cannot happen in next 100 + years also. I must say that no one can think of such a bitcoin price in dream also.

It is inevitable that one Bitcoin will be worth $1,000,000 some day because by design $1,000,000 some day in the future will eventually have the purchasing power of $500 today.  Bitcoin has the opposite design and one Bitcoin should increase in purchasing power over time.  Eventually the rising purchasing power of Bitcoin will intersect with the falling purchasing power of the dollar and one BTC will be worth $1,000,000.

When this will happen is the real question.

[coinyard]

Each person own 1 Bitcoin and hold on to it for 20+ years.

Bitcoin is the best investment of all time. Owning Bitcoin is better than owning a house.

We know that that is not going to happen at all, so do not get your hopes up for something like this to happen because it will not. To many people would become rich if that happens.

Its is not possible for bitcoin price to be $1,000,000. It cannot happen in next 100 + years also. I must say that no one can think of such a bitcoin price in dream also.

It is inevitable that one Bitcoin will be worth $1,000,000 some day because by design $1,000,000 some day in the future will eventually have the purchasing power of $500 today.  Bitcoin has the opposite design and one Bitcoin should increase in purchasing power over time.  Eventually the rising purchasing power of Bitcoin will intersect with the falling purchasing power of the dollar and one BTC will be worth $1,000,000.

When this will happen is the real question.

When the bitcoin is worth $1,000,000 some day, the buying power is worth at least $100,000 today. That is due to the value increase, not the dollar depreciation.

[MaritiJames3]

Some people are waiting for the price to be one million Dollar per Bitcoin but I know that the price is not going to be that high. We have to stay realistic here because if not you are just going to be blinded.

[dinda22]

Some people are waiting for the price to be one million Dollar per Bitcoin but I know that the price is not going to be that high. We have to stay realistic here because if not you are just going to be blinded.

although the price of bitcoin is always make a surprise, like this time rising very high. but keep that $1 million is not realistic.
but $5-10k it is still possible to achieve, although it takes a long time.

[coinyard]

Some people are waiting for the price to be one million Dollar per Bitcoin but I know that the price is not going to be that high. We have to stay realistic here because if not you are just going to be blinded.

although the price of bitcoin is always make a surprise, like this time rising very high. but keep that $1 million is not realistic.
but $5-10k it is still possible to achieve, although it takes a long time.

If the $5,000 is achieved in 2-3 years, I think it is very healthy. If we achieve that in a year, there is a big bubble.

[Bitcoinbro]

Some people are waiting for the price to be one million Dollar per Bitcoin but I know that the price is not going to be that high. We have to stay realistic here because if not you are just going to be blinded.

All I want to say is not to get your hopes to high up because it is not sure of there will ever be a Bitcoin that is going to be worth one million Dollar.
I am not saying that it is impossible but it is pretty unlikely to happen.

[co5hike]

Some people are waiting for the price to be one million Dollar per Bitcoin but I know that the price is not going to be that high. We have to stay realistic here because if not you are just going to be blinded.

All I want to say is not to get your hopes to high up because it is not sure of there will ever be a Bitcoin that is going to be worth one million Dollar.
I am not saying that it is impossible but it is pretty unlikely to happen.

Yes its not impossible but its too high to expect from it, dreaming with open eyes is not a good thing, and it doesn't seems to be realistic too.

[Galiatram]

Each person own 1 Bitcoin and hold on to it for 20+ years.

Bitcoin is the best investment of all time. Owning Bitcoin is better than owning a house.

I don't saying it won't happen in future but i don't think it will happen in 20 years. And if some hold bitcoin by selling their house.Their is risk bitcoin value can decrease to zero.But if i won a house it don't have any chance to zero.

Bitcoin will make you rich or make you bust in 50 years.

no one know what will happen in future, bitcoin will be rising or not . but almost every investment must have risk. just make sure you invest money that you afford to lose.

I dont think this can be true becasue the bitcoin will never reach just one milion how is that even possible that has to mean that everybody needs to sell their coins only after that the coin will rise allot but not even then he will hit the one million.

[icepick007]

this is funny and scary...but on a more nerdy note the long term average inflation rate for the dollar over the last 100 years or so has been 3.22%. So prices double roughly every 22 years. Going purely by the math, they would be a 1000x in 220 years or so...so this event should definitely happen between year 2240 - 2250 

But unlike fiat currency, whose money supply is continually added, bitcoins are fixed at 21 million. Assuming bitcoins were to keep increasing in popularity and acceptance and the user trajectory keeps increasing and assuming a 5% inflation rate (i just pulled this from my hat), prices would double every 15 years, so in another 150 - 160 years we would get there or by year 2165 - 2175.

[the_poet]

As much as I crave it, I just don't think it will ever happen.

[fkvidar]

As much as I crave it, I just don't think it will ever happen.

Exactly it is something out of the reach, and we are expecting too high from bitcoin, that value is not realistic one and it would be waste of time for holding coins to sell at that price.

[fravia]

1 Bitcoin = $1,000,000 USD
21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

One bitcoin for one million is possible, but it will take lots of time and luck, because everyone should use bitcoins then for this to happen

And i think that closest date that this could happen is not earlier than in 2050 and like i said only if we will be very lukcy

[BurtW]

this is funny and scary...but on a more nerdy note the long term average inflation rate for the dollar over the last 100 years or so has been 3.22%. So prices double roughly every 22 years. Going purely by the math, they would be a 1000x in 220 years or so...so this event should definitely happen between year 2240 - 2250  

But unlike fiat currency, whose money supply is continually added, bitcoins are fixed at 21 million. Assuming bitcoins were to keep increasing in popularity and acceptance and the user trajectory keeps increasing and assuming a 5% inflation rate (i just pulled this from my hat), prices would double every 15 years, so in another 150 - 160 years we would get there or by year 2165 - 2175.

I agree.  It is inevitable that 1 BTC will equal $1,000,000 by design of both systems - assuming both systems last that long.

The real questions are:

1) When will the cross over happen

2) How much will the 1 BTC or the $1,000,000 be able to buy at that point is time?  One average house? One average automobile?  A nice vacation? One bag of groceries?  Or one cup of coffee.

[Bitmore]

One million $ is possible, and potentially sooner than you think.  

If the US dollar currency has a collapse, loses reserve currency status and is no longer used as the currency that Middle East oil transactions are carried out in (and the demise of the petrodollar is the principle intention of the BRICs nations), the hyper inflationary event could be breath taking, followed by a panic stampede to a safe place to store wealth.  

If the dollar collapses that $21 trillion economy and store of wealth will have to be carried out in somebody's currency,

or perhaps nobody's,

as in decentralized,

as in bitcoin.

[bitlancr]

1 Bitcoin = $1,000,000 USD
21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

We know that something like this is just not going to happen with Bitcoin, I think tat we have to stay realistic because speculating about these kind of prizes is going to bring us nowhere. So lets focus on what can really happen with the Bitcoin price in the future.

[log2exp]

I agree.  It is inevitable that 1 BTC will equal $1,000,000 by design of both systems - assuming both systems last that long.

The real questions are:

1) When will the cross over happen

2) How much will the 1 BTC or the $1,000,000 be able to buy at that point is time?  One average house? One average automobile?  A nice vacation? One bag of groceries?  Or one cup of coffee.

Hi Burt, nice to see your post again.

I've followed your mining power based analysis on the price cap for each halving era. Based on your model, the estimation came up by flipperfish's post: https://bitcointalk.org/index.php?topic=694401.msg9186092#msg9186092 are all based on today's dollar purchasing power right?

I agree that the price estimation could be a lot more accurate on how much bread/milk we can get per coin, however, I have yet to find anyone come up with a solid formula based on this model.

[w00t]

I agree.  It is inevitable that 1 BTC will equal $1,000,000 by design of both systems - assuming both systems last that long.

The real questions are:

1) When will the cross over happen

2) How much will the 1 BTC or the $1,000,000 be able to buy at that point is time?  One average house? One average automobile?  A nice vacation? One bag of groceries?  Or one cup of coffee.

Hi Burt, nice to see your post again.

I've followed your mining power based analysis on the price cap for each halving era. Based on your model, the estimation came up by flipperfish's post: https://bitcointalk.org/index.php?topic=694401.msg9186092#msg9186092 are all based on today's dollar purchasing power right?

I agree that the price estimation could be a lot more accurate on how much bread/milk we can get per coin, however, I have yet to find anyone come up with a solid formula based on this model.

I did some calculations and I didn't use the general CPI as it's too much affected by technological advance - I used "Consumer Price Index for All Urban Consumers: Fruits and vegetables" (https://fred.stlouisfed.org/series/CUSR0000SAF113), as I assume today's vegetable is pretty much the same as it was 50 years ago.

My calculations show that average inflation for past 32 years was about 15 % y/y (quite crazy, isn't it?), so in order to keep up with the inflation you must make 15 % extra y/y or your investment needs to do it. Shadowstats.com say that the inflation is between 6-10 % y/y depending on methods used (http://www.shadowstats.com/alternate_data/inflation-charts).

With above in mind I suppose for average person the y/y inflation I suppose is at least 10 %, obviously if in "your" consumer basket is way more iPhones/cars/other consumer goods per year (you're richer) your personal inflation is lower and vice versa.

Again looking at the "CPI - Fruits and vegetables (USD)" index, basically every 10-20 years you need to at least double your money to keep up with the inflation.
2016-05-01    index: $294.68
2006-05-01    index: $246.80
1996-05-01    index: $182.60
1986-05-01    index: $110.10
1976-05-01    index: $57.50
1966-05-01    index: $33
1956-05-01    index: $26.9

===>>> So if you say that 1 BTC will be 1M USD in 10-20 years you will probably buy about half of what you can buy with same amount today, in other words, 1 million USD today is same as 2 million USD in about 15 years.

These calculations assume that the trend will be about same and nothing VERY bad will happen.

[w00t]

well simply said if today's price of 1 BTC is 456.46 USD (AVG for past 6 months) and fruit and vegetable index average for same period is at $299.19 => 1.52

With 1 BTC now you can buy on average 1.52 of the fruit and vegetable index, it should at least stay this way in the future...

[TrueCryptonaire]

Each person own 1 Bitcoin and hold on to it for 20+ years.

Bitcoin is the best investment of all time. Owning Bitcoin is better than owning a house.

Sounds pretty long time frame to me especially considering the fact that the age of btc is already only 7 years - and even that has felt like forever.
However, holding 1-5 btc should not be impossible, and even larger amounts as long as you are having income from other sources and are not forced to sell at current levels.

[hawkins]

sounds like a quick way to become rich. I am sure, if the price of bitcoin to $ 1000.000 in a short time, perhaps all the current bitcoin users would become suddenly rich. maybe everyone will be shocked by this news, and even a director will focus on seeking bitcoin

[Bitcotalk]

Some people are waiting for the price to be one million Dollar per Bitcoin but I know that the price is not going to be that high. We have to stay realistic here because if not you are just going to be blinded.

All I want to say is not to get your hopes to high up because it is not sure of there will ever be a Bitcoin that is going to be worth one million Dollar.
I am not saying that it is impossible but it is pretty unlikely to happen.

if we all do support for bitcoin and we all adopt bitcoin for our normal use then bitcoin will get a high value and it will be then a hope that the price will be at that value.

[coin_gambler]

Some people are waiting for the price to be one million Dollar per Bitcoin but I know that the price is not going to be that high. We have to stay realistic here because if not you are just going to be blinded.

All I want to say is not to get your hopes to high up because it is not sure of there will ever be a Bitcoin that is going to be worth one million Dollar.
I am not saying that it is impossible but it is pretty unlikely to happen.

Yes its not impossible but its too high to expect from it, dreaming with open eyes is not a good thing, and it doesn't seems to be realistic too.

why is it too high to expect such big price in the future? i think it will be really possible pretty soon if the interest in bitcoins will not fade overtime, lets hope it wont happen

one bitcoin will most probably equal to one million dollars in a few decades most probably, when this will happen then bitcoin will be a currency of a lot of countries in my opinion

[BurtW]

I agree.  It is inevitable that 1 BTC will equal $1,000,000 by design of both systems - assuming both systems last that long.

The real questions are:

1) When will the cross over happen

2) How much will the 1 BTC or the $1,000,000 be able to buy at that point is time?  One average house? One average automobile?  A nice vacation? One bag of groceries?  Or one cup of coffee.

Hi Burt, nice to see your post again.

I've followed your mining power based analysis on the price cap for each halving era. Based on your model, the estimation came up by flipperfish's post: https://bitcointalk.org/index.php?topic=694401.msg9186092#msg9186092 are all based on today's dollar purchasing power right?

I agree that the price estimation could be a lot more accurate on how much bread/milk we can get per coin, however, I have yet to find anyone come up with a solid formula based on this model.

Yes, all my calculations in that other thread are based on a constant dollar value.

[techgeek]

Each person own 1 Bitcoin and hold on to it for 20+ years.

Bitcoin is the best investment of all time. Owning Bitcoin is better than owning a house.

Sounds pretty long time frame to me especially considering the fact that the age of btc is already only 7 years - and even that has felt like forever.
However, holding 1-5 btc should not be impossible, and even larger amounts as long as you are having income from other sources and are not forced to sell at current levels.

Its not just that, but the other markets like gold and silver has to be over flowing and being unable to cater to peoples needs.

Then people start looking for other options like bitcoin, but if the market cap for gold is close to 5 trillion then bitcoin remains a small billion category.

[log2exp]

I did some calculations and I didn't use the general CPI as it's too much affected by technological advance - I used "Consumer Price Index for All Urban Consumers: Fruits and vegetables" (https://fred.stlouisfed.org/series/CUSR0000SAF113), as I assume today's vegetable is pretty much the same as it was 50 years ago.

My calculations show that average inflation for past 32 years was about 15 % y/y (quite crazy, isn't it?), so in order to keep up with the inflation you must make 15 % extra y/y or your investment needs to do it. Shadowstats.com say that the inflation is between 6-10 % y/y depending on methods used (http://www.shadowstats.com/alternate_data/inflation-charts).

With above in mind I suppose for average person the y/y inflation I suppose is at least 10 %, obviously if in "your" consumer basket is way more iPhones/cars/other consumer goods per year (you're richer) your personal inflation is lower and vice versa.

Again looking at the "CPI - Fruits and vegetables (USD)" index, basically every 10-20 years you need to at least double your money to keep up with the inflation.
2016-05-01    index: $294.68
2006-05-01    index: $246.80
1996-05-01    index: $182.60
1986-05-01    index: $110.10
1976-05-01    index: $57.50
1966-05-01    index: $33
1956-05-01    index: $26.9

===>>> So if you say that 1 BTC will be 1M USD in 10-20 years you will probably buy about half of what you can buy with same amount today, in other words, 1 million USD today is same as 2 million USD in about 15 years.

These calculations assume that the trend will be about same and nothing VERY bad will happen.

Thank you w00t for coming up with this model. They are making lots sense.

To model estimations based on another indicator that I consider is using published M2 numbers.

For example, since Chinese exchanges have the highest volume, I use the Chinese M2 http://www.tradingeconomics.com/china/money-supply-m2. From last ATH in late 2013, M2 is about 110000 (CNY in billions), and now the M2 in China is about 145000. The delta between them is 35000, an increase of 35000/110000 = 32.8% between late 2013 and now. Which is very close to your 15% y/y inflation number, especially factor in the compounded rate. From this perspective, the ATH in 2013 factor in the M2 increase should really be 7588.9 * 1.328 = 10078.05(CNY) per coin. Only if we pass this number has a true meaning of ATH which factor in the purchasing power.

I'm wondering if we can put w00t's shadow rate or this M2 increase ratio towards BurtW's number as an coefficient. Of cause these numbers fluctuate y/y.

[spain cool]

1 Bitcoin = $1,000,000 USD
21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

if this happens we will all be rich

[Shiver]

I find this hard to believe myself, but I just did an extrapolation based on whatever data I could pull together quickly, and it suggests that it should pass the USD$ 1 million/BTC around December 2022.  Just one year prior to that, it would suggest the paltry sum of $102,000.

That's no joke and no typo, but it does make a *lot* of assumptions such as:

*If previous history is any guide to future performance.

*Not discounting any unknowns about future events of cataclysmic scale.

*No game changers, such as what we saw about peak oil, where usage should have run out by now, but new ways of scraping the barrel, increased efficiency, scope for alternative tech to immediately (in the logarithmic sense) make it redundant.  Another one is human population on the planet - if the model worked on that then we'd all have about 1sqm of land each I guess, but nature has ways of culling non viable systems and maintaining requisite variety.

There will of course be peaks and troughs along the way, and I tried to model it ('model it' being a fancy word for 2 mins with a spreadsheet and a couple of data points for a starting point, nothing techie).  I just tried to find a baseline.  For example, if you'd joined us ATH you'd still as at time of writing, be down rather than up.  OTOH, if you got in when it was a couple of cents per coin then you'd see the market distorted in the opposite way before there was any volume to make meaningful measures of the numbers.

If FIAT doesn't collapse before the above date, and no hyperinflation experiences to mark the end of an empire, then that's a freakingly difficult value to conceive of.  If we're buying bread with wheel barrows of $100 notes then I'd suggest we start collecting parts that could be made into wheelbarrows and trade those for bread instead.

It could have a sudden halt, or a bell curve, or any number of other things that this extremely simple "time to double" projection suggests.  

So no, I don't believe the above numbers as I can't conceive of it compared to any real life experience.  Entertaining daydream though.

[Shiver]

1 Bitcoin = $1,000,000 USD
21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

if this happens we will all be rich

Err... but what about the size of debt of say USA alone, let alone the rest of the world.  Isn't that going to soak up .... what is it currently, $18.4 Trillion or something?  Sometimes I wonder if we actually create anything at all, or whether we're just converting sunlight to food to work to sustain the status quo, with 'wealth creators' gaining an edge on a trend for a few decades/generations before it goes back to the earth.

[pissedoff]

1 Bitcoin = $1,000,000 USD
21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

if this happens we will all be rich

Even the price of gold has not reached this high. It would take a very long time for bitcoin to even hit $10,000 let alone $1,000,000.

[TrueCryptonaire]

1 Bitcoin = $1,000,000 USD
21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

if this happens we will all be rich

Even the price of gold has not reached this high. It would take a very long time for bitcoin to even hit $10,000 let alone $1,000,000.

BTC will be 50 000 + USD within 24 months most likely.
The peak will be pretty sudden and it will escalate within days rather than within months. However, the preparation will take some months of roller coaster

[Shiver]

1 Bitcoin = $1,000,000 USD
21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

if this happens we will all be rich

Even the price of gold has not reached this high. It would take a very long time for bitcoin to even hit $10,000 let alone $1,000,000.

True, although Gold is there because it is stable, not because it has much use case to make it increase outside of that except electronics and a handful of niche requirements.  If you look at Gold historically compared to the purchasing power of whatever Gov't paper or dinar is in vogue at the time, it's more of a stabiliser than anything - a very useful property.  One good thing about Gold is it has lots of historical data to project how it tracks the more wild swings of alternatives, and can be a measure (so far as we're able to determine) of where in a cycle a system is, which will make it look in fashion, or out of fashion when really it's going nowhere other than showing the success or failure of alternative systems.

If Gold is truly undervalued, then I'd just rephrase that and say it is the same as it ever was, and just pointing out that something like FIAT is out of control.  Gold bugs I would say are people that can see the writing on the wall, and are taking self preservation measures.

[w00t]

1 Bitcoin = $1,000,000 USD
21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

if this happens we will all be rich

Even the price of gold has not reached this high. It would take a very long time for bitcoin to even hit $10,000 let alone $1,000,000.

Doesn't matter really - gold is also (usually) not sold in tons but in ounces, same way will be sold BTC at later time in mBTC and Satoshis.

Gold is as of this moment almost 8 Trillion market cap, imho Bitcoin is superior to Gold so with that in mind I see the market cap at least at the same level or higher.

Btw. 8 Trillion market cap means 1 BTC is worth ~ 381 000 USD

[Kidsgarter]

1 Bitcoin = $1,000,000 USD
21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

if this happens we will all be rich

Even the price of gold has not reached this high. It would take a very long time for bitcoin to even hit $10,000 let alone $1,000,000.

Doesn't matter really - gold is also (usually) not sold in tons but in ounces, same way will be sold BTC at later time in mBTC and Satoshis.

Gold is as of this moment almost 8 Trillion market cap, imho Bitcoin is superior to Gold so with that in mind I see the market cap at least at the same level or higher.

Btw. 8 Trillion market cap means 1 BTC is worth ~ 381 000 USD

When the 20 trillion US treasury market is represented in the bitcoin, each bitcoin is worth $1 million.

[Sharma]

Highly unlikely but should that happen, expect economic chaos.

[BurtW]

Highly unlikely but should that happen, expect economic chaos.

You might have that backward:

If we have economic chaos (hyperinflation) then expect it to happen.

[Altynbekova]

1 Bitcoin = $1,000,000 USD
21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

The value of Bitcoin is never going to be that high,  I think that we have to stay realistic and not speculate about things that we know are not going to happen.
I would be a great thing if the value would be that high but it is impossible to think that it will happen.

[Kidsgarter]

1 Bitcoin = $1,000,000 USD
21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

The value of Bitcoin is never going to be that high,  I think that we have to stay realistic and not speculate about things that we know are not going to happen.
I would be a great thing if the value would be that high but it is impossible to think that it will happen.

The US state debt is around $20,000,000,000,000 ($20 Trillion USD). So it is easy for bitcoin to be worth that much.

[praprata]

1 Bitcoin = $1,000,000 USD
21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

The value of Bitcoin is never going to be that high,  I think that we have to stay realistic and not speculate about things that we know are not going to happen.
I would be a great thing if the value would be that high but it is impossible to think that it will happen.

It would be really something if the price would be one million Dollar but a miracle would have to happen to get the price to be that high.
Do not get your hopes up for the price to be this high because the chance is small.

[BurtW]

1 Bitcoin = $1,000,000 USD
21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

The value of Bitcoin is never going to be that high,  I think that we have to stay realistic and not speculate about things that we know are not going to happen.
I would be a great thing if the value would be that high but it is impossible to think that it will happen.

It would be really something if the price would be one million Dollar but a miracle would have to happen to get the price to be that high.
Do not get your hopes up for the price to be this high because the chance is small.

I guess you could call hyperinflation and destruction of the value of the USD a "miracle".   Not what I would call it.

[TrueCryptonaire]

1 Bitcoin = $1,000,000 USD
21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

The value of Bitcoin is never going to be that high,  I think that we have to stay realistic and not speculate about things that we know are not going to happen.
I would be a great thing if the value would be that high but it is impossible to think that it will happen.

It would be really something if the price would be one million Dollar but a miracle would have to happen to get the price to be that high.
Do not get your hopes up for the price to be this high because the chance is small.

I guess you could call hyperinflation and destruction of the value of the USD a "miracle".   Not what I would call it.

You do not need hyperinflation and catastrophies to make btc a coin worth of 1000 000 usd. All you need is some stubborn bagholders and a lot of more demand from the current levels.
Perhaps if there are let's say 100 people starting 10-50 different digital businesses/person that accept btc as the only choice of payment it is possible, and they only accumulate coins, never sell them. If one bussines is able to generate on average 1 btc/day, there is additional demand for cold storages 1000-5000 btc/day. Daily emission is 1800 coins.
I think it is not impossible to find 100 entrepreneurs who are able to start this project from btc community.

[Tippingcoin]

Perhaps if there are let's say 100 people starting 10-50 different digital businesses/person that accept btc as the only choice of payment it is possible, and they only accumulate coins, never sell them.

I'm gonna go ahead and assume that those bitcoin businesses sell what all bitcoin businesses sell: hopes and dreams. While the industrial moguls live in Mom's basements, eating Mom's food.
Because ordinary businesses have expenses: overheads, salaries, restocking merchandise, taxes, etc., etc. Which necessitates spending.

[BurtW]

If you are talking about 1 BTC = $1,000,000 and the $1,000,000 you are talking about has the same purchasing power as $1,000,000 today then no.  See my previous post in this very thread:
 

We cannot/do not want to get to $1,000,000 or even $500,000 per BTC any time soon unless there is hyperinflation and the dollar were to lose most of its value.  In other words the only way we are going to get to $1,000,000 or even $500,000 if for that many USD to be worth what $1,000 or $500 is worth today in terms of purchasing power.  Here is the math behind it:

https://bitcointalk.org/index.php?topic=694401.0

If BTC were to go to $500,000 in this era it would cause a catastrophic mining bubble:

   $500,000 x 25 = $12,500,000 per block = $75,000,000 per hour

$75 million per hour would drive the mining to attempt to use 675 GW.  This is about 30% of all the power generated on the planet.

So, in order to keep our power consumption under about 2% of world wide power production, we cannot/do not want the price to get to $500,000 before era 6, which is about 2033 or so.

Using my previously derived formula for the power consumption:

P = (6(50/2^e) + f)(x)(1 - g)/c [kW]

where:

x = exchange rate [USD/BTC]
e = era [0..32] (we are currently in era 1)
f = average fees per hour [BTC/hour]
c = cost of energy [USD/kWh]
g = average gross profit margin [unitless ratio]

we can look at the power consumption in each era assuming a price of $500,000 per BTC.

In order to make it simple I will make the following assumptions:

x = $500,000 per BTC
f = fees per hour will keep the coinbase above 6 BTC/hour (1 BTC/block) in all eras
c = $0.10 per kWh
g = 0.1 miner gross profit margin

Code:

      Original target      Subsidy    Est Fees  Power  % of total world
Era    starting year    BTC/block    BTC/hour     GW  power production
---  ---------------  -----------  ----------  -----  ----------------
  0             2009  50.00000000  0.00000000  1,350            58.41%
  1             2013  25.00000000  0.00000000    675            29.20%
  2             2017  12.50000000  0.00000000    337            14.60%
  3             2021   6.25000000  0.00000000    169             7.30%
  4             2025   3.12500000  0.00000000     84             3.65%
  5             2029   1.56250000  0.00000000     42             1.83%
  6             2033   0.78125000  1.31250000     27             1.17%
  7             2037   0.39062500  3.65625000     27             1.17%
  8             2041   0.19531250  4.82812500     27             1.17%
  9             2045   0.09765625  5.41406250     27             1.17%

Of course my post is from before the reward was cut in half.  We are now in era 2 so you can adjust the above numbers accordingly.

[TrueCryptonaire]

Perhaps if there are let's say 100 people starting 10-50 different digital businesses/person that accept btc as the only choice of payment it is possible, and they only accumulate coins, never sell them.

I'm gonna go ahead and assume that those bitcoin businesses sell what all bitcoin businesses sell: hopes and dreams. While the industrial moguls live in Mom's basements, eating Mom's food.
Because ordinary businesses have expenses: overheads, salaries, restocking merchandise, taxes, etc., etc. Which necessitates spending.

You did not understand what I meant.
I talked about starting digital businesses, and sometimes they are cheap to build and you do not need expenses to run those. Running multiple web sites will not cost that much.
If one site generates on average BTC 1/day profit, then multiplying it by 50 you get 50 btc profit/day - and if there are 100 such entrepreneus, they lock BTC 5000 /day to their cold storages. Eventually the price has to rise.
Merchants that instadump the bitcoins will be no good for btc (except indirectly perhaps with visibility). The value of btc lies only on the holding of it, not using it as a payment token.

[TrueCryptonaire]

If you are talking about 1 BTC = $1,000,000 and the $1,000,000 you are talking about has the same purchasing power as $1,000,000 today then no.  See my previous post in this very thread:
 

We cannot/do not want to get to $1,000,000 or even $500,000 per BTC any time soon unless there is hyperinflation and the dollar were to lose most of its value.  In other words the only way we are going to get to $1,000,000 or even $500,000 if for that many USD to be worth what $1,000 or $500 is worth today in terms of purchasing power.  Here is the math behind it:

https://bitcointalk.org/index.php?topic=694401.0

If BTC were to go to $500,000 in this era it would cause a catastrophic mining bubble:

   $500,000 x 25 = $12,500,000 per block = $75,000,000 per hour

$75 million per hour would drive the mining to attempt to use 675 GW.  This is about 30% of all the power generated on the planet.

So, in order to keep our power consumption under about 2% of world wide power production, we cannot/do not want the price to get to $500,000 before era 6, which is about 2033 or so.

Using my previously derived formula for the power consumption:

P = (6(50/2^e) + f)(x)(1 - g)/c [kW]

where:

x = exchange rate [USD/BTC]
e = era [0..32] (we are currently in era 1)
f = average fees per hour [BTC/hour]
c = cost of energy [USD/kWh]
g = average gross profit margin [unitless ratio]

we can look at the power consumption in each era assuming a price of $500,000 per BTC.

In order to make it simple I will make the following assumptions:

x = $500,000 per BTC
f = fees per hour will keep the coinbase above 6 BTC/hour (1 BTC/block) in all eras
c = $0.10 per kWh
g = 0.1 miner gross profit margin

Code:

      Original target      Subsidy    Est Fees  Power  % of total world
Era    starting year    BTC/block    BTC/hour     GW  power production
---  ---------------  -----------  ----------  -----  ----------------
  0             2009  50.00000000  0.00000000  1,350            58.41%
  1             2013  25.00000000  0.00000000    675            29.20%
  2             2017  12.50000000  0.00000000    337            14.60%
  3             2021   6.25000000  0.00000000    169             7.30%
  4             2025   3.12500000  0.00000000     84             3.65%
  5             2029   1.56250000  0.00000000     42             1.83%
  6             2033   0.78125000  1.31250000     27             1.17%
  7             2037   0.39062500  3.65625000     27             1.17%
  8             2041   0.19531250  4.82812500     27             1.17%
  9             2045   0.09765625  5.41406250     27             1.17%

Of course my post is from before the reward was cut in half.  We are now in era 2 so you can adjust the above numbers accordingly.

Sure the consumption of electricity rises if btc hits 500 000-1 000 000 usd all of sudden. However, also the mining tech becomes better (more efficient) + there will be more supply for electricity.

[BurtW]

Sure the consumption of electricity rises if btc hits 500 000-1 000 000 usd all of sudden. However, also the mining tech becomes better (more efficient) + there will be more supply for electricity.

More efficient miners just cause the difficulty to go up.  They do not affect the total power consumption of the network.

Power consumption is not a function of efficiency it is only a function of price and the other parameters shown in the formula given above due to the fundamental design parameters of a proof of work system.

More supply of electricity (at the same or a lower price over time)?  Really?  And nuclear power is going to be so cheap and efficient that they may even stop metering electricity, right?

[BitMaxz]

Honestly its huge amount value for bitcoin but why not we don't know what will happen in the the future and maybe this price will hit soon or after 20 years.. But i still not convince that the price will hit in that value.. in my speculation the price will be 5k-10k value this is i think can be possible that your speculation..

[Tippingcoin]

Perhaps if there are let's say 100 people starting 10-50 different digital businesses/person that accept btc as the only choice of payment it is possible, and they only accumulate coins, never sell them.

I'm gonna go ahead and assume that those bitcoin businesses sell what all bitcoin businesses sell: hopes and dreams. While the industrial moguls live in Mom's basements, eating Mom's food.
Because ordinary businesses have expenses: overheads, salaries, restocking merchandise, taxes, etc., etc. Which necessitates spending.

You did not understand what I meant.
I talked about starting digital businesses, and sometimes they are cheap to build and you do not need expenses to run those. Running multiple web sites will not cost that much.
If one site generates on average BTC 1/day profit, then multiplying it by 50 you get 50 btc profit/day - and if there are 100 such entrepreneus, they lock BTC 5000 /day to their cold storages. Eventually the price has to rise.

A "digital businesses" that's "cheap to build and you do not need expenses to run," and "generates on average BTC 1/day profit"?
I'm gonna go ahead and assume you mean a cut&run ponzi site?
You do know that most internet gambling sites [with employees and stuff] don't generate 1 BTC($650)/day, right?
Pro tip: there's no free money out there, the streets aren't really paved with gold, there's no "passive income," and there''s no free lunch.

Half of the people in the world live on less than ~$2.50/day.
Let that sink in.
That's 260 times less than your free money machine  "digital businesses" that's "cheap to build and you do not need expenses to run" makes in a day.

TL;DR: you ought to get out more often, breathe some fresh air.

Merchants that instadump the bitcoins will be no good for btc (except indirectly perhaps with visibility).

Merchants got to eat, feed and clothe their kids, have a place to poop & sleep, and to restock their shelves, so's they'd have something to sell. All that costs money, so they spend. Life is a bitch like that.

The value of btc lies only on the holding of it, not using it as a payment token.

If BTC is not used as a currency (you know, money that's actually used to buy things), it is useless: no different than baseball cards or Beanie Babies.

[OrangeII]

well, that is a huge figure for the current bitcoin. and I think this is never possible. I think the price is too exaggerated, look at the current price of bitcoin has not even passed the $ 800 price. even in the future. although this happens, I think it takes more than a dozen years, so bitcoin can have a price of 1 million dollars

[KingdomHearts]

 i think it is possible , if all people invest their all money in bitcoin, then i hope so that 1 bitcoin will be equal to $1,000,000 . but it will be take a long time for it happen .

[TrueCryptonaire]

Perhaps if there are let's say 100 people starting 10-50 different digital businesses/person that accept btc as the only choice of payment it is possible, and they only accumulate coins, never sell them.

I'm gonna go ahead and assume that those bitcoin businesses sell what all bitcoin businesses sell: hopes and dreams. While the industrial moguls live in Mom's basements, eating Mom's food.
Because ordinary businesses have expenses: overheads, salaries, restocking merchandise, taxes, etc., etc. Which necessitates spending.

You did not understand what I meant.
I talked about starting digital businesses, and sometimes they are cheap to build and you do not need expenses to run those. Running multiple web sites will not cost that much.
If one site generates on average BTC 1/day profit, then multiplying it by 50 you get 50 btc profit/day - and if there are 100 such entrepreneus, they lock BTC 5000 /day to their cold storages. Eventually the price has to rise.

A "digital businesses" that's "cheap to build and you do not need expenses to run," and "generates on average BTC 1/day profit"?
I'm gonna go ahead and assume you mean a cut&run ponzi site?
You do know that most internet gambling sites [with employees and stuff] don't generate 1 BTC($650)/day, right?
Pro tip: there's no free money out there, the streets aren't really paved with gold, there's no "passive income," and there''s no free lunch.

Half of the people in the world live on less than ~$2.50/day.
Let that sink in.
That's 260 times less than your free money machine  "digital businesses" that's "cheap to build and you do not need expenses to run" makes in a day.

TL;DR: you ought to get out more often, breathe some fresh air.

Merchants that instadump the bitcoins will be no good for btc (except indirectly perhaps with visibility).

Merchants got to eat, feed and clothe their kids, have a place to poop & sleep, and to restock their shelves, so's they'd have something to sell. All that costs money, so they spend. Life is a bitch like that.

The value of btc lies only on the holding of it, not using it as a payment token.

If BTC is not used as a currency (you know, money that's actually used to buy things), it is useless: no different than baseball cards or Beanie Babies.

Internet is full of gambling sites. Try to figure out something else. Think a little bit outside of the box, and do not go to the save alternatives.
Opportunities are infinite, but most people simply are like you: "It cannot be done, therefore it is better not to try". Those people end up being paid slaves for the rest of their lives, which makes their statement "there are no passive income opportunities" true to themselves like self fulfilling prophecy.

There is no limit for ideas and innovations. The opportunities are endless. Personally I am in the position I do not have to work for my living, my tenants pay all the bills. Still, I work a little bit for social reasons + for having routines.

[TrueCryptonaire]

i think it is possible , if all people invest their all money in bitcoin, then i hope so that 1 bitcoin will be equal to $1,000,000 . but it will be take a long time for it happen .

If all the people go all in btc, it will be significiantly more expensive than 1 million. Just make some simple arithmetics and you will figure out. Especially, every day coins get lost and therefore out from circulation.
At some point the loss of coins is higher than the inflation.

[Tippingcoin]

Perhaps if there are let's say 100 people starting 10-50 different digital businesses/person that accept btc as the only choice of payment it is possible, and they only accumulate coins, never sell them.

I'm gonna go ahead and assume that those bitcoin businesses sell what all bitcoin businesses sell: hopes and dreams. While the industrial moguls live in Mom's basements, eating Mom's food.
Because ordinary businesses have expenses: overheads, salaries, restocking merchandise, taxes, etc., etc. Which necessitates spending.

You did not understand what I meant.
I talked about starting digital businesses, and sometimes they are cheap to build and you do not need expenses to run those. Running multiple web sites will not cost that much.
If one site generates on average BTC 1/day profit, then multiplying it by 50 you get 50 btc profit/day - and if there are 100 such entrepreneus, they lock BTC 5000 /day to their cold storages. Eventually the price has to rise.

A "digital businesses" that's "cheap to build and you do not need expenses to run," and "generates on average BTC 1/day profit"?
I'm gonna go ahead and assume you mean a cut&run ponzi site?
You do know that most internet gambling sites [with employees and stuff] don't generate 1 BTC($650)/day, right?
Pro tip: there's no free money out there, the streets aren't really paved with gold, there's no "passive income," and there''s no free lunch.

Half of the people in the world live on less than ~$2.50/day.
Let that sink in.
That's 260 times less than your free money machine  "digital businesses" that's "cheap to build and you do not need expenses to run" makes in a day.

TL;DR: you ought to get out more often, breathe some fresh air.

Merchants that instadump the bitcoins will be no good for btc (except indirectly perhaps with visibility).

Merchants got to eat, feed and clothe their kids, have a place to poop & sleep, and to restock their shelves, so's they'd have something to sell. All that costs money, so they spend. Life is a bitch like that.

The value of btc lies only on the holding of it, not using it as a payment token.

If BTC is not used as a currency (you know, money that's actually used to buy things), it is useless: no different than baseball cards or Beanie Babies.

Internet is full of gambling sites. Try to figure out something else. Think a little bit outside of the box, and do not go to the save alternatives.
Opportunities are infinite, but most people simply are like you: "It cannot be done, therefore it is better not to try". Those people end up being paid slaves for the rest of their lives, which makes their statement "there are no passive income opportunities" true to themselves like self fulfilling prophecy.

I'm gonna go ahead and assume that you, being an "outside of the box" thinker, already have many free money machines  "digital businesses" that are "cheap to build and you do not need expenses to run"?
How many?
Links?

[Bitcoinbro]

I think that it would be a great thing if the price is that high but to be honest I do not think that it is going to happen.
Allot of users and holders would sell there Bitcoin way before the price is even close to a million.

[chaosknight]

I think that it would be a great thing if the price is that high but to be honest I do not think that it is going to happen.
Allot of users and holders would sell there Bitcoin way before the price is even close to a million.

Yeah and people will not their coins that long and I am pretty sure people will sell all their coins even if it touches to $5k and 1m price is very difficult to achieve.

[Tippingcoin]

I think that it would be a great thing if the price is that high but to be honest I do not think that it is going to happen.
Allot of users and holders would sell there Bitcoin way before the price is even close to a million.

Yeah and people will not their coins that long and I am pretty sure people will sell all their coins even if it touches to $5k and 1m price is very difficult to achieve.

But it don't have to be like that. Here's My Simple Plan:
1. Create a "digital businesses" that's "cheap to build and you do not need expenses to run," which "generates on average BTC 1/day profit."
2. Multiply by 50
3. Spend none of this passive 50BTC ($33,000 US)/day income. Ever. Forget that you're making 33 grand a day.
4. Get 100 other people to do same.
5. ? ? ?
6 PROFIT.

[x4]

1 Bitcoin = $1,000,000 USD
21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

If this happen most all of us here in the forum community will be come rich and most probably the 10 btc holder will be one of richest man in the globe because of bitcoin

[TrueCryptonaire]

I think that it would be a great thing if the price is that high but to be honest I do not think that it is going to happen.
Allot of users and holders would sell there Bitcoin way before the price is even close to a million.

Yeah and people will not their coins that long and I am pretty sure people will sell all their coins even if it touches to $5k and 1m price is very difficult to achieve.

But it don't have to be like that. Here's My Simple Plan:
1. Create a "digital businesses" that's "cheap to build and you do not need expenses to run," which "generates on average BTC 1/day profit."
2. Multiply by 50
3. Spend none of this passive 50BTC ($33,000 US)/day income. Ever. Forget that you're making 33 grand a day.
4. Get 100 other people to do same.
5. ? ? ?
6 PROFIT.

+1

Sounds  very good plan IMO.

[skyway1]

if all people invest their all money in bitcoin then make a chance to 1 bitcoin = $1,000,000 or it will be take too much longer time , i think after 20 years will bitcoin have a chance to hit $1,000,000 .

[Tippingcoin]

I think that it would be a great thing if the price is that high but to be honest I do not think that it is going to happen.
Allot of users and holders would sell there Bitcoin way before the price is even close to a million.

Yeah and people will not their coins that long and I am pretty sure people will sell all their coins even if it touches to $5k and 1m price is very difficult to achieve.

But it don't have to be like that. Here's My Simple Plan:
1. Create a "digital businesses" that's "cheap to build and you do not need expenses to run," which "generates on average BTC 1/day profit."
2. Multiply by 50
3. Spend none of this passive 50BTC ($33,000 US)/day income. Ever. Forget that you're making 33 grand a day.
4. Get 100 other people to do same.
5. ? ? ?
6 PROFIT.

+1

Sounds  very good plan IMO.

Hitch number one:
coming up with a "digital businesses" that's "cheap to build and you do not need expenses to run," which "generates on average BTC 1/day profit" AND could be replicated x50 without losing value.

Hitch number two:
if I managed to overcome hitch number one, and discovered a "digital businesses" that's "cheap to build and you do not need expenses to run," which "generates on average BTC 1/day profit" and is easily scalable, I don't care how much BTC is worth. 33 grand a day not enough for me to live on? I'll just create another 50 iterations of my free money machine.

But you are trolling, correct? I refuse to believe that God, in all His wisdom, made a creature who thinks like you.

[takingthis4]

i think it is possible , if all people invest their all money in bitcoin, then i hope so that 1 bitcoin will be equal to $1,000,000 . but it will be take a long time for it happen .

if everything would be changed with bitcoins then i think bitcoins would be worth like 3 million dollars according to all the calculations, i hope this will happen some time in the future

[Osarman]

1 Bitcoin to $1,000,000 i hope it take a century take too long time and its possible if all people of the world invest their all money in bitcoin then i hope that bitcoin rise its price to $1,000,000 soon in the future .

[Posum578]

i think it is possible , if all people invest their all money in bitcoin, then i hope so that 1 bitcoin will be equal to $1,000,000 . but it will be take a long time for it happen .

if everything would be changed with bitcoins then i think bitcoins would be worth like 3 million dollars according to all the calculations, i hope this will happen some time in the future

It will take very long time to happen, maybe bitcoin must be word currency first also america go bankrupt for make $ not have value
At now rate in preev is $679 it still need 1473 times to go $1m. Also people who hold it will dump it before it reach that price

[starboyshuvo]

1 Bitcoin = $1,000,000 USD
21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

Not possible in my life !

[fkvidar]

i think it is possible , if all people invest their all money in bitcoin, then i hope so that 1 bitcoin will be equal to $1,000,000 . but it will be take a long time for it happen .

if everything would be changed with bitcoins then i think bitcoins would be worth like 3 million dollars according to all the calculations, i hope this will happen some time in the future

It will take very long time to happen, maybe bitcoin must be word currency first also america go bankrupt for make $ not have value
At now rate in preev is $679 it still need 1473 times to go $1m. Also people who hold it will dump it before it reach that price

I don't think that people have patience to hold their coins till it reaches to that high value and to be honest I don't fell that bitcoin can ever achieve that high price in future.

[phreaky]

I hope bitcoin up to $1000.000 lol
But its possibility

Not sure if it is possible so I am not going to get my hopes up for this but it would be nice if it happened.
Much can happen with Bitcoin so I hope that it can last that long.

[SanjaPaulina]

I think that 1 bitcoin will not be worth million of $ per piece after 20 years because as we see now bitcoin prize grow is very slow so if bitcoin want to to worth million USD per piece in 20 years it must grow much faster then right now.I think bitcoin will worth about 100000-250000$ after 20 years.

[TrueCryptonaire]

Are you predicting here the growth rate of upcoming decades based on the growth rate of past 2 weeks? 

[tampazeus]

I hope bitcoin up to $1000.000 lol
But its possibility

Not sure if it is possible so I am not going to get my hopes up for this but it would be nice if it happened.
Much can happen with Bitcoin so I hope that it can last that long.

Yeah we want that bitcoin should last for a very long time even if price is not that high it can be managed as everyone is hoping to take benefits from bitcoin to the fullest, so its existence is more important then its price.

[mrhelpful]

If the price holds $800ish zone for 1 month or more I`ll be happy.

Then that can eventually start the trend towards $1k or higher to become eventually the new average. As for the $1 mill comment in 20 years.. thats still a awful load of time for anyone.. and anything can happen before then.

[subham1]

If the price holds $800ish zone for 1 month or more I`ll be happy.

Then that can eventually start the trend towards $1k or higher to become eventually the new average. As for the $1 mill comment in 20 years.. thats still a awful load of time for anyone.. and anything can happen before then.

Yes right sir we cannot predict anything what will happen after 20 years its a really long time any any thing could happen we should only think about 1 or 2 years from now on..

[mark coins]

If the price holds $800ish zone for 1 month or more I`ll be happy.

Then that can eventually start the trend towards $1k or higher to become eventually the new average. As for the $1 mill comment in 20 years.. thats still a awful load of time for anyone.. and anything can happen before then.

Yes right sir we cannot predict anything what will happen after 20 years its a really long time any any thing could happen we should only think about 1 or 2 years from now on..

I don't understand why people prefer to hold bitcoin for a long term as no is aware about the future of bitcoin so holding bitcoin too long can be risky its better to keep on earning profits regularly.

[BurtW]

I don't understand why people prefer to hold bitcoin for a long term as no is aware about the future of bitcoin so holding bitcoin too long can be risky its better to keep on earning profits regularly.

How, specifically, do you "keep on earning profits regularly"?

[outatime1]

That's very ambitious and I hope by the time I retire that it's true. Think of the early birds that have hundreds of bitcoins and are still holding. They would be close to billionaires in that scenario.

[maku]

I am terrorized by that though that bitcoin one day might indeed be worth 1 million. I am worried now that if I sell even 0.1 BTC now in the future this might be amazing fortune.
Just the thought of that Pizza Transaction for 10k BTC  is making me uneasy. What do you guys recommend? Don't worry about it now and sell, or wait?

[ASHLIUSZ]

I don't understand why people prefer to hold bitcoin for a long term as no is aware about the future of bitcoin so holding bitcoin too long can be risky its better to keep on earning profits regularly.

How, specifically, do you "keep on earning profits regularly"?

We can't earn profits regularly, don't hold on the coins for very long term as we cannot predict what will happen after 10 0r 20  years. Make your profits adequately  once you get good amount.

[Ardenyham]

I hope bitcoin up to $1000.000 lol
But its possibility

Not sure if it is possible so I am not going to get my hopes up for this but it would be nice if it happened.
Much can happen with Bitcoin so I hope that it can last that long.

this price is too much for bitcoin. first let bitcoin to reach 1000$. the bitcoin price is not even 800$ and you guys are talking about 1 million.
if by chance it happen then I am sure it will take may be 100 years. As I am seeing the exist bitcoin price chart I can say that it will not happen or happen after so long.
so don't expect what you don't know that is possible or not. and ride with the running wave. bitcoin is great coin and the exist price is also ideal price for traders. so do work and earn bitcoins.

[phreaky]

1 Bitcoin = $1,000,000 USD
21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

When will it happen?.. 

I know that this is not going to happen because allot of people will sell there coins before the price is that high trust me because I would do the same thing.
If the price reached $100,000 most people are going to already sell I am sure of that.

[TrueCryptonaire]

1 Bitcoin = $1,000,000 USD
21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

When will it happen?.. 

I know that this is not going to happen because allot of people will sell there coins before the price is that high trust me because I would do the same thing.
If the price reached $100,000 most people are going to already sell I am sure of that.

I have been reading this forum and the general sentiment is to sell coins at 800 usd. The next selling wave is somewhere between 1000-10 000 usd. When btc is worth 10 000 the owners probably have on average 0.1 or less coins (a holder of 1 btc is considered a big holder).
Therefore, when the price approaches to 100 000 usd each, the majority of trading is done with fractional bitcoins. If you are able to hold let's say 21 bitcoin you will belong to the top 1000 000 bitcoin holders for sure.

[aoihs00]

21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

Yes maybe one day but probably dollars will be a worthless coin.
There is a strong inflation every despite despite oil price is decreasing

[TrueCryptonaire]

21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

Yes maybe one day but probably dollars will be a worthless coin.
There is a strong inflation every despite despite oil price is decreasing

Sir, what is the market cap of USD?

[dinda22]

Some people are waiting for the price to be one million Dollar per Bitcoin but I know that the price is not going to be that high. We have to stay realistic here because if not you are just going to be blinded.

although the price of bitcoin is always make a surprise, like this time rising very high. but keep that $1 million is not realistic.
but $5-10k it is still possible to achieve, although it takes a long time.

If the $5,000 is achieved in 2-3 years, I think it is very healthy. If we achieve that in a year, there is a big bubble.

$5k within 2-3 years look realistic. but in reality it would be difficult to achieve in a short time.

we have problems like this time, where the price of bitcoin already 3 years harder back to reach $1,000.
even halving the previously predicted will make the price rises to $1,000, did not bring much change in the price.

[praprata]

I hope bitcoin up to $1000.000 lol
But its possibility

It would be really something if the price was that high and people are really hoping that this is going to happen in the future, I am not hoping for this.
I do not believe that it will happen because to many people would become able to be a millionaire then that is seems impossible.

[dezoel]

I hope bitcoin up to $1000.000 lol
But its possibility

It would be really something if the price was that high and people are really hoping that this is going to happen in the future, I am not hoping for this.
I do not believe that it will happen because to many people would become able to be a millionaire then that is seems impossible.

That is not an realistic value to achieve as that price is too high to expect and I don't think that bitcoin will reach to that high price ever in future.

[trickshot22]

Are you predicting here the growth rate of upcoming decades based on the growth rate of past 2 weeks? 

well i think that in like 2 decades such price will definitely be possible because bitcoin is going to change the world for sure as it is a really great technology, i hope it will make me money

[TrueCryptonaire]

Are you predicting here the growth rate of upcoming decades based on the growth rate of past 2 weeks? 

well i think that in like 2 decades such price will definitely be possible because bitcoin is going to change the world for sure as it is a really great technology, i hope it will make me money

I think the ride from 650 - 100 000 usd will happen in coming years but at that point Bitcoin will be pretty well known and pumped by the mainstream media that many people have mortgaged their houses and are all in bitcoin. Then they will be able to spend bitcoins in restaurants. Salaries will be paid in bitcoins and one doesn't need to convert bitcoins to usd to buy something but use bitcoin directly. When 100 000 usd will hold permanently the next rise to 1 million probably will take longer as there are not that many people adopting it but the growth in purchasing power has to originate from real economic growth.

[angaper]

Of course the bitcoin never will achieve that price because the multiple factors required to see that drastic increase looks almost impossible to be achieved. I have read some interesting analysis that predict that the highest achievable price is around $1300, and any other price above that level would be mere speculation, an unsustainable pump.

[ironm@n]

Great prediction, you can now build an app lol

[yudy]

nice iam very happy is one bitcoin prince 1 milion dollar
but you must ready if you fee send bitcoin miniumum 10k satoshi , equal you fee send one thousand dollar $1000
youre ready freind is every send bitcoin your lost money minimum one thousand dollar i can only smile

[bitstealth]

Anybody knows when this will happen? when 1 Bitcoin will make us Millionaire, in fact nobody has the answer, it is just like to keep dreaming with open eyes, maybe in the next Century our grand child will see that price.

[X7]

ah yes the dream, that would be a nice day indeed

[Mr. Big]

Anybody knows when this will happen? when 1 Bitcoin will make us Millionaire, in fact nobody has the answer, it is just like to keep dreaming with open eyes, maybe in the next Century our grand child will see that price.

I think  if after a century it reached that price, then we will be talking about satoshis when dealing with someone or when buying and selling... Imagine $1dollars will almost be equal to 1 satoshi  if it happens to pass 1 million dollar per bitcoin..  .

[grim007]

not gonna happen. it will possibly happened when all banks all over the world will be bankrupt because of war. and the only currency left is bitcoin.

[Fidemoga]

not gonna happen. it will possibly happened when all banks all over the world will be bankrupt because of war. and the only currency left is bitcoin.

I think that will happen in 30 to 50 years. If the dollar devalues faster, it will take much short period to get that.

[coin_gambler]

Great prediction, you can now build an app lol

what app? i think it is really possible that the price of the bitcoin is going to go up pretty soon, in my opinion we will be able to make such price to something like 30 years

[ASHLIUSZ]

Great prediction, you can now build an app lol

what app? i think it is really possible that the price of the bitcoin is going to go up pretty soon, in my opinion we will be able to make such price to something like 30 years

It is never going to happen in 30 year, really it is only a day dream. May be the next generation people experience this price value.

[Kidsgarter]

Great prediction, you can now build an app lol

what app? i think it is really possible that the price of the bitcoin is going to go up pretty soon, in my opinion we will be able to make such price to something like 30 years

It is never going to happen in 30 year, really it is only a day dream. May be the next generation people experience this price value.

When 1% of the world population use the bitcoin actively and have one transaction per day, the price will be over $1million.

[takingthis4]

ah yes the dream, that would be a nice day indeed

i cannot agree with you to be honest, in my opinion it is really possible that the price is going to grow to a one million dollar price in like a decade

[ImHash]

If you want to sit back in hopes of those prices then  you probably never see them.

[w00t]

You guys are unbelievable - "it's impossible", "maybe our grandchildren will see 1 Million per BTC" what a bunch of cry babies and ignorants:

• Every single week I hear news that we are moving towards the cashless society. As far as I know the closest thing to cash is not gold or silver it's BTC for it's perfect divisibility and ease of transportation.
• With negative interests already in place in more and more countries the only way how to escape this extra tax in place is through cash, cash is about to be banned - see point #1
• USD M0 supply (M0 = bank notes and coins) is about 4 trillion USD, 1 million BTC is lost (or at least will never be traded) -> 4 trillion/20million and there you go 200k USD per 1 BTC is now easy. This is USD only, imagine if they go "cashless" in EU or some another country, you're easily at 500k USD per 1 BTC.
• A lot people is storing value in gold, valuing it close to 8 Trillion USD total as of today, simply because they don't know any better or are "scared" of anything else. Do your own calculation but speculating half of it will go to BTC there is another 4 Trillion market cap for you (+200k USD per 1BTC value). Once the ice will start moving and we go "cashless" gold can be easily pumped to 20 Trillion before they realize that they bet on the wrong horse.

Feel free to say I'm wrong, but say why I'm wrong. If you say "it's not possible" without giving a reason you look silly to say the least.

Edit: To make my prediction complete - I expect all this happen before year 2030 (going cashless). Therefore predicting 1BTC to be worth 1 Million USD (in today's prices) in next 14 years or less.

Sources:
http://www.tradingeconomics.com/united-states/money-supply-m0
http://onlygold.com/Info/All-The-Gold-In-The-World.asp

[funbarrel]

If you want to sit back in hopes of those prices then  you probably never see them.

or they will just come when bitcoins will be replacing the currencies other countries have right now and i think it will be definitely possible we just need patience

[Bitmore]

If you want to sit back in hopes of those prices then  you probably never see them.

or they will just come when bitcoins will be replacing the currencies other countries have right now and i think it will be definitely possible we just need patience

Maybe not so distant of a prospect as you might imagine.  Some would put it at late September...


http://investmentwatchblog.com/how-deutsche-banks-35trillion-of-trades-puts-europe-in-peril-warnings-that-failure-could-bring-global-system-crashing-down/

[crairezx20]

If you want to sit back in hopes of those prices then  you probably never see them.

or they will just come when bitcoins will be replacing the currencies other countries have right now and i think it will be definitely possible we just need patience

Well i think we dont know what will happen in the future because the price of bitcoin is unpredictable it can be happen in the future but in other currency i think INR or indian currency or yen japan currency..

[potatopower]

ah yes the dream, that would be a nice day indeed

of course that would be a really great thing and i think that then a lot of people from the whole world would be using it

such growth would allow me to make some good money, in my opinion it will be really possible in a few years because bitcoin will change the world

[PsursV]

just kidding and nothing else. how can it be possible that bitcoin will reach to such a high value. and how will people be able to buy it. if the price is getting high from the reach of the people then how will they buy it? i think in 2020 it will hardly reach to 2500 USD.

[w00t]

just kidding and nothing else. how can it be possible that bitcoin will reach to such a high value. and how will people be able to buy it. if the price is getting high from the reach of the people then how will they buy it? i think in 2020 it will hardly reach to 2500 USD.

How can people afford a kilo of gold? (42 720 USD per kilo as of now) Or how about a ton of gold? Same logic, people will not buy a kilogram (1 BTC) but they will buy a 1 mBTC (1000 USD if 1 whole BTC is 1 million USD) which is like buying 1 gram of gold, same proportions.

[Meuh6879]

Of course the bitcoin never will achieve that price because the multiple factors required to see that drastic increase looks almost impossible to be achieved.

1 USD, it's impossible, Bitcoin is dead !
10 USD, it's impossible, Bitcoin is dead !
100 USD, it's impossible, Bitcoin is dead !
1000 USD, it's impossible, Bitcoin ...







Reality :

[pearl11]

1 Bitcoin = $1,000,000 USD
21 Million Bitcoins = $21,000,000,000,000 ($21 Trillion USD)

If iwill save 80btc ,i will be a millionaire someday.
It will only happen to achieve that price in our dreams,but in reality it will not. Maybe 5000$ is the maximum of btc.

[Javi_Anibarro]

who knows, or it go to 1 cent XD

[LFC_Bitcoin]

1 million USD valued bitcoin's. It's a dream for us but not really a reality, not in our lifetime any way.
Maybe our great great grandchildren could see that value if you put some bitcoin's in cold storage for them, maybe.