What will happen if the bitcoin economy goes to 500.000.000?

[Neyo]

My guess is that if this happened, bitcoin would be all over the mainstream media, because then everybody would have to take it seriously. With 6M bitcoins you would need a price of 83, and with 7M you would need a price of 71,5 to create a 500M economy.

[Vladimir]

give it a month or two

[hugolp]

give it a month or two

[Findeton]

500 million is not a round enough number. Let it be 1 Billion dollars of market cap, then it will be a good piece of news.

First it will reach 100$/btc, that would generate some news and then when it hits the 150$/btc news will tell that bitcoin's worth 1 billion dollars.

[AntiVigilante]

When it hits $250M, I suggest we make moves to start the backup net. Or buy a few companies that lay down internet tubes.

Something. Get bitcoin some way to weather software and hardware issues. We will face opposition. No doubt about it.

[bitoption]

A fundamental issue is that in the crowd that has 100k+ bitcoins, they don't seem to be making serious moves to help encourage and stabilize the economy as far as I can tell.

At some point, they will need to, since they won't be able to get rid of their $25-$50M quickly, and won't want to. Until then, though, we are still waiting and seeing what sort of people our new BTC overlords are.

[Findeton]

A fundamental issue is that in the crowd that has 100k+ bitcoins, they don't seem to be making serious moves to help encourage and stabilize the economy as far as I can tell.

At some point, they will need to, since they won't be able to get rid of their $25-$50M quickly, and won't want to. Until then, though, we are still waiting and seeing what sort of people our new BTC overlords are.

I have an idea to solve that. I'll explain it in 2-3 weeks.

[newunit16]

if BTC reaches 500m and nobody is accepting it as payment (aside from the niche market) i see it hitting 50m a few days after that.

[mewantsbitcoins]

if BTC reaches 500m and nobody is accepting it as payment (aside from the niche market) i see it hitting 50m a few days after that.

And I see dead people

[tehcodez]

if BTC reaches 500m and nobody is accepting it as payment (aside from the niche market) i see it hitting 50m a few days after that.

And I see dead people

Mr. Shyamalan has coins. Send them so he can be cured.