Chandler Guo : "Bitcoin could reach 1 million dollar"

[xuan87]

I think that would be a wise idea to buy bitcoin even now with a current price of 1200$ for 1 coin. Better to change people mind about the whole idea of bitcoin and try to explain how it work and how you can buy a bitcoin via atm machines or some other ways

I like your spirit, but it is a bit risky, bitcoin still in development there will be a chance that bitcoin failed and you will lose your money, if you got an extra money to invest then bitcoin is the right platform, but putting your whole wealth and hoping it become 1 million dollar per bitcoin, still so far away

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[topesis]

I don't like putting value on Bitcoin because for me it is priceless, not many people in the world will have the opportunity to have 1BTC, I think Chandler is just during his normal promotion of Bitcoin

[magneto]

“But finally, I tell them, just go back and buy Bitcoin. A lot of people don’t have Bitcoin...Not too much. Only one is enough. If everyone would have just one, the Bitcoin value would go to $1 mln. When Bitcoin becomes $1 mln, the whole world would be crazy and everyone would love to follow and all the other digital currencies would just be the grandson of Bitcoin.”

You can see the video from a couple of days ago here : https://www.youtube.com/watch?v=Zh_mQl2B6es&feature=youtu.be (0:00 to 2:00 should be enough but you could continue)

But the problem is that his logic is flawed, didn't you notice?

If everyone had one bitcoin... Oh wait we only have 21 million bitcoins.

But sure, I think it is a great idea to start holding a bunch of bitcoins right now. It is a great hedge against fiat currencies just like gold and silver is. But it is easier to transfer across the globe so I think bitcoin is going to be more successful than something like precious metals(gold, silver, platinum, palladium).

If just 100,000 bought 1 bitcoin right now, that would drive up the price like crazy.

[JariKriting]

about bitcoin price until reach 1 million dollar every one bitcoin i think only joke, not serious analys
if true bitcoin price until reach one million dollar, bitcoin die, not people sending bitcoin again
because sending fee is expensive, example every send need 50k satoshi is equal 500 dollar,

[Format.C^]

I don't think that high price of bitcoin is possible to achieve and even if it does then there will be very people who would be holding their coins as most of the users will sell their coins even if it hits $5k in near future.

[Amph]

I don't think that high price of bitcoin is possible to achieve and even if it does then there will be very people who would be holding their coins as most of the users will sell their coins even if it hits $5k in near future.

not really true, a very high value of bitcoin mean that the distribution is spreading correctly, therefore i the value increase to 1M it mean that eveyrone is holding a fraction of bitcoin

which is better than what we have now with many guys holding 100k coins and other holding zero, bitcoin must increase in value to ensure that everyone will have some of it

[Schuyler]

Anything is possible, especially with bitcoin but I doubt if it can happen in a hundred years. I also doubt if bitcoin ever overtakes the price of a gold bar (which is currently priced at around half a million dollars). Gold took a long time to have that much value, so I guess the same or even longer can be said about bitcoin.

[The_Dark_Knight]

There are not enough bitcoins for every person to hold a bitcoin since the limit is 21 million coins and that is without counting the coins that have not been mined yet and the coins that have been lost, so if everyone was trying to get a bitcoin at the same time the price of it will skyrocket like we have not seen before.

[Pettuh4]

I don't think that high price of bitcoin is possible to achieve and even if it does then there will be very people who would be holding their coins as most of the users will sell their coins even if it hits $5k in near future.

That's true, even at $2000 I bet a lot of people would like to cash in on their bitcoins so holding until it reaches 1million$ will be difficult for a lot of us as we will be potential billionaires along the way and might want to cash in before it reached 1 mil$ per coin.

[The_Dark_Knight]

I don't think that high price of bitcoin is possible to achieve and even if it does then there will be very people who would be holding their coins as most of the users will sell their coins even if it hits $5k in near future.

That's true, even at $2000 I bet a lot of people would like to cash in on their bitcoins so holding until it reaches 1million$ will be difficult for a lot of us as we will be potential billionaires along the way and might want to cash in before it reached 1 mil$ per coin.

It is not as difficult if you think of it as a long term investment, if I could afford it I would buy ten bitcoin, write the day I bought them and the price at  which I did and then keep them in a safe for 20 years in the worst case scenario you lose money and time, but in the best scenario you could retire with that money.

[avikz]

I am not as optimistic as you and I can’t think of bitcoin price as 1 million dollar. That’s not even in my day dream. It is not technically possible unless a miracle happens. It may reach up to 10,000 USD in another 7-10 years but not more.

However, if it happens then the world will have a new group of wealthy elite who will have the power to change the world for better. Also probably that time governments across the world will have to adopt the crypto currency in to their eco system.

[Sithara007]

I am not as optimistic as you and I can’t think of bitcoin price as 1 million dollar. That’s not even in my day dream. It is not technically possible unless a miracle happens. It may reach up to 10,000 USD in another 7-10 years but not more.

Don't be sure about it, because Bitcoin is so unpredictable. In 2009, the exchange rate was around $0.001 per coin (in New Liberty Standard), and no one thought that it will rise by 100 times in just 2 years.

http://newlibertystandard.wikifoundry.com/page/2009+Exchange+Rate

And in 2011, no one thought that the exchange rates will increase from $0.1 per coin to $1,000 per coin in another 2 years (10,000 times).

[buharikx31]

I think that would be a wise idea to buy bitcoin even now with a current price of 1200$ for 1 coin. Better to change people mind about the whole idea of bitcoin and try to explain how it work and how you can buy a bitcoin via atm machines or some other ways

I like your spirit, but it is a bit risky, bitcoin still in development there will be a chance that bitcoin failed and you will lose your money, if you got an extra money to invest then bitcoin is the right platform, but putting your whole wealth and hoping it become 1 million dollar per bitcoin, still so far away

Yes, you are totally right. Better to invest some small % of your income to bitcoin. It would be too risky to spend all of your money on that. People need to know that bitcoin it's only a thing that you can earn something from it, to be crazy with it it's maybe not a wise idea at al

[Pangia]

I think that would be a wise idea to buy bitcoin even now with a current price of 1200$ for 1 coin. Better to change people mind about the whole idea of bitcoin and try to explain how it work and how you can buy a bitcoin via atm machines or some other ways

I like your spirit, but it is a bit risky, bitcoin still in development there will be a chance that bitcoin failed and you will lose your money, if you got an extra money to invest then bitcoin is the right platform, but putting your whole wealth and hoping it become 1 million dollar per bitcoin, still so far away

Yes, you are totally right. Better to invest some small % of your income to bitcoin. It would be too risky to spend all of your money on that. People need to know that bitcoin it's only a thing that you can earn something from it, to be crazy with it it's maybe not a wise idea at al

If you are investing all your money only in bitcoins then you are putting your money and your life at big risk as you never know what will be the price of bitcoins in future and whether it will be alive or not and if it dies or disappears then it will make you bankrupt in no time.

[Seccerius]

I think that would be a wise idea to buy bitcoin even now with a current price of 1200$ for 1 coin. Better to change people mind about the whole idea of bitcoin and try to explain how it work and how you can buy a bitcoin via atm machines or some other ways

I like your spirit, but it is a bit risky, bitcoin still in development there will be a chance that bitcoin failed and you will lose your money, if you got an extra money to invest then bitcoin is the right platform, but putting your whole wealth and hoping it become 1 million dollar per bitcoin, still so far away

Yes, you are totally right. Better to invest some small % of your income to bitcoin. It would be too risky to spend all of your money on that. People need to know that bitcoin it's only a thing that you can earn something from it, to be crazy with it it's maybe not a wise idea at al

If you are investing all your money only in bitcoins then you are putting your money and your life at big risk as you never know what will be the price of bitcoins in future and whether it will be alive or not and if it dies or disappears then it will make you bankrupt in no time.

Yes, it's silly to put all your money in one currency. After all, it can collapse at any moment and no one can accurately predict this, so smart people invest only a portion of the funds in bitcoin.

[VTCutch]

Technical analysis assumes that it is possible due to the trend in which bitcoin is on right now, but to be honest such figures would take tens of years—or wven a huge hyperinflation in the world market before it happens. It's not wrong to be optimistic but somehow we must remember how to be realistic.

I agree. Optimism is good, but it is realistic that bitcoin has reached such a price for more than one year and its popularity is needed all over the world.

[Pattberry]

I think that would be a wise idea to buy bitcoin even now with a current price of 1200$ for 1 coin. Better to change people mind about the whole idea of bitcoin and try to explain how it work and how you can buy a bitcoin via atm machines or some other ways

If you are planning for a profitable outcome you have to make sure that you enter at the right price ,as long as there is uncertainty regarding the scaling debate the price wont see yet another bubble so you could always get a chance to get the coin at a lower price ,always be smart when it comes to trading,after everything the price could bubble up from this current situation if everything settles well.

[U2]

Technical analysis assumes that it is possible due to the trend in which bitcoin is on right now, but to be honest such figures would take tens of years—or wven a huge hyperinflation in the world market before it happens. It's not wrong to be optimistic but somehow we must remember how to be realistic.

I agree. Optimism is good, but it is realistic that bitcoin has reached such a price for more than one year and its popularity is needed all over the world.

Ya, some random that I've never heard of say that bitcoins will reach $1million some day means nothing. It's worse than nothing, it's just stupidity. $1million at our current rate would be 40 years. The current rate won't hold steady forever.

[Sled]

This is possible for bitcoin to reach $1,000,000 price because we can just see as of now that a lot of different good things are happening just like adoptions and even getting more popularity for bitcoin and that what will be the fuel for our rocket to get up to the sky. There is no fixed price for bitcoin and it is almost getting always a pump price rather than dump so i believe that bitcoin could reach that very high price.

[Xester]

This is possible for bitcoin to reach $1,000,000 price because we can just see as of now that a lot of different good things are happening just like adoptions and even getting more popularity for bitcoin and that what will be the fuel for our rocket to get up to the sky. There is no fixed price for bitcoin and it is almost getting always a pump price rather than dump so i believe that bitcoin could reach that very high price.

More and more countries are adopting bitcoin and they are on the starting stage right now. But lets imagine if the country has already spread the use of bitcoin to almost half of its population that would be a crazy increase in bitcoins demand  which will lead into an increased value. We are going to hit a major increase in value by the end of this year.