Chandler Guo : "Bitcoin could reach 1 million dollar"

[DoublerHunter]

reading back through some of the comments here is interesting...

we'll never reach $1000, yet just months later we have sailed right through 1k.

10,000

100,000....

make it so!

That $10,000 price was too high for bitcoin. It is so expensive and it will make bitcoin exclusive to rich people because the poor people will no longer able to buy at least 1 bitcoin in that moment. But i think that is still possible for bitcoin to reach since we are just starting to invade the world and soon we will get in touch with $2,000 and after a few years we will experience $10,000 price .

[icecube45]

reading back through some of the comments here is interesting...

we'll never reach $1000, yet just months later we have sailed right through 1k.

10,000

100,000....

make it so!

Yes, bitcoin price is unpredictable. When last a lot of people who do not believe bitcoin price will reach $ 1,000 but now bitcoin could reach it. When now people do not believe bitcoin price could reach $ 1m maybe in the future it can be achieved, it is very unreasonable but we do not know in future. I actually do not believe, but with a limited number of bitcoin and more people are interested in using bitcoin, maybe it could happen. If that happens people can buy cars and even homes with 1 BTC. But if true, of course it is still a long time and now it is better to target the bitcoin price to $ 2,000.

[lionheart78]

reading back through some of the comments here is interesting...

we'll never reach $1000, yet just months later we have sailed right through 1k.

10,000

100,000....

make it so!

Different people look at the different part of time, most are just looking at the moment, some are weeks, months and years from now.  Anything that is speculated beyond the limit of our knowledge are all guesses.  Though I can say they may happen if and only if they met certain criteria or requirements.  That 1 million dollar Bitcoin is an speculation about the price when the majority of the world adopted bitcoin, disregarding competition and government interventions.

[Forester618]

Actually more interesting than his million dollar prediction is his assessment of the venture capital / banking scene around Bitcoin. In my opinion, Chandler Guo is a smart guy that (despite weak English) clearly knows what he's talking about. He's able to filter the noise and see the big picture. Besides that, I simply think he has a nice personality. One of the few strangers I would instantly drink a beer with...

His prediction might seem outlandish today. But if you compare it with the total amount of money and debt in circulation it's not unrealistic at all. However it is unclear within what time frame Bitcoin might reach such a valuation and whether the buying power of fiat currencies will be nearly the same as today when it happens.

ya.ya.yo!

Even today the miners do not want war. If war breaks exchanges, miners, mining pools, Bitcoin Classic, Unlimited Bitcoin, Bitcoin Core and other bitcoin companies , they will not be able to engage in mining and lose your money. They just want to keep it that way. If war breaks out and the price will crash, everyone will lose their money. Guo urged the key players to adhere to the Hong Kong agreement and instead start a real war, which can lead to the section of the blockchain, or even the appearance of two different coins (BTC and BTU), and to the collapse of the prices of both, to resolve this issue by agreement. He also suggested that if would still be able to reach some agreement, then the block can be increased to 1.2 MB without war and loss for all.

[Wapinter]

1mln per bitcoin?? maybe in the next 100 yrs were we all dead

we wont survive this...i think its impossible...1k $ or maybe 10k dollar per btc but not a million

Nothing is impossible.As the op says if each and every person on this world own just a small amount of btc,it will become scarce and you can't imagine where it price would be.

[raven7886]

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.”

There are only 16M bitcoins on circulations compared to 700M world populations hence buying just 0.001 bitcoins by half of world populations will be more than enough in rough calculations (why half ? we may need to consider about literacy/internet knowledge etc).

When people start buying one bitcoins, only few thousands people will be getting chances to buy at current price levels, after that they need to spend $10k or $100k for buying one bitcoins. So, in my understanding, BUYING/HOLDING ONE BITCOIN will not be possible for all human being of this earth.

Time frame is always important for any speculations. I believe bitcoin will reach 10M USD value too, but it will need more time like all 21M bitcoins to be mined out for that  

[Yanisumin]

As of now Bitcoin is not even 2000$ each, reaching 1 million dollars is kind of a fantasy but it might happen.

Imagine if we want Bitcoin as the world currency, to make it come true Bitcoin must have at least a million dollar value. Why? Because if Bitcoin only has let's just say 2000$ value and if we mined all bitcoins ( 21 million ).
21 million times 2000 = 42 billion
Even Bill Gates can buy all the bitcoins.
So in order to make it as a world currency it must have a higher value in order to provide all the currency needs of all people.

[Xester]

Actually more interesting than his million dollar prediction is his assessment of the venture capital / banking scene around Bitcoin. In my opinion, Chandler Guo is a smart guy that (despite weak English) clearly knows what he's talking about. He's able to filter the noise and see the big picture. Besides that, I simply think he has a nice personality. One of the few strangers I would instantly drink a beer with...

His prediction might seem outlandish today. But if you compare it with the total amount of money and debt in circulation it's not unrealistic at all. However it is unclear within what time frame Bitcoin might reach such a valuation and whether the buying power of fiat currencies will be nearly the same as today when it happens.

ya.ya.yo!

Even today the miners do not want war. If war breaks exchanges, miners, mining pools, Bitcoin Classic, Unlimited Bitcoin, Bitcoin Core and other bitcoin companies , they will not be able to engage in mining and lose your money. They just want to keep it that way. If war breaks out and the price will crash, everyone will lose their money. Guo urged the key players to adhere to the Hong Kong agreement and instead start a real war, which can lead to the section of the blockchain, or even the appearance of two different coins (BTC and BTU), and to the collapse of the prices of both, to resolve this issue by agreement. He also suggested that if would still be able to reach some agreement, then the block can be increased to 1.2 MB without war and loss for all.

Hopefully  Gou can convinced both parties to agree with the agreement so that the long conflicts will be put at ease. When that happens Gous prediction that bitcoin will reach 1 million dollars each will become a reality in the future. The only problem that is holding that dream right now is the conflict and internal problems in bitcoin that leads to possible split and price meltdown.

[Nagadota]

However much people hope for the price to go much higher, he's clearly wrong.

He says "if everyone owned one".  Well, I hate to break it to him, but there's only 21 million Bitcoin ever to be created and there are over 7 billion people in the world.

[Seansky]

However much people hope for the price to go much higher, he's clearly wrong.

He says "if everyone owned one".  Well, I hate to break it to him, but there's only 21 million Bitcoin ever to be created and there are over 7 billion people in the world.

Hehe your right and the 21 million bitcoin cap makes his statement everyone owning one impossible but it is possible one day that everyone will have some bitcoin at least if not 1 bitcoin then the one got less some got more bitcoin but it will be like fiat that way. I think that 1m$ per bitcoin is just to crazy for now but I won't say it is impossible. It is possible if it have been accepted by all and have been used as a currency like fiat but I don't think that will happen soon and it might not happen at all.

[webtricks]

However much people hope for the price to go much higher, he's clearly wrong.

He says "if everyone owned one".  Well, I hate to break it to him, but there's only 21 million Bitcoin ever to be created and there are over 7 billion people in the world.

After reading OP I exactly hit at this point. The basis of his study is 1 bitcoin owning by everyone which is quite unrealistic due to limited supply as well as high prices.
Howsoever, it is not unrealistic to expect Bitcoin reaching 1 million dollars. With continuous increased engagement of Bitcoin in economies across the world, it is not exaggeration to expect that. Since the similar factorn limited supply will work in this case too.

[gabmen]

“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)

Well that something to think about especially for us current btc holders. If it comes true then the wait would very well be worth it though im not sure how long we'll wait and if its even possible that everyone can have 1btc

[Ayers]

However much people hope for the price to go much higher, he's clearly wrong.

He says "if everyone owned one".  Well, I hate to break it to him, but there's only 21 million Bitcoin ever to be created and there are over 7 billion people in the world.

maybe he sound wrong with that statement but i think he mean that if everyone hold a portion of bitcoin, maybe not a full bitcoin but a smaller amount, for example 7 billion need 0.003 each one, but another point to note is that with all the coins that were lost you can need to divide even more to have everyone have his fair amount of coins

[xypos]

reading back through some of the comments here is interesting...

we'll never reach $1000, yet just months later we have sailed right through 1k.

10,000

100,000....

make it so!

Different people look at the different part of time, most are just looking at the moment, some are weeks, months and years from now.  Anything that is speculated beyond the limit of our knowledge are all guesses.  Though I can say they may happen if and only if they met certain criteria or requirements.  That 1 million dollar Bitcoin is an speculation about the price when the majority of the world adopted bitcoin, disregarding competition and government interventions.

Imagine 1 bitcoin for 1,000,000$ USD.
Its not possible for god's sake, unless the inflation on USD would get so high
Bitcoin isn't so limited that it might cost so much, we would need an extremely big group of people that adopted bitcoin to their everyday life, they would need to use only that currency.

Bitcoin world is unpredictable for sure, but I meet people like this everyday.
The difference between them is that one says bitcoin will reach 10,000$ and another one is completely sure that bitcoin will achieve price of 1 billion dollars.
Its like a fairytale, stop spreading that kind of bullshit and start making real analysis instead of guessing the price in next 10 years.

[BrewMaster]

Imagine 1 bitcoin for 1,000,000$ USD.
Its not possible for god's sake

why is it so hard to imagine that, or think it is possible?
you know that 8 years ago bitcoin was literary worthless. i was worth 0 dollar, literary. then for a year or so it was worth less than a dollar. and then $1 and then $10 and then $100 and now we are sitting above $1000.

and you know what, if you look back at comments during the $10 or so price, people said the same thing. that $1000 is not possible.

[manselr]

I would love to see 1 million dollar per bitcoin, but we need segwit and lightning network for that. Also I can't take Chandler Guo seriously. He talks as if he has brain damage or something.

[Snorek]

reading back through some of the comments here is interesting...

we'll never reach $1000, yet just months later we have sailed right through 1k.

10,000

100,000....

make it so!

That $10,000 price was too high for bitcoin. It is so expensive and it will make bitcoin exclusive to rich people because the poor people will no longer able to buy at least 1 bitcoin in that moment. But i think that is still possible for bitcoin to reach since we are just starting to invade the world and soon we will get in touch with $2,000 and after a few years we will experience $10,000 price .

Who said that we need to own at least 1 full bitcoin? For what, to brag about it? As long as you own any fracture of the Bitcoin is fine, you don't need whole BTC for anything.
Secondly, why $1000 is perfectly fine price for BTC now and where is the price limit for a 'good price'? Is there even something like that with BTC?
Bitcoin is by many experts believed to be undervalued, taking into account its utility: currency, ultimate database, and features i.e. to be used as identity/ownership verification tool.

[dothebeats]

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.

[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

[kynaz]

“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)

the valuable of bitcoin is depend on "China" if you read the news, It's up and down in a short time just all because about some rich guys , who holding a lots of bitcoin in China , selling or buying with a big amount. So i think you can become a rich man if you can speak chinese. haha