Bitcoin Heading to ONE MILLION DOLLARS

[calkob]

I agree that bitcoin at this point in time has a really bright future but i am slightly worried about the scaling issue.  i hope that can get sorted soon and we dont end up dragging it out for years on end.  I really hope that both parties have bitcoins best interest at heart and dont proceed in anyway that would damage bitcoin reputation.

[lionheart78]

Your prediction of always increasing demand can only become true if the transactions stay cheap and fast. Otherwise volume and thus demand will imo decrease as people, especially those sending small amounts, will choose faster and cheaper alternatives.

With the idea of Bitcoin ever increasing simply defeats the idea of cheap transaction.  Just imagine if we have a fix 10k satoshi fee and Bitcoin reach $100k dollar then we will have 10 dollar worth of Bitcoin for the transaction.  And it goes with the higher fee when Bitcoin increases.  Definitely developer would have to fix  this issue too.

I agree that bitcoin at this point in time has a really bright future but i am slightly worried about the scaling issue.  i hope that can get sorted soon and we dont end up dragging it out for years on end.  I really hope that both parties have bitcoins best interest at heart and dont proceed in anyway that would damage bitcoin reputation.

Definitely scaling will be fixed soon, we just need to have patience on this.

[maydna]

i believe that the price will be increase soon but we can not expecting when the time is coming as there are many thing that will happen in the market and in out there. so i think we can start from now to save more bitcoin in our wallet so we can sell it when the time is come. i think the cost for the transaction is no problem if we make big transaction because we still receive in big amount to so don't make this as a big problem and we should know that the fee is increase too depend on bitcoin price itself.

[Yakamoto]

Technically you're not wrong, but there are a lot more factors at play than just historical numbers and assumptions that can be made based off of numbers and predicted future performance.

There is a limited supply, yes, but it is doubtful that said limited supply will mean anything at current trading volumes; if volumes decrease then we can see higher valuations for Bitcoin. That has a lot of other factors to pay attention to. Mining bottom lines will not really have any effect either, since by 2024 it will be estimated at 2.4k/Bitcoin (going by a $600/Bitcoin cost baseline from the 2016 halving), meaning we hit about $10k/BTC in 2032.

$100k is believable within a realistic period of time, but $1m is completely unachievable for a long time (although it does get exponentially closer as the price goes up).

Speculation and trading also has to be accounted for. Never expect people to start overpaying.

[DomainMagnate]

If goings to be a long road for bitcoin to achieve even that $5k, they would have to dissolve those altcoins first mainly ETH, Monero and dash. I don't think we are ready to make BITcoin the number one when we've already invested to all these tokens and coins for several years and they all have significant values too.

I believe these coins help bitcoin appreciate in value.They compliment bitcoin and technically make up for the shortcomings that bitcoin have.
On a second thought if there were no single Altcoin or if all bitcoin disappear all of a sudden, bitcoin would surely go further up because of increase in demand.