Snapchat first investor thinks bitcoin could realistically be worth $500,000

[Dorky]

You are saying bitcoin can reach $500,000, as the snapchat investor said, that's 12 years from now according to his prediction.

So you are saying that in 12 years fees still will not be high enough to sell?

Who is the idiot that is going to sell before $500,000 regardless how prohibitive fees are?

Just my opinion, the most financially valid fee structure is the one where it is based on certain % of the transaction value involved.

For example, if transaction is $1,000, the fee will be $1.
And if transaction is $1,000,000, the fee will be $1,000.
0.1% in both cases.
Of course there will be a floor, like minimum fee per transaction, but it should not be outrageous, like minimum fee of $100.
Even then, the price of bitcoin per unit should commensurate with the fee charged.
If the minimum fee is $100, then the price of bitcoin should be $100,000, or something like that.
And that minimum fee of $100 will prompt people to spend in big amount.

Just my opinion.

[The_Dark_Knight]

I don't know about $500,000 in 14 years....

It means the Bitcoin goes up by $100USD (average) every single day for nearly 14 years, with no breaks like Christmas or Kwanzaa. Even the last 8 years, Bitcoin *only* did approx 50 cents per day to go from zero to $1200USD.

Even the highest stock Berkshire Hathaway only did $24 per day increase (average) sustained over 27 years. Bitcoin would have to be quadruple the performance of BRK.A

Did anything else ever go up this much over such a long period?

It is unlikely but many things could happen to make bitcoin get closer o that price for example hyperinflation may strike us in the next decade and if it does reaching that price may not be out of the question or we may even reach an even greater price.