$1 Trillion Bitcoin

[Geist]

I'm just curious how many people believe that bitcoin will reach the $1 trillion total value milestone or crash and burn before it gets even close or if it will be a cryptocurrency successor that does it instead.

Personally, I have a lot of faith in Bitcoin and that the Sky is the limit when it comes to how high the value can go. I mean, it's still very possible that bitcoin could fail, but another cryptocurrency will take it's place and we will eventually(read: decades, possibly centuries from now) replace all fiat everywhere. Cryptocurrency has been released from Pandora's Box and no matter how hard banks and governments may try to put it back in, it's here to stay.

What are you predictions? When do you think it will happen? If not bitcoin, are there any potential successors that could take up the mantle? Or why do you think Cryptocurrency is bound to fail?

[fingerpaint]

http://static.tvtropes.org/pmwiki/pub/images/derailed_train_455.jpg


I think it's inevitable that the value of all crypto-currencies combined will  far exceeed a 1 trillion dollar cap. Whether bitcoin does it will depend on how it fares against the competition over the next decade or two.

[Ares]

I think it's inevitable that the value of all crypto-currencies combined will  far exceeed a 1 trillion dollar cap. Whether bitcoin does it will depend on how it fares against the competition over the next decade or two.

Please stay on topic.


I'd be interested to see the statistics for the adoption of domestic vs foreign children in the US.

[notme]

I think it's inevitable that the value of all crypto-currencies combined will  far exceeed a 1 trillion dollar cap. Whether bitcoin does it will depend on how it fares against the competition over the next decade or two.

Please stay on topic.


I'd be interested to see the statistics for the adoption of domestic vs foreign children in the US.

If you really want to discuss adoption, please take it to the offtopic subforum and send me a pm. I regret mentioning that aspect of my life now since it has completely derailed this thread.

@OP

I think cryptopcurrencies are going to play a large role in the future of finances.  The keypairs and signing transactions part is exactly how digital banking has always worked, but now it is available to the masses instead of just the select few.  Bitcoin may or may not change the world, but I have no doubt that since the cat is now out of the bag cryptocurrencies will play a large roll in the future of economics.

[2Kool4Skewl]

I'm thinking it will be another cryptocurrency.  Imo, btc is just the beginning.

[anu]

I'm thinking it will be another cryptocurrency.  Imo, btc is just the beginning.

Bitcoin is close to developing real network effects. Once that happens, it is Bitcoin.

[Zaih]

Voted the 3rd option. I feel as if there's a lot to improve on Bitcoins, even if its issues we currently don't even know about. Someone will fix them and all other issues, and they'll take over. As someone said here, Bitcoin is a test.

With that being said, I'd be more than happy if it was Bitcoin that did it hehe

[Gordonium]

I'm thinking it will be another cryptocurrency.  Imo, btc is just the beginning.

Bitcoin is close to developing real network effects. Once that happens, it is Bitcoin.

+1

[Birdy]

I'm quite sure some crypto-currency will be the gobal money of the future.
It could be (an improved) Bitcoin, but there is still a chance that some competition can outdo it.

[rpietila]

It's gonna be bitcoin for sure. It cannot be stopped anymore, no way. I think it will reach $1M (per BTC) before Christmas this year, but the long-term value is not so high.

[massivebitman]

Meh, seriously what is so great about cryptocurrencies?

I put it to you that fiat has a long way to go, and after fiat there's no guarantee cryptos will take over

[Nikolaj06]

It's gonna be bitcoin for sure. It cannot be stopped anymore, no way. I think it will reach $1M (per BTC) before Christmas this year, but the long-term value is not so high.

Woah steady there cowboy..

I do not think bitcoin can handle that amount just yet. Sure it might look into 4 digits, but we need a lot wider availability and recognition before we can even talk about 6 let alone 7 digits.. Sure WU could be a big factor if they take the right measures, and I'm pretty sure that the bitcoin ATM will also have quite an impact. That being said, what makes you believe that it will hit the sky so soon? (I'm leaning towards high-end 6 digits in 5-10 years)

[rpietila]

It's gonna be bitcoin for sure. It cannot be stopped anymore, no way. I think it will reach $1M (per BTC) before Christmas this year, but the long-term value is not so high.

Woah steady there cowboy..

I do not think bitcoin can handle that amount just yet. Sure it might look into 4 digits, but we need a lot wider availability and recognition before we can even talk about 6 let alone 7 digits.. Sure WU could be a big factor if they take the right measures, and I'm pretty sure that the bitcoin ATM will also have quite an impact. That being said, what makes you believe that it will hit the sky so soon? (I'm leaning towards high-end 6 digits in 5-10 years)

Read this. All of it.

[w00t]

It's gonna be bitcoin for sure. It cannot be stopped anymore, no way. I think it will reach $1M (per BTC) before Christmas this year, but the long-term value is not so high.

Well I wouldn't be angry if it was, though I'd rather bet on a number like 10 thousand USD per 1 BTC at the time close to end of the year.

[bitcool]

Mother nature doesn't like singularity , that's why you don't see it,  ever .

[Piper67]

Mother nature doesn't like singularity , that's why you don't see it,  ever .

Actually, mother nature loves singularities, but I suspect we have a slightly different definition of what a singularity is.

[rpietila]

Just tell me, how (by what mechanism) can you stop all the money in the world from trying to enter into bitcoin in the following 7 months?

There are no bitcoins for sale, until the price is very high. There is only about 1.5MBTC in weak hands now. I will consider selling the bulk of mine at above $1M. I think that is substantially above the long term realistic value of $300k.

[Zangelbert Bingledack]

Mother nature doesn't like singularity , that's why you don't see it,  ever .

"Singularity" is a human term, referencing when exponential growth crosses significant human-scale thresholds.

For example, if a middle-class guy bought 100 BTC for $200 last year, exponential growth of his holdings even up to $20,000 has felt to him like "neat, but not a big deal."

However, if that exponential growth continues apace and his worth reaches $2,000,000 next year, suddenly it's life-changing. And then in another two years he's one of the richest men alive. It feels like a singularity, because even though the growth has followed the same exponent all along, it just recently passed the thresholds of his human scale that make a big difference for him.

[bitleif]

Mother nature doesn't like singularity , that's why you don't see it,  ever .

Except, um, black holes?

[rpietila]

"Singularity" is a human term, referencing when exponential growth crosses significant human-scale thresholds.

For example, if a middle-class guy bought 100 BTC for $200 last year, exponential growth of his holdings even up to $20,000 has felt to him like "neat, but not a big deal."

However, if that exponential growth continues apace and his worth reaches $2,000,000 next year, suddenly it's life-changing. And then in another two years he's one of the richest men alive. It feels like a singularity, because even though the growth has followed the same exponent all along, it just recently passed the thresholds of his human scale that make a big difference for him.

+1

I am already creating serious ripples, when I jetset around the town trying to corner all prime available office space since I know, the other bitcoin millionaires/HNWI:s will be after the same thing in as little as 30-60 days.

What you described, blokes suddenly being lifted to world class, is exactly the mechanism that will finish bitcoin's rise from <1,000 to >1,000,000 this year. It just cannot take any longer any more. This is not 2011.