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bamboylee
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June 30, 2017, 05:29:10 PM |
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I say do not overthink it. It will come when it comes. You cannot totally deny that this is possible. There is a chance that this can come true if bitcoin adopts well in the needs of the time or if it scales.
Do not pin your hope that you will become a millionaire someday because you hold bitcoin today.
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"Bitcoin: the cutting edge of begging technology." -- Giraffe.BTC
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Juggy777
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June 30, 2017, 05:38:07 PM |
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Some said it will. What do you think?
(The estimated 2017 GDP in the US is $19.4 trillions. If the price of a BTC increases to $1M, with 21M in total supply, the market cap would be $21 trillions. Of course, the $19.4T is in present value and the $21T is in an unknown period of future value.)
1 what! Here we don't even know what does hold for Bitcoin post August 1st, till that is not clarified we can't even think post that and you want to think it will go to 1 million, you say people said which people are those I think someone has badly misinformed you, I feel you should browse around the forum and learn lot more about Bitcoins. |
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audaciousbeing
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June 30, 2017, 06:24:12 PM |
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Some said it will. What do you think?
(The estimated 2017 GDP in the US is $19.4 trillions. If the price of a BTC increases to $1M, with 21M in total supply, the market cap would be $21 trillions. Of course, the $19.4T is in present value and the $21T is in an unknown period of future value.)
I dont think it will ever reach that point because the reason why we are still witnessing sharp increase in the price of bitcoin is because of the fact that the currency is still evolving with new people coming on a daily basis and the moment the market is saturated up to a point which I believe bitcoin price wouldnt have reached the $1million then the only increase we will be seeing over a period of time will only be marginal which only one major event can push it further. |
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ImHash
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June 30, 2017, 07:53:09 PM |
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Impossible, if price wants to hit $1M/bitcoin that means a lots of difficulty increasing to a point where for mining a single coin you'd have to launch 1000 ASICs for 1 week to mine it, people would rather mine other coins which costs much less to mine.
It doesn't make any sense for the price to reach that highs but I think $50,000 is still a reasonable milestone to reach.
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Lampaster
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June 30, 2017, 09:29:39 PM |
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I don't believe in such a scenario. I guess people inspire the growth of bitcoin in 2013, but it seems to me that more of this will be gone. In any case, even if it is not it is not a reason to abandon bitcoin. A currency that has no inflation is already very good.
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EpicFail
Member
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Activity: 94
Merit: 10
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June 30, 2017, 09:30:54 PM |
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Of course it is possible, especially since there is no time limit. Furthermore, it is only a matter of time before $1 million won't be worth much anymore.
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bohr
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July 02, 2017, 02:45:23 AM |
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Some said it will. What do you think?
(The estimated 2017 GDP in the US is $19.4 trillions. If the price of a BTC increases to $1M, with 21M in total supply, the market cap would be $21 trillions. Of course, the $19.4T is in present value and the $21T is in an unknown period of future value.)
Forget it, if it happens it is not going to be in our lifetimes, many like the idea of bitcoin to reach those absurd values since that means we will all become rich but that is not going to work, it is better to accumulate as many coins as possible. |
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cpfreeplz
Legendary
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Activity: 966
Merit: 1042
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July 02, 2017, 02:47:46 AM |
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No. There will be another cryptocurrency that people like or bitcoins will slow down around the $100k mark. No matter what $1million will be impossible unless $1million buys you a used car because fiat is nearly worthless at that point.
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Bitcoin Guy (OP)
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July 02, 2017, 07:03:26 PM |
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No. There will be another cryptocurrency that people like or bitcoins will slow down around the $100k mark. No matter what $1million will be impossible unless $1million buys you a used car because fiat is nearly worthless at that point.
If Bitcoin grow at 50% annually till 2027, it will reach $100K per BTC. However, if it continue to grow at that rate till 2037, a BTC will be $8M! LOL! Knowing that it is not possible, but the power of compounding grow is amazing! No wonder employers only give us 0% to 2% raise per year. |
- To be or not to be, that is the question. -
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thecodebear
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July 03, 2017, 02:28:22 AM |
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No. There will be another cryptocurrency that people like or bitcoins will slow down around the $100k mark. No matter what $1million will be impossible unless $1million buys you a used car because fiat is nearly worthless at that point.
I agree with this. I think it will definitely hit $100k at some point in the next decade but its growth by then will probably slow down to the level of a decent stock. |
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ASHLIUSZ
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July 03, 2017, 04:53:42 AM |
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No. There will be another cryptocurrency that people like or bitcoins will slow down around the $100k mark. No matter what $1million will be impossible unless $1million buys you a used car because fiat is nearly worthless at that point.
Just because of the increasing value of bitcoin fiat never goes worthless. From the beginning bitcoin is calculated in terms of fiat, right now the usage is very small compared to the fiat usage. The fiat usage might decrease to some extent, but this never goes out of usage. If that's the reality already something with fiat might have taken place. Bitcoin always serve to be secondary just because of decentralization. |
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OrangeII
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July 03, 2017, 04:59:54 AM |
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I guess that's impossible, even to increase $ 500 in 1 day is still very difficult. Well, at least, we are eagerly awaiting it, because bitcoin prices also have never reached such a high price. Probably the most sensible price I currently think is $ 3000.
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Dude.Lebowski
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July 03, 2017, 06:34:31 AM |
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Impossible, if price wants to hit $1M/bitcoin that means a lots of difficulty increasing to a point where for mining a single coin you'd have to launch 1000 ASICs for 1 week to mine it, people would rather mine other coins which costs much less to mine.
It doesn't make any sense for the price to reach that highs but I think $50,000 is still a reasonable milestone to reach.
Your thinking about it all wrong. USD also has a huge risk of quickly loosing value even if Bitcoin does not gain in value (vs gold, land or food) for example. |
Okay. The old man told me to take any rug in the house.
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Denker
Legendary
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Activity: 1442
Merit: 1014
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July 03, 2017, 08:07:56 AM |
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Everything is possible. However I doubt we will see a $1million coin in our lifetime.
The next question is what the purchasing power of that $1million per coin would be? A loaf of bread?! A house?!
Imo this is speculating way too far into the future.
Let's look and wait for what is going to happen until the end of 2020, in terms of price, after next halving.
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Cobalt9317
Copper Member
Sr. Member
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Activity: 434
Merit: 278
Offering Escrow 0.5 % fee
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July 03, 2017, 08:22:57 AM |
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Some said it will. What do you think?
(The estimated 2017 GDP in the US is $19.4 trillions. If the price of a BTC increases to $1M, with 21M in total supply, the market cap would be $21 trillions. Of course, the $19.4T is in present value and the $21T is in an unknown period of future value.)
It could only possible if the remaining miner stop the process of mining BTCThe price is of course will pump and it could reach significant amount that a person can't buy a whole BTC |
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charlescoin
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July 03, 2017, 08:25:10 AM |
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Everything is possible. However I doubt we will see a $1million coin in our lifetime.
The next question is what the purchasing power of that $1million per coin would be? A loaf of bread?! A house?!
Imo this is speculating way too far into the future.
Let's look and wait for what is going to happen until the end of 2020, in terms of price, after next halving.
I'm guessing he was talking in relation to todays purchasing power. In that regard I will say its completely impossible, sure the price will go much higher but bitcoin is still just a speculative currency at the moment and I can't ever see it having a marketcap of over 1 trillion unless a much more significant amount of bitcoin is lost or burned but counted in that number. |
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Bagaji
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July 03, 2017, 09:04:28 PM |
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Some said it will. What do you think?
(The estimated 2017 GDP in the US is $19.4 trillions. If the price of a BTC increases to $1M, with 21M in total supply, the market cap would be $21 trillions. Of course, the $19.4T is in present value and the $21T is in an unknown period of future value.)
I believe that one day the market value of Bitcoin will get close to $10,000. But the possibility of the market value of Bitcoin reaching $1m is just a mere assumption that would may not come to pass. But if it eventually come to pass some of us that has less than one bitcoin in our wallet willl become millionaires in our own local currency. |
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Taki
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July 03, 2017, 09:35:53 PM |
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I think it really can worth 1 million of $ one day. The demand sets the price for bitcoin and today it's not the maximum that bitcoin can reach, just think that it's limited with 21 millions and how much people will want to have it. I'm sure this fact will make the price sky rocket and holders will become millionares.
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Biggapp
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July 03, 2017, 11:02:11 PM |
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I think it really can worth 1 million of $ one day. The demand sets the price for bitcoin and today it's not the maximum that bitcoin can reach, just think that it's limited with 21 millions and how much people will want to have it. I'm sure this fact will make the price sky rocket and holders will become millionares.
yes you are right if the demand of bitcoin increases then its price will also be increase and it is true that those people who hold their bitcoin or invest their money in bitcoin will be very rich and millionaires, but i think we do not need to expect much because great expectations from something always give great sorrow. |
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