$1,000,000 for a Bitcoin?

[baddesttrader]

Will it ever happen? 

No, simply because there will be billions of "Bitcoin bubbles" before then. The crash after $250 will happen again and again, just at different values...at least until Bitcoin gains enough popularity to help stabilize the currency a bit. I'd be impressed if I see $1,000 a coin in my lifetime.

thats a market cap of 22,000,000,000,000 21,000,000,000,000... that's exactly how much obama has spent during his term.

Interesting! That's nearly 30% of the global M3 money supply!

(sarcastic way of saying "think before you speak")

If anyone agrees with this guys I'd be happy to see 1,000 per BTC in my LIFETIME sentiment... Then I would suggest you put on your thinking cap, and ponder for a bit on what a game changer these coins are.

[antimattercrusader]

It's certainly possible... if the U.S. experiences hyper inflation, it could happen. It might cost 500,000 USD to purchase a beer, but I wouldn't discount that possibility.

Will it be worth 1M in today's dollars? I highly doubt that.

In anycase, I consider cryptocurrecny (as well as foreign fiat) as part of an investment portfolio to be wise.

[Chainsaw]

It's certainly possible... if the U.S. experiences hyper inflation, it could happen. It might cost 500,000 USD to purchase a beer, but I wouldn't discount that possibility.

Will it be worth 1M in today's dollars? I highly doubt that.

In anycase, I consider cryptocurrecny (as well as foreign fiat) as part of an investment portfolio to be wise.

You make a great point, antimattercrusader.  While I've felt the best-case long-term valuation for Bitcoin (global adoption has hit equilibrium, transactional friction eliminated) was $100,000 to $300,000.  But that number is meaningless without a frame of reference. The implicit statement has always been "in today's money".  If a hyperinflation scenario were to balloon the USD in existence 10x, I would increase that range proportionally.

[ThatDGuy]

Will it ever happen? 

No, simply because there will be billions of "Bitcoin bubbles" before then. The crash after $250 will happen again and again, just at different values...at least until Bitcoin gains enough popularity to help stabilize the currency a bit. I'd be impressed if I see $1,000 a coin in my lifetime.

thats a market cap of 22,000,000,000,000 21,000,000,000,000... that's exactly how much obama has spent during his term.

Interesting! That's nearly 30% of the global M3 money supply!

(sarcastic way of saying "think before you speak")

If anyone agrees with this guys I'd be happy to see 1,000 per BTC in my LIFETIME sentiment... Then I would suggest you put on your thinking cap, and ponder for a bit on what a game changer these coins are.

I wouldn't necessarily say that Bitcoin is definitely a game changer, but they have already shown incredible resilience.  The potential for them as a disruptive force is incredible

One of the coolest aspects of Bitcoin is realizing that - and then realizing that others could start to realize it too.

[bitrebel]

Max Keiser predicted this a while back.

If each American held bitcoins, each American could only hold approx. 0.06709265175 btc with 313 Million people in the USA
If each citizen worldwide held bitcoins, each citizen could only hold 0.003 btc.
Now if only 1% of the world population adopted bitcoins (70 Million) and held some they could each hold only 0.3 btc.

That tells me bitcoins could reach 1,000,000.00 each some time in our future.
Max could be right.

[Matthew N. Wright]

Max Keiser predicted this a while back.

If each American held bitcoins, each American could only hold approx. 0.06709265175 btc with 313 Million people in the USA
If each citizen worldwide held bitcoins, each citizen could only hold 0.003 btc.
Now if only 1% of the world population adopted bitcoins (70 Million) and held some they could each hold only 0.3 btc.

That tells me bitcoins could reach 1,000,000.00 each some time in our future.
Max could be right.

In a fixed example, that is absolutely true. In the real world full of competitors with deep pockets and governments striving to remain relative and in their people's favor, it is highly unlikely. Most likely, MintChip will happen to every country before bitcoin ever gets a chance to get that big, and that's when the political idealists will be the *only* ones using it, instead of people looking for an interesting, cheap and fascinating technology to use for payments.

[bitrebel]

Max Keiser predicted this a while back.

If each American held bitcoins, each American could only hold approx. 0.06709265175 btc with 313 Million people in the USA
If each citizen worldwide held bitcoins, each citizen could only hold 0.003 btc.
Now if only 1% of the world population adopted bitcoins (70 Million) and held some they could each hold only 0.3 btc.

That tells me bitcoins could reach 1,000,000.00 each some time in our future.
Max could be right.

In a fixed example, that is absolutely true. In the real world full of competitors with deep pockets and governments striving to remain relative and in their people's favor, it is highly unlikely. Most likely, MintChip will happen to every country before bitcoin ever gets a chance to get that big, and that's when the political idealists will be the *only* ones using it, instead of people looking for an interesting, cheap and fascinating technology to use for payments.

Mintchip is nothing like Bitcoin. All currencies backed by London and the bank of England, i.e. Canada, Federal Reserve etc. will all fall to inflation due to their criminal complicity. Then, who will want to use that when the fascist governments are tracking everything you do, taxing you for it, and looking for ways to indict you for doing nothing?
Bitcoins are nothing like these government issued cyber currencies, in that they are not crypto currencies and they are all regulated and heavily controlled. YOU, are certainly welcome to use them, but I choose not to. Many others choose not to, as well. We'll choose bitcoin anyday.

also this...http://www.forbes.com/sites/jonmatonis/2012/04/12/mintchip-misses-the-point-of-digital-currency/
..."There are other aspects of the system that Bitcoin users are likely to object to. The currency creation model is centralized: value is originally injected into the system by the Royal Canadian Mint and customers can purchase value to spend by going through trusted brokers. The system is designed to be able to force upgrades, giving the Mint the power to introduce onerous tracking features over time if it so desires. Innovative means of value storage like paper and brain wallets are out of the question, since nothing can be done without the physical chip, and it’s impossible to have an online wallet that does not require trusting the provider."

[Matthew N. Wright]

Max Keiser predicted this a while back.

If each American held bitcoins, each American could only hold approx. 0.06709265175 btc with 313 Million people in the USA
If each citizen worldwide held bitcoins, each citizen could only hold 0.003 btc.
Now if only 1% of the world population adopted bitcoins (70 Million) and held some they could each hold only 0.3 btc.

That tells me bitcoins could reach 1,000,000.00 each some time in our future.
Max could be right.

In a fixed example, that is absolutely true. In the real world full of competitors with deep pockets and governments striving to remain relative and in their people's favor, it is highly unlikely. Most likely, MintChip will happen to every country before bitcoin ever gets a chance to get that big, and that's when the political idealists will be the *only* ones using it, instead of people looking for an interesting, cheap and fascinating technology to use for payments.

Mintchip is nothing like Bitcoin. All currencies backed by London and the bank of England, i.e. Canada, Federal Reserve etc. will all fall to inflation due to their criminal complicity. Then, who will want to use that when the fascist governments are tracking everything you do, taxing you for it, and looking for ways to indict you for doing nothing?
Bitcoins are nothing like these government issued cyber currencies, in that they are not crypto currencies and they are all regulated and heavily controlled. YOU, are certainly welcome to use them, but I choose not to. Many others choose not to, as well. We'll choose bitcoin anyday.

Dude. That's got to be a record or something for proving my point right after a post.

and that's when the political idealists will be the *only* ones using it, instead of people looking for an interesting, cheap and fascinating technology to use for payments.

[adamstgBit]

Will it ever happen? 

it already happened! 

[ThatDGuy]

Max Keiser predicted this a while back.

If each American held bitcoins, each American could only hold approx. 0.06709265175 btc with 313 Million people in the USA
If each citizen worldwide held bitcoins, each citizen could only hold 0.003 btc.
Now if only 1% of the world population adopted bitcoins (70 Million) and held some they could each hold only 0.3 btc.

That tells me bitcoins could reach 1,000,000.00 each some time in our future.
Max could be right.

In a fixed example, that is absolutely true. In the real world full of competitors with deep pockets and governments striving to remain relative and in their people's favor, it is highly unlikely. Most likely, MintChip will happen to every country before bitcoin ever gets a chance to get that big, and that's when the political idealists will be the *only* ones using it, instead of people looking for an interesting, cheap and fascinating technology to use for payments.

Mintchip is nothing like Bitcoin. All currencies backed by London and the bank of England, i.e. Canada, Federal Reserve etc. will all fall to inflation due to their criminal complicity. Then, who will want to use that when the fascist governments are tracking everything you do, taxing you for it, and looking for ways to indict you for doing nothing?
Bitcoins are nothing like these government issued cyber currencies, in that they are not crypto currencies and they are all regulated and heavily controlled. YOU, are certainly welcome to use them, but I choose not to. Many others choose not to, as well. We'll choose bitcoin anyday.

Dude. That's got to be a record or something for proving my point right after a post.

and that's when the political idealists will be the *only* ones using it, instead of people looking for an interesting, cheap and fascinating technology to use for payments.

I think that what's happening now in places like Cyprus and in Argentina, potentially Ireland has the potential to create a lot of political idealists, or at the very least, people who don't want to keep all of their wealth in a government or bank backed currency.  These likely won't be the only places where that happens.

[Matthew N. Wright]

Max Keiser predicted this a while back.

If each American held bitcoins, each American could only hold approx. 0.06709265175 btc with 313 Million people in the USA
If each citizen worldwide held bitcoins, each citizen could only hold 0.003 btc.
Now if only 1% of the world population adopted bitcoins (70 Million) and held some they could each hold only 0.3 btc.

That tells me bitcoins could reach 1,000,000.00 each some time in our future.
Max could be right.

In a fixed example, that is absolutely true. In the real world full of competitors with deep pockets and governments striving to remain relative and in their people's favor, it is highly unlikely. Most likely, MintChip will happen to every country before bitcoin ever gets a chance to get that big, and that's when the political idealists will be the *only* ones using it, instead of people looking for an interesting, cheap and fascinating technology to use for payments.

Mintchip is nothing like Bitcoin. All currencies backed by London and the bank of England, i.e. Canada, Federal Reserve etc. will all fall to inflation due to their criminal complicity. Then, who will want to use that when the fascist governments are tracking everything you do, taxing you for it, and looking for ways to indict you for doing nothing?
Bitcoins are nothing like these government issued cyber currencies, in that they are not crypto currencies and they are all regulated and heavily controlled. YOU, are certainly welcome to use them, but I choose not to. Many others choose not to, as well. We'll choose bitcoin anyday.

Dude. That's got to be a record or something for proving my point right after a post.

and that's when the political idealists will be the *only* ones using it, instead of people looking for an interesting, cheap and fascinating technology to use for payments.

I think that what's happening now in places like Cyprus and in Argentina, potentially Ireland has the potential to create a lot of political idealists, or at the very least, people who don't want to keep all of their wealth in a government or bank backed currency.  These likely won't be the only places where that happens.

More to the point, it's likely Bitcoin won't be the *only* solution, as the creation of new wealth will eventually be controlled by those with the largest mining rig investments. It's more likely a decentralized system of trade (something like Ripple was *trying* to do but has so far failed at) will be introduced that makes Bitcoin obsolete to anyone who didn't invest heavily into it. I love Bitcoin, but I also love my girlfriend. It doesn't mean I can't imagine ever loving another girl (especially if she dies).

[MonadTran]

Yes, but not in today's dollars.

[Hfleer]

It can happen fairly easily, after being adjusted for inflation is another matter.

[Hfleer]

honestly, I'm sick of threads like this.

what's the point of talking about something so ridiculous?

well typical speculation from people in the speculation sub-forum.

[bitsalame]

Only if this happens:

[Elwar]

Yes, it will happen. Actually...we can make it happen right now.

I am willing to sell the first bitcoin ever purchased for a million dollars.

I do this for the community.

[Coinseeker]

Yes, it will happen. Actually...we can make it happen right now.

I am willing to sell the first bitcoin ever purchased for a million dollars.

I do this for the community.

   Way to take one for the team.

[HeliKopterBen]

If it ever reaches that point, then bitcoin won't be valued in $ most likey

[Exoskeleton]

Only if this happens:

Epic. Just epic. Its nice to see Im not the only fan.

And to the point I could not agree more!   

[Malawi]

On the other hand, no one has mentioned technology. Why expect such a big boon to stop at bitcoin's current development team and code? Why wouldn't something better than bitcoin come along by then, fueled by the then common knowledge the developing such a solution would be profitable for the producer and participants?

Take this same argument and think Internet instead of Bitcoin. Or, more specifically, IPv4. Why hasn't someone developed a better protocol than IPv4 and have it take over the Internet? There is tons of money in it, think of all the routers you could sell!

It hasn't happened because IPv4 is entrenched. Switching to something else is too much work. A new protocol would have to be better than IPv4, and not a little bit better, but MASSIVELY better to make it worth while. And, and BTW, there IS a newer, better protocol and its called IPv6. And it is being adopted, but very very slowly, because its a bunch of work and IPv4 is working and is "good enough".

IPv6 is a bit like BFL, it's been "just around the corner" for 15 years, and it's just begun trickling out for the past couple of years.