Bitcoin could realistically be worth $500,000

[moopser]

If BTC will reach 500k USD, what will be USD worth then?
I guess of countries and financial authorities will start to accept BTC as a payment tool and will recognize it as a viable currency on legislative than highly increased demand can skyrocket the price.. but 500k USD.. i doubt so.

Theoretical projections from recent charts show that it is possible to attain $500,000 even with setbacks and whatnot, but the market is so unpredictable that even the most plausible scenarios tend to get broken over time. $500,000 is a big sum per coin, and for us to hit that, we would need to amass $8.298 trillion which is no joke. It could happen if hyperinflation kicks in rapidly (highly unlikely) or everyone in the world goes crazy over bitcoin.

This is same of what I'm saying - USD worth and demand. My doubt is, and I guess that I am not mistaken, that it is not possible in close future (up to 10 years from now).
There are no forecasts now that shows crash of US economy in foreseeable future.

But honestly, I would like to see BTCUSD=500,000.00, of course considering current USD position in worlds economy

[Slow death]

frankly I do not believe that it is possible, if they even told me that in 2030 bitcoin will be worth $60.000 I would accept, but $500.000 is a lot

I think what many don't realize is the growth after we get to 10k (and I guess we all agree we'll get there, eventually).
Right now, say at 3500, a 1% raise meant 35$

Now, let's assume we get to 10000 - every 1% growth is 100 - so a simple 10% growth (which is something quite normal for BC) would mean a 1k growth.
It will increase exponentially so...

Either the growth will decrease, giving us growths of 0.<n> or, I think more possible, when BC will get to 10k people from all over the place will jump on it, giving us even bigger growths.
So, what I am trying to say is that to get from 10k to 100k is much less trouble than getting from 1$ to 100$

That doesn't mean the thing won't blow up before, but if it really becomes that popular and steal gold market (which is really horrible to keep and sell)... I don't see any reason why it wouldn't reach 500k

we are still in the $4000 and already are making calculations of $10.000

and just to add, a few weeks ago there were many analysts who made many predictions that by the end of the year bitcoin would be worth $7000 and to what it seems until the end of the year we will be in the $5000 maximum

[smokeydog]

21,000,000 bitcoins
500,000 each

Market cap over 1 trillion.

Possible but a waste of time think about it.   I would be satisfied if I could by a cup of coffee with bitcoin at all my local stops in 2018.

How about selling stocks in my Vanguard brokerage account and parking my money in bitcoin instead of the GBTC bitcoin trust ETF or US dollars.

This stuff has a long way to go before it replaces the US dollar which is worth more thought then wondering if each bit coin will go to 1 million US dollars each.

[loty1825]

Liew and Smith base all their assumptions on BTC beeing number one cryptocurrency forever.

Bitcoin has been the top-performing currency in the world in six of the past seven years, climbing from zero to a value of about $1,190.

Yes, but they forget it was the only currency for the first few years. It's not hard being top performing if you're the only one.

"Expats sending money home have found in Bitcoin an inexpensive alternative, and we assume that the percentage of Bitcoin-based remittances will sharply increase with greater Bitcoin awareness," the two say.

I think they assume wrong. Bitcoin was inexpensive alternative to fiat transfers. Now there are other cryptos out there, that are cheaper, faster and technically superior alternative to BTC. Take for example Monero, Zcash, ZEN, DASH, just to name a few. They're all faster and cheaper than BTC and also offer annonimity. They lack the wide adoption BTC has, but as more and more people join the cryptospace and learn about other, more convenient technologies than BTC, BTC will be loosing it's dominance, And I'm sure even more advanced cryptos will come out in the future.

Liew and Smith said increased political uncertainty in the UK, US and in developing nations would help elevate the level of interest in bitcoin.

It will help to increase interest in all cryptocurrencies not just BTC.

GSMA, a trade body that represents the interests of mobile operators worldwide, believes 90% of these users will come from developing countries.

This will make it possible for nearly everyone to have a bank in their pocket, and that should provide a boost for bitcoin as well. Liew and Smith say bitcoin could account for 50% of all of these transactions.

Yes those people from developing countries will use their phones for crypto transactions. But there will be many more suitable currencies to make the transfers than BTC. Take a look at OMG for example.

A bitcoin price of $1,000 in 2017.
That network users will grow 61x from now until 2030. "Put another way, we need a population of bitcoin users around a quarter of the Chinese population (or 5% of the global population) in 2030 to see bitcoin at $500k," Liew and Smith told Business Insider. Bitcoin's user network grew from 120,000 users in 2013 to 6.5 million users in 2017, or about 54x, and this could be just the beginning. Growth of that magnitude would produce 400 million users in 2030.
The average value of bitcoin held per user hits $25,000. " As institutional investor cash in Bitcoin, sophisticated investors trading Bitcoin, and Bitcoin-based ETFs proliferate, we think the average Bitcoin value held will increase to around $25k per Bitcoin holder," Liew and Smith said. Currently, with a market cap of $16.4 billion, and 6.5 million user count, the average user holds $2,515 worth of bitcoin.
Bitcoin's 2030 market cap is decided by number of bitcoin holders multiplied by average bitcoin value held.
Bitcoin's 2030 supply will be about 20 million.
Bitcoin's 2030 price and user count total $500,000 and 400 million, respectively. The price is found by taking the $10 trillion market cap and dividing it by the fixed supply of 20 million bitcoin.
It's important to note that a lot could go wrong, too. News surrounding bitcoin has been rather negative as of a late.

Those are calculations based on assumption BTC will remain the only widely adopted cryptocurrency by 2030. I already explained above, why I think that won't happen.
Let's imagine BTC would continue to represent about 50% of total market cap in 2030. And let's ignore the small inflation because of newly mined coins by that time and make calculation based on the current number of coins 16,596,450. 16,596,450 * 500,000$ = 8,298,225,000,000$ total bitcoin marketcap. People like to compare BTC to gold. The total value of all the mined gold is about 7.680.000.000.000$. So BTC would be worth even more than gold. Gold is so valuable because it's rare, limited and durable. So is BTC. So that makes both good holders of value. And BTC at a few 100K $ might make sense, but the fact is almost any cyptocurrency can be good holder of value. Why would BTC be the only one people would use to store value? Just because it was the first? Wouldn't people rather choose another cryptocurrency that's cheaper and faster to move and anonymous so noone could ever know that you own it? I certainly would.

[HatakeKakashi]

I dont agree that the price of bitcoin will reach 500,000 dollars in the future . Because even you wait more few years or even century bitcoin will not totally reach  that because that amount is very high . And even everything is possible to happen I think it will not happen if the price that you say. Maybe the price 50k dollars it will happen . But for me the highest price is 30k dollars only.

[Zuilhsa]

It has been performing well since it started, it has it's ups and downs, but that happens in every other currency. Reaching $500,000 for me is unrealistic now because for that BTC has to see a lot of apreciation in its market value than dollar, and only if dollar flunks BTC can reach this high!

Yes it is more unrealistic, first we have to cross the four digit value then five and six. Bitcoin has the potential to grow high with the growing user base and adoption. So when people from every countries join this platform we can expect this sum.

[loty1825]

Could someone explain why so many forum members think newcomers to crypto space will continue to adopt bitcoin as number one currency forever? Becuase I really doubt it.

[Question123]

Omg bitcoib price will not increase 500k dollars even the year of 2030, because if that happen for sure those people have thousands of bitcoin are richer than bill gates and thats very impossible . Even you wait few decades it will not happen. Maybe the price is 50k dollars is possible but it depends on the demand on the market if they have many buyer for sure the price will increase and I hope that happen.

[Wandika]

Omg bitcoib price will not increase 500k dollars even the year of 2030, because if that happen for sure those people have thousands of bitcoin are richer than bill gates and thats very impossible . Even you wait few decades it will not happen. Maybe the price is 50k dollars is possible but it depends on the demand on the market if they have many buyer for sure the price will increase and I hope that happen.

We can't say it now, maybe not in 2030 but in 2050 or whatever date it is, though it's such a big amount, we might not experience it, but maybe the next generation or the others will meet that price. 

[ktabb]

Bitcoin cannot reach a price like this (unless US dollar crashes). The problem is that Bitcoin would be a global currency at that point. It cannot become a global currency because it is too volatile, and in order to reach that market cap it needs to be volatile. It's a self-defeating goal.

[Bacotan Bae]

I expect a $ 500,000 price to happen, but we need something special and extraordinary for example all official states legalize bitcoin for payment systems and trade transactions.

[VanDeinsberg12]

realistically in theory, yes, everything is possible but in practice.... not very much. Realistically we can also line on mars but that's not happening any time soon, yes? but this just as a vague statement is true, tho I don't think we'll live to see it.

In theory itself just seem not possible seeing the condition of bitcoin right now that struggling to face the scalability issue, the fees itself required by bitcoin in every transaction right now is 0.00027, looks small for now but imagine when the price hitting $500,000, 0.000027 will equal to 13.5$ which is, pretty expensive for sending a transaction, and by that, bitcoin will no more become currency but savings.

[Febo]

China, which is responsible for nearly 100% of trading in bitcoin, has been cracking down on trading. The three biggest exchanges recently announced a 0.2% fee on all transactions, in addition to blocking withdrawals from trading accounts.

This is bullshit. Even if you copied from source you should know is false. Yes there used to be high volume on Chinese exchanges simply because fees were none and that trading gave traders profit. If there would be no fees on all exchanges we would see 90% volume increase everywhere just because bots would trade more since would be more profit for them.

Claiming China is responsible for nearly 100% of trading in bitcoin means that soon will be almost no trading in bitcoin anymore. LOL

[Mister1k]

China, which is responsible for nearly 100% of trading in bitcoin, has been cracking down on trading. The three biggest exchanges recently announced a 0.2% fee on all transactions, in addition to blocking withdrawals from trading accounts.

This is bullshit. Even if you copied from source you should know is false. Yes there used to be high volume on Chinese exchanges simply because fees were none and that trading gave traders profit. If there would be no fees on all exchanges we would see 90% volume increase everywhere just because bots would trade more since would be more profit for them.

Claiming China is responsible for nearly 100% of trading in bitcoin means that soon will be almost no trading in bitcoin anymore. LOL

Perfect after the ban of bitcoin exchanges in China now and there should be some critical information like expecting new altcoin Bitcoin gold with the hard fork in the market.We need to check the other countries investments in bitcoin. if we completely understand that first we won't worry about the China's banning on bitcoin.

[jvdp]

China, which is responsible for nearly 100% of trading in bitcoin, has been cracking down on trading. The three biggest exchanges recently announced a 0.2% fee on all transactions, in addition to blocking withdrawals from trading accounts.

This is bullshit. Even if you copied from source you should know is false. Yes there used to be high volume on Chinese exchanges simply because fees were none and that trading gave traders profit. If there would be no fees on all exchanges we would see 90% volume increase everywhere just because bots would trade more since would be more profit for them.

Claiming China is responsible for nearly 100% of trading in bitcoin means that soon will be almost no trading in bitcoin anymore. LOL

Perfect after the ban of bitcoin exchanges in China now and there should be some critical information like expecting new altcoin Bitcoin gold with the hard fork in the market.We need to check the other countries investments in bitcoin. if we completely understand that first we won't worry about the China's banning on bitcoin.

Actually,bitcoin is not banned in China.Due to fear of the bitcoin will replace their own currency,china start to reduce the bitcoin usage by reducing the Trading and all.But one fact is ,China place a first place in investing in bitcoin as compared to any other country in the World.So it's not possible to Ban bitcoin in China.