$10MILLION per BTC

[jekjekman]

$10,000,000 for a piece of Bitcoin this is the amount that the coin should reach in order for it to be a replacement for fiat.
And this amount was even calculated by Hal Finney way back in 2009.

Screenies of a forum conversation between Satoshi and Hal Finney.

[Don Pedro Dinero]

Well, at least this speculation post is based on what Satoshi said. Even if he said it, he could be wrong but I would like to point out a couple of things: he is talking about bitcoin substituting all fiat currencies and we don’t know if it will just coexist with them which would lower that amount. Apart from that, he is valuing total World’s wealth but wealth increases with time, so it could make that figure go up. Anyway, if that happened we would be really happy but we have a long way to go.

[allthingsluxury]

This would be a stunning thing to see, but I just can't wrap my brain around it ever reaching that number. Would be insanity obviously.

[puremage111]

When we are at $1K people call us scam

When we are at $5K people call us bubble

When we are at $10 Mllion, i have no idea what do people call us because they would have be gone

[Opquar]

That's insane. Obviously, though, replacing all fiat in the world is a tall order. It likely won't reach that high, as Hal said. Anyone know what Satoshi said in response?

[reliable]

When we are at $1K people call us scam

When we are at $5K people call us bubble

When we are at $10 Mllion, i have no idea what do people call us because they would have be gone

I do not know what will happen when even if it crosses above 20000$ in coming next year or even by 2019. But I think that it would be more on a unrealistic not to compare the price of  $10 million which would be insane if it happens anytime. I wish it to happen but somehow also thinking that it won't.

[Koadharber]

$10,000,000 for a piece of Bitcoin this is the amount that the coin should reach in order for it to be a replacement for fiat.
And this amount was even calculated by Hal Finney way back in 2009.

Screenies of a forum conversation between Satoshi and Hal Finney.

Even they though talk such thing i wont believe that this would really be achievable by bitcoin itself knowing that we cant even reach to the point that we would potentially replace fiat.Its an impossible thing to happen knowing government wont really allow such thing to happen. $10-15k would be somehow realistic to speculate to.

[scott1]

I think all parties involved have a vested interest in the continuous price rise of BTC and there are little "corrective forces" (long-short funds, or derivative players) like you have in the traditional markets that are taking the opposite side and creating price ceilings. Therefore, the probability for a large price increase going forward continues to outweigh the probability that we see a substantial decline. And, truthfully, BTC needs to continue to climb for it to gain more mainstream adoption, which then (in a cycle fashion) increases the probability of continues upward price momentum.

$10 million USD/BTC is an outrageously high number, and would imply a valuation of over 150 Trillion. Personally, I don't think we'll ever see that but WTF do I know  

[cellard]

That's insane. Obviously, though, replacing all fiat in the world is a tall order. It likely won't reach that high, as Hal said. Anyone know what Satoshi said in response?

This is from the bitcoin mailing list, it's still up online for anybody to see:

https://sourceforge.net/p/bitcoin/mailman/bitcoin-list/thread/20090111022201.C084C14F6E1@finney.org/

In case it goes online, I will quote satoshi's response here:

Re: [bitcoin-list] Bitcoin v0.1 released
From: Satoshi Nakamoto <satoshi@vi...> - 2009-01-16 18:35:32

> Dustin D. Trammell wrote:
> > Satoshi Nakamoto wrote:
> > You know, I think there were a lot more people interested in the 90's,
> > but after more than a decade of failed Trusted Third Party based systems
> > (Digicash, etc), they see it as a lost cause. I hope they can make the
> > distinction that this is the first time I know of that we're trying a
> > non-trust-based system.
>
> Yea, that was the primary feature that caught my eye. The real trick
> will be to get people to actually value the BitCoins so that they become
> currency.
 
I would be surprised if 10 years from now we're not using
electronic currency in some way, now that we know a way to do it
that won't inevitably get dumbed down when the trusted third party
gets cold feet.

It could get started in a narrow niche like reward points,
donation tokens, currency for a game or micropayments for adult
sites.  Initially it can be used in proof-of-work applications
for services that could almost be free but not quite.

It can already be used for pay-to-send e-mail.  The send dialog is
resizeable and you can enter as long of a message as you like.
It's sent directly when it connects.  The recipient doubleclicks
on the transaction to see the full message.  If someone famous is
getting more e-mail than they can read, but would still like to
have a way for fans to contact them, they could set up Bitcoin and
give out the IP address on their website.  "Send X bitcoins to my
priority hotline at this IP and I'll read the message personally."

Subscription sites that need some extra proof-of-work for their
free trial so it doesn't cannibalize subscriptions could charge
bitcoins for the trial.

It might make sense just to get some in case it catches on.  If
enough people think the same way, that becomes a self fulfilling
prophecy.  Once it gets bootstrapped, there are so many
applications if you could effortlessly pay a few cents to a
website as easily as dropping coins in a vending machine.  

Satoshi Nakamoto
http://www.bitcoin.org

Also notice how back in the day you could send BTC to IP addresses and this was removed from a security pov.

[Funeral Wreaths]

as far as i am concern yes it can be possible, since bitcoin was already emerging, to think that satoshi said it, maybe he has a point, but we cannot be so sure about it. Anyway lots of stuffs happened since the launch of bitcoin way back years ago, but stilk it is making its way forward.

[kabzeon]

There are a lot of posts out there implying that they expect bitcoin can continue to rise in value indefinitely, or forever. I agree that it will continue to rise in value but it will eventually top out. Even if bitcoin were to become the predominant currency and replace fiat, its value could only increase as fast as global GDP increases (~2-3% per year) so I don't think it will reach the 10 mil mark.

[MoonIsBlue]

Easy, Bitcoin can do a 100 Million with Litecoin responsible for smaller transactions such as coffee.

[sukamasoto]

I think it's too good to be true but if bitcoin show a promising progress and it's popularity keep growing until next 10 year, I think it will happen.
But overall it become people's choice whenever they still believe on bitcoin by holding as long as possible or they loss everything. That's the risk of being bitcoin investor !

[killerfrost]

It is difficult to achieve this. $ 10 million per BTC is not small and can never happen. A huge number that any currency can achieve. However, replacing fiat with bitcoin can happen in a few decades

[MoonIsBlue]

It is difficult to achieve this. $ 10 million per BTC is not small and can never happen. A huge number that any currency can achieve. However, replacing fiat with bitcoin can happen in a few decades

Why? Just because you think it is an insane number? I think it is insane how much wealth Bill Gates has for example, doesn't mean its imposible. Stop letting your beliefs restrict you.
Bitcoin can do 1 billion per coin. Easy!


I don't get it, reading commnents here its all I think its crazy, its too good to be true. Well if you bought for a few dollars worth of bitcoin upon its release you were a millionare now.
You're breathing in an envoirment where coins can go 100-1000% in a day and you think BTC hitting over a million is to far fetched?

[jekjekman]

When we are at $1K people call us scam

When we are at $5K people call us bubble

When we are at $10 Mllion, i have no idea what do people call us because they would have be gone

They might call us in insane  

There are a lot of posts out there implying that they expect bitcoin can continue to rise in value indefinitely, or forever. I agree that it will continue to rise in value but it will eventually top out. Even if bitcoin were to become the predominant currency and replace fiat, its value could only increase as fast as global GDP increases (~2-3% per year) so I don't think it will reach the 10 mil mark.

$10 million is the price for the coin to replace fiat, if it will then it will be more than that amount since global GDP will be more than the amount stated because of the yearly growth.

I think it's too good to be true but if bitcoin show a promising progress and it's popularity keep growing until next 10 year, I think it will happen.
But overall it become people's choice whenever they still believe on bitcoin by holding as long as possible or they loss everything. That's the risk of being bitcoin investor !

Yes it really depends on the people if it will be accepted by everyone. And also if governments will not release their own crypto currency.

[waynechong1995]

Statements are easy to make, but imagine how much obstacles Bitcoin had to make through in order to be $100000, nobody was anticipating and maybe words are just mere words. How real world people perceive bitcoin is that matters   $5k is enough to make chaos among traditional financial firms, $10m  is impossible cause that's insane! 10,000,000 * 21 m ? that would be 210 trillion, 300% more than the value of all fiat currencies combined!  

[Kikai]

That's why is divisible, also there will be a lot of other coins

[jekjekman]

Statements are easy to make, but imagine how much obstacles Bitcoin had to make through in order to be $100000, nobody was anticipating and maybe words are just mere words. How real world people perceive bitcoin is that matters   $5k is enough to make chaos among traditional financial firms, $10m  is impossible cause that's insane! 10,000,000 * 21 m ? that would be 210 trillion, 300% more than the value of all fiat currencies combined!  

I think as per the conversation $100-300 trillion is how hall estimated the total household amount of the whole world.
So that is the amount the coin should worth for it to replace fiat.

Again that is their computation if it will replace the latter.

[salihno71]

Hey man, i would be happy to see btc reached 1% of that value. It's a lot of money. It's a stretch but it's reachable under the right conditions.