Bitcoin for $1 Million !!! In ten years?

[Snarks]

Haha, I saw that chart too. The parabolic curve is about to go parabolic on a logarithmic scale

Makes you wonder if some day a Bitcoin will be worth more than a Rembrandt.

[cuteman]

Added the missing part of the graph.  

You can see the end of 2013' price drop from $1k to $200, caused by Mt.Gox bankrupcy.  Without Mt.Gox the graph would be more "good-looking" and closer to the trendline  

[Omega Weapon]

Well if you look at it, it's not impossible. Day by day we see more businesses that implement bitcoin and more people investing and getting into bitcoin. When I got into bitcoin and started learning and earning it, I knew 1 person that actually knew what btc is and today every other person knows what it is and a few that started mining btc with alts and investing in it. I wouldn't say 1mil but somewhat close to that but certainly over $500k for sure. And when bitcoin get's to the price of over $20k we might see some of the biggest investors out there, we can see taht rise even today.

I do think it is impossible, do not get me wrong I believe bitcoin will be very valuable by that time but there are many things that could happen and that could affect the value of bitcoin, for example if bitcoin becomes too big of a threat to the governments then it is very likely we could see a worldwide ban on bitcoin in the future and that could decrease the price of bitcoin.

[ethereumhunter]

Well if you look at it, it's not impossible. Day by day we see more businesses that implement bitcoin and more people investing and getting into bitcoin. When I got into bitcoin and started learning and earning it, I knew 1 person that actually knew what btc is and today every other person knows what it is and a few that started mining btc with alts and investing in it. I wouldn't say 1mil but somewhat close to that but certainly over $500k for sure. And when bitcoin get's to the price of over $20k we might see some of the biggest investors out there, we can see taht rise even today.

I do think it is impossible, do not get me wrong I believe bitcoin will be very valuable by that time but there are many things that could happen and that could affect the value of bitcoin, for example if bitcoin becomes too big of a threat to the governments then it is very likely we could see a worldwide ban on bitcoin in the future and that could decrease the price of bitcoin.

if bitcoin become a threat to the government, then they will use many ways to try to stop bitcoin. and if finally, bitcoin is ban in many countries because of the price is a threat for the government then maybe the price will be drop too deep because people are too fearful to use bitcoin and they would stay away from bitcoin.

but I do believe that bitcoin will become something that we should have in the future because bitcoin will be worth for a long term and the price will reach over $20k in the future. with so many people and business try to use bitcoin, it gives a good impact on bitcoin price which is the price will increase. I cannot imagine how if every people in the world know bitcoin and they use bitcoin, maybe the price will increase too high.

[cuteman]

John McAfee agrees!  

John McAfee Ups His 2020 Prediction to $1,000,000/BTC

http://www.newsbtc.com/2017/11/29/john-mcafee-ups-2020-prediction-1000000-btc/

[cuteman]

The history of bitcoin was flat spots, spikes, crashes and more flat spots.

But each time the long flat period would be at a higher level than the one before.

[wxxyrqa]

The history of bitcoin was flat spots, spikes, crashes and more flat spots.

But each time the long flat period would be at a higher level than the one before.

I remember all these figures not only with emotion, but also with great envy, because I would very much like to return at that time and buy Bitcoin for all the money that I could collect. 30 cents or even 30 dollars, it's almost Nothing, compared to what's the price for today.

[knightmairesaint]

Don't expect too much in bitcoin because even you wait more years or even hundreds years the price of the bitcoin will not reach 1million dollars. I think we need to talk abouy the price of bitcoin possible to become 10k this year . For me the highest price of the bitcoin is 50k dollars only. But everything is possible to happen but we don't know what is the price of bitcoin if it's increase or decrease.

You have a point there but I think that it is not wrong too dream big like that. After all, the interest in bitcoin is growing and it is possible that it will be bigger than what we think about that. Yeah we should not expect but I personally think that such things is possible for bitcoin and also for other cryptos. Crypto currencies will be the center of interest in the future especially if more people realize how beneficial earning and saving these coins and tokens.

[supandi wiharja]

For the next 10 years we all don't know what happens with digital currencies like bitcoins.
It is possible that the bitcoin price touched $ 1 million per coin and possibly the bitcoin value will decrease.
Nothing is impossible in the crypto world, But if the price in 10 years happens, I'm afraid it will have a major impact on global finance And cause the world economy can be a crisis.

[omorfi]

You can not make money from what everyone knows. I do not think bitcoin will reach 1m dollar in this sense. But still too many people dont know whats bitcoin. As it gain a widespread usage, its price will increase absolutely.

[shantoote]

Chart from 2014, when Bitcoin was $300, predicted price of $10k for today — Nov 22nd, 2017.  

We're at $8,200.  (If we add Bitcoin Cash and Gold prices, we'll get close to $10k).

Next milestone on chart: $100k in summer 2021.   And next: $1M in 2027.

bitcoin start 2017 with 1,000$ and may end 2017 more than 10,000$ so if every year increase 1000% will reach 1M in less than 10 years .

it is dreams but bitcoin can do it.

[cuteman]

I think the biggest threat to Bitcoin is inventing some new technology which will be able to break it - for example Quantum computers.  

Even announcing that such tool really exists may drop BTC price significantly, causing massive sellout.

[cuteman]

You can not make money from what everyone knows. I do not think bitcoin will reach 1m dollar in this sense. But still too many people dont know whats bitcoin. As it gain a widespread usage, its price will increase absolutely.

Sure.   There is a Metcalfe's law which states that the value of a network is proportional to the square of the number of connected users of the system (n2).

We know that each day Cinbase connect 100 000 new users (!!!).  This must lead to increase in usage of Bitcoin.

[cuteman]

bitcoin start 2017 with 1,000$ and may end 2017 more than 10,000$ so if every year increase 1000% will reach 1M in less than 10 years .

it is dreams but bitcoin can do it.

If it increased 10 times each year, it would reach 1M much faster than in 10 years.    In fact speed of increase loweres a little each year - you can see the figures on the graph, in the top line.

[BureauChef]

You can not make money from what everyone knows. I do not think bitcoin will reach 1m dollar in this sense. But still too many people dont know whats bitcoin. As it gain a widespread usage, its price will increase absolutely.

Sure.   There is a Metcalfe's law which states that the value of a network is proportional to the square of the number of connected users of the system (n2).

We know that each day Cinbase connect 100 000 new users (!!!).  This must lead to increase in usage of Bitcoin.

That was a good chart stuff honestly. And some bitcoin celebrities claim incredible prices for bitcoin in the future. They make their claims with respect to technical analysis. Let's wait and see the result patiently.

[cuteman]

Accounting ‘Big Four’ PwC accepts bitcoin payment in Hong Kong

The firm says it plans to broaden acceptance of digital currencies for payments

It is not immediately clear whether Hong Kong is the only branch within the PwC global network of offices that accepts bitcoin as payment. The firm said that apart from bitcoin, it would also accept other liquid, and established cryptocurrencies, especially from clients it advises in the broader crypto space.
For now, they include clients involved in token sales, crypto exchanges and launch of crypto funds.
“(This decision) is also an indication that bitcoin and other established cryptocurrencies have now developed into more broadly accepted forms of settlement,” said Raymund Chao, chairman of PwC Asia-Pacific in a statement on Thursday night.
A source closed to the firm said that with cryptocurrencies becoming more widely used, the firm was also prepared to consider requests from clients that do not participate in the digital currency sector.
“As the firm works increasingly with companies in the digital asset and cryptocurrency space, it believes that accepting such payments will evolve into an element of doing business in the normal course,” said the statement.

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More will follow 

[cuteman]

Another very nice chart in a logarithmic manner  

Log charts are better than linear charts in measuring performance over long periods of time. A jump from 1 to 30 will look tiny compared to a jump from 100 to 200 in a linear chart, even though it is a 3000% increase versus a 100% increase. A log chart fixes this problem.

We can see on this all-time price chart that since Bitcoin was invented, it has been on a steady upward climb, with some major swings in between. You’ll notice that in the early days, the swings were actually bigger and more volatile.

Three times in the history of Bitcoin, the price went parabolic, meaning it went almost straight upwards on the chart. An almost vertical climb on a log chart is hard to achieve unless the price goes up very very fast. This was the case in 2011 and twice in 2013. In both years, Bitcoin increased by at least 100-fold. As you can see, in this 2017 climb from $1,000 to $11,000, we haven’t formed a parabolic uptrend just yet. It will need to track upward towards $100K really fast for that to happen. We are not there yet and in fact, we have a long way to go.

[Omega Weapon]

Haha, I saw that chart too. The parabolic curve is about to go parabolic on a logarithmic scale

Makes you wonder if some day a Bitcoin will be worth more than a Rembrandt.

This is irrelevant, the most important thing is that a Rembrandt be priced on bitcoin instead of dollars, and instead of being marveled at the amount of millions of dollars the rich people use to buy it that we were marveled at the amount of bitcoin someone used to buy that Rembrandt and if things continue at the current pace it is very likely that future is going to become a reality.

[mx667]

Haha, I saw that chart too. The parabolic curve is about to go parabolic on a logarithmic scale Makes you wonder if some day a Bitcoin will be worth more than a Rembrandt.

This is irrelevant, the most important thing is that a Rembrandt be priced on bitcoin instead of dollars, and instead of being marveled at the amount of millions of dollars the rich people use to buy it that we were marveled at the amount of bitcoin someone used to buy that Rembrandt and if things continue at the current pace it is very likely that future is going to become a reality.

That is something very surprising. Maybe it could happen, but it takes a very long time. At the moment, I can only hope that the price of Bitcoin can reach $ 100,000 to give me a 10-fold profit on my investment. I have not thought for 10 years, if I wait for Bitcoin for 10 years, I think it will be too long for me, and I must be old. So I hope and monitor the price of Bitcoin for 2 or 3 years only. I hope the price of Bitcoin can increase to 10-fold or 20-fold in recent years. But I always wonder, is it because more and more people are using Bitcoin, Bitcoin prices are getting higher?

[fireblond]

Not going to lie you have a nice theory going on there with previous prices and btc growth, however there are a few things you need to keep in mind that play a role on price increase which are: Supply and demand. One of the reasons that the price of BTC sky rocketed this year is because a lot of new people entered the field of cryptocurrency which is great and with all this `new money` coming in the price of BTC increased for it to reach 1 million a lot of `new money` would have to come in on a regular basis! It's not impossible but rather unlikely maybe 10times the current price. Still very hard to predict.