Those who deny that BTC will rise to seven figures: clearly explain yourselves

[minarchist]

I have noticed that the bears on this board have a habit of simply asserting doom and gloom, and generally refusing to back it up in detail.  I have decided to focus on the macro level issue of where Bitcoin will ultimately go, and place the burden squarely on you.  If you deny that Bitcoin will have a market capitalization in the trillions of USD, then pick one of the five poll options.

[adamstgBit]

can you add an option for those of us that Believe. 

[telemaco]

The third mystery of fatima is getting closer and so we won't reach seven figures.

[Bitobsessed]

can you add an option for those of us that Believe. 

I was looking for this too.

[Carlton Banks]

BECOZ INTRINZIK VAL-U 

[nobbynobbynoob]

All of the above are possible, arguably with the exception of fiat lasting forever.

I'm actually not a "denier" (gosh don't we sound so cultish?) in that I'm about as bullish as they come. But I consider the downside risk very real - one key reason why we're not trading in four, five or six figures already - and it is not beyond conceivability that a new cryptocurrency could take over bitcoin. However, it seems fairly unlikely at this juncture, as whatever protocol/efficiency/scalability/etc. improvements this new altcoin might provide can be implemented in Bitcoin.

[minarchist]

The poll question specifically addresses those who do not believe.

[nobbynobbynoob]

The poll question specifically addresses those who do not believe.

Fair enough: strike my vote out if you wish, for I'm no bear.

[Bitobsessed]

The poll question specifically addresses those who do not believe.

It was more of a free bump than anything because I would like to know too.

[telemaco]

It does not matter:

There will be a 51% attack at a certain time in the future after the the asic centralization and the difficulty is huge and all the bitcoins assigned in the first 3 years of bitcoin will be deemed invalid.
The NWO will decide that all the money before that period and the satoshi risk is enough reason to fork the protocol and change the private key of all the <3 years, right before they joined the game.
They will probably add "two or three" other "small" changes "not that important".

They will compensate first bitcoin adventurers with a statue of satoshi in a detroit square.

[adamstgBit]

It does not matter:

There will be a 51% attack at a certain time in the future after the the asic centralization and the difficulty is huge and all the bitcoins assigned in the first 3 years of bitcoin will be deemed invalid.

lol what?

[Chainsaw]

The missing qualifier to this train of thought is - in today's money.

My hand-calculations got me close enough to accept/use the infamous $300,000 rpietila estimate as a long term value. But that estimate relies on two unknowns:
-The future growth in the number of accepted and used cryptocurrencies.
-The inflation relative to today's value of fiat dollars.

Net global worth is relatively fixed, so we're really discussing what percentage of global net worth will ultimately end up in Bitcoin.
Things get fuzzy when the question-asker(s) don't specify/don't know whether they mean Bitcoin or all cryptocurrencies, or today-money or future-value-money.

[minarchist]

It does not matter:

There will be a 51% attack at a certain time in the future after the the asic centralization and the difficulty is huge and all the bitcoins assigned in the first 3 years of bitcoin will be deemed invalid.

Who will conduct this attack?

[telemaco]

It does not matter:

There will be a 51% attack at a certain time in the future after the the asic centralization and the difficulty is huge and all the bitcoins assigned in the first 3 years of bitcoin will be deemed invalid.

lol what?

There will be a 51% attack at a certain time in the future after the the asic centralization and the difficulty is huge and all the bitcoins assigned in the first 3 years of bitcoin will be deemed invalid.
The NWO will decide that all the money before that period and the satoshi risk is enough reason to fork the protocol and change the private key of all the <3 years, right before they joined the game.
They will probably add "two or three" other "small" changes "not that important".

They will compensate first bitcoin adventurers with a statue of satoshi in a detroit square.

[xxjs]

The missing qualifier to this train of thought is - in today's money.

My hand-calculations got me close enough to accept/use the infamous $300,000 rpietila estimate as a long term value. But that estimate relies on two unknowns:
-The future growth in the number of accepted and used cryptocurrencies.
-The inflation relative to today's value of fiat dollars.

Net global worth is relatively fixed, so we're really discussing what percentage of global net worth will ultimately end up in Bitcoin.
Things get fuzzy when the question-asker(s) don't specify/don't know whether they mean Bitcoin or all cryptocurrencies, or today-money or future-value-money.

Here is my take:

The value of the bitcoin supply will be the sum of the holding preferences of all users. With holding preference I mean what value some person would like to have available as cash, measured in real good. For instance the value of one house plus the value of one car. Anything really, that was just an example.

But it is not so easy as dividing that by 21 million. It has to be adjusted for credit. In the fiat system, credit accounts for the major part of the money supply. But again, credit in bitcoin might be less, since it is possible to not deposit into banks, and remote payments can be done without deposit accounts.

[derpinheimer]

Bitcoin goes to 0.001USD

Another Crypto goes in to at least 5 digits.

[Chalkbot]

I chose "other" for the same reason we don't keep track of the exchange rate of puka shells to the dollar.

[Bitobsessed]

It does not matter:

There will be a 51% attack at a certain time in the future after the the asic centralization and the difficulty is huge and all the bitcoins assigned in the first 3 years of bitcoin will be deemed invalid.

lol what?

There will be a 51% attack at a certain time in the future after the the asic centralization and the difficulty is huge and all the bitcoins assigned in the first 3 years of bitcoin will be deemed invalid.
The NWO will decide that all the money before that period and the satoshi risk is enough reason to fork the protocol and change the private key of all the <3 years, right before they joined the game.
They will probably add "two or three" other "small" changes "not that important".

They will compensate first bitcoin adventurers with a statue of satoshi in a detroit square.

They can fork it all they want.  It does not deem previous bitcoins invalid LOL.  It is only as useful as the people that will use it.  They could become useless and valueless but not invalid on the current fork that "WE" want to use.  See where I am going with this, the community decides on which fork to use, not the NWO...

[adamstgBit]

It does not matter:

There will be a 51% attack at a certain time in the future after the the asic centralization and the difficulty is huge and all the bitcoins assigned in the first 3 years of bitcoin will be deemed invalid.

lol what?

There will be a 51% attack at a certain time in the future after the the asic centralization and the difficulty is huge and all the bitcoins assigned in the first 3 years of bitcoin will be deemed invalid.
The NWO will decide that all the money before that period and the satoshi risk is enough reason to fork the protocol and change the private key of all the <3 years, right before they joined the game.
They will probably add "two or three" other "small" changes "not that important".

They will compensate first bitcoin adventurers with a statue of satoshi in a detroit square.

They can fork it all they want.  It does not deem previous bitcoins invalid LOL.  It is only as useful as the people that will use it.  They could become useless and valueless but not invalid on the current fork that "WE" want to use.  See where I am going with this, the community decides on which fork to use, not the NWO...

WE are the NWO 

[ElectricMucus]

I don't have to explain myself.