if bitcoin cant scale how does it reach 1 million in 2020?

[Martinkuhn]

1 million is really optimistic but in the crypto world, anything is possible.

I do think that we should diversify to coins like ETH and NEO which has a stronger use case than BTC if we really want to benefit.

Anyway I think it will take a year or 2 before we really see the market cap of crypto cross 1 trillion even.. so 1 mil for BTC will be a few years away

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[krauzzer02]

if bitcoin can not scale if alot of transaction is taking place, how would it reach to 1 million predicted by mcafee? mcafee talks about mining cost and limited supply of bitcoin. forgot what else he says. but if bitcoin can not scale. would it reach to 1 million? lets say alot of merchants are taking bitcoin but it have gotten slow like a bank. is it as useful now?

Chances to hit 1 million USD by the year 2020 has a slim possibility, we can consider the unpredictable environment of cryptocurrency and its future developments like LN which can increase the percentage of its chances because of its improved features, scaling solution and wide adaptation still it's an exaggerated prediction of price to consider with, I just heard that his price prediction is 500k dollars so the bet increased to 1 mln per bitcoin? can't wait for the outcome in 2020 there would be a consequence if he loses the bet read his statement.

[pitiflin]

if bitcoin can not scale if alot of transaction is taking place, how would it reach to 1 million predicted by mcafee? mcafee talks about mining cost and limited supply of bitcoin. forgot what else he says. but if bitcoin can not scale. would it reach to 1 million? lets say alot of merchants are taking bitcoin but it have gotten slow like a bank. is it as useful now?

McAfee is an asshole. Did you know that? I bet your ass you didn't. Why is it that do you want bitcoin's price to go to one million? A benchmark sort of shit? Oh give me a break. McAfee says shit and you buy it like a clod. Don't pay heed to that guy. Just learn about bitcoin is what I can tell you. If you don't, then it's on you.

[Moiyah]

It is possible to occur but I believe it will take time before it happens. 1 million is not a joke. Mcafee only predicted it, we can never know what will really happen in the next few years. If maybe btc reached 1 million then it seems to be the big news in the whole world be cause it hit the biggest value in the crypto market. And bitcoin will be the most popular cryptocurrency by that time.

[krishnapramod]

1 million is somewhat a realistic figure, but definitely not attainable by 2020. There are scaling solutions in progress, but the challenge lies in how these solutions are accepted and how they help evolve the Bitcoin ecosystem to become a major part of the global financial system. Recently, FSB’s initial assessment about cryptocurrencies was that they don't pose risks to global financial stability at this time because the combined global market value was less than 1% of global GDP. If 1 million then 21 trillion (may be a lot less, lost coins) market cap, the GWP is approximately 78 trillion and for Bitcoin to reach somewhere the magic figure of 1 million then Bitcoin should be a dominant currency in the global economy, maybe hyperbitcoinization. Gold market share, global payment processing market share/ecommerce, stock market, remittances. The valuation should be sustainable.

[HasHe]

There are yet various other factors beyond scalability which has driven bitcoin's price this much higher.Despite transactions being slower before few months,still we saw its price skyrocketing towards 20,000 dollars.So that's not a big issue concerning bitcoin's price.

And now as an added advantage,segwit activation has enabled transactions at very low fee.But still the price of 1 million within next two years seems to be unrealistic.

[akram143]

There are yet various other factors beyond scalability which has driven bitcoin's price this much higher.Despite transactions being slower before few months,still we saw its price skyrocketing towards 20,000 dollars.So that's not a big issue concerning bitcoin's price.

And now as an added advantage,segwit activation has enabled transactions at very low fee.But still the price of 1 million within next two years seems to be unrealistic.

I can say bitcoin will not reach that value without the helps of its users and investors so we cannot predict it's prices but it reaches higher value by this situation so we cannot worry about that .

[BartS]

1 million is really optimistic but in the crypto world, anything is possible.

I do think that we should diversify to coins like ETH and NEO which has a stronger use case than BTC if we really want to benefit.

Anyway I think it will take a year or 2 before we really see the market cap of crypto cross 1 trillion even.. so 1 mil for BTC will be a few years away

Diversifying can be a good choice but if you already have an amount of bitcoins you are comfortable with I think you do not really have any reason to diversify, bitcoin is the strongest cryptocurrency in the market by far and that is possibly not going to change in a long time if ever, so a case could be made that for those that got a decent amount of bitcoin they do not really need to do anything else except make sure they do not lose their bitcoin, for everyone else like us we need to try to diversify our investments in order to make more profits with the increased risk that carries.