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Author Topic: 1 Million dollars per coin by year 2020. I am not kidding.  (Read 13512 times)
co5hike
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November 26, 2013, 12:39:54 AM
 #101

I agree, there is so much money there, 1 million dollars per coin is not unrelistic at all. It is only question of time when big players see oppurtunity to save some value to Bitcoin
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November 26, 2013, 03:11:42 AM
 #102

I dont know about a million dollars a coin.  Thats just ridiculous. "But"  In January when btc was $10 i would have told you its ridiculous to think btc would be approaching $1k 11 months later ..lol
 Its still ridiculous ..im just saying.

Really tho..

Maybe 32 trillion will help.. type "32 trillion" into any search engine and click enter. ( what do we have here )

http://www.levin.senate.gov/newsroom/press/release/senators-introduce-bill-to-close-offshore-tax-loopholes/

Tightening noose..

http://dealbook.nytimes.com/2013/08/30/tax-haven-closes-for-wealthy-americans/?_r=0

http://www.gggcpas.com/index.cfm/page/No-Place-to-Hide-International-Effort-Underway-to-Catch-Offshore-Tax-Evaders/cdid/11112/pid/10403

The money has got to go somewhere! For sure its not going to sit in those havens.

 


 



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Wardrick
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November 26, 2013, 04:51:23 AM
 #103

Or it could start getting banned in every country kind of like how online gambling got banned in the US. I highly doubt any country will allow a massive underground alternate currency to be traded w/o any kind of regulation. And that would also mean massive drug, sex, and crime trafficking because its anonymous, a lot more than there is now.


Ubiquitous and decentralized then it is impossible to ban. You cannot ban me from betting on a sporting event with my friends using my word of mouth. You cannot stop me from making any bet I want to make with my speech. Now that my speech is global and I can embed it into any electronics device you simply cannot do shit to stop me from that.

And if you stop me, the next version will be even more ubiquitous and decentralized until it's in everyone's clothes.

All the country would have to do is ban the sites that are used in Btc trading, like blockchain, mtgox, bitstamp etc. Take a look at North Korea, it can easily be done. It wouldn't completely stop people from using Btc, but it would put a huge dent in it. People will always find ways around it, like how people do in the countries that online gambling are banned in, but it will stop the majority of people from using it.
johnyj
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November 26, 2013, 11:29:43 AM
 #104

To reach that goal, devs must first solve the block size limit puzzle Roll Eyes

FiatKiller
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November 26, 2013, 02:24:37 PM
 #105

Or it could start getting banned in every country kind of like how online gambling got banned in the US. I highly doubt any country will allow a massive underground alternate currency to be traded w/o any kind of regulation. And that would also mean massive drug, sex, and crime trafficking because its anonymous, a lot more than there is now.


Ubiquitous and decentralized then it is impossible to ban. You cannot ban me from betting on a sporting event with my friends using my word of mouth. You cannot stop me from making any bet I want to make with my speech. Now that my speech is global and I can embed it into any electronics device you simply cannot do shit to stop me from that.

And if you stop me, the next version will be even more ubiquitous and decentralized until it's in everyone's clothes.

All the country would have to do is ban the sites that are used in Btc trading, like blockchain, mtgox, bitstamp etc. Take a look at North Korea, it can easily be done. It wouldn't completely stop people from using Btc, but it would put a huge dent in it. People will always find ways around it, like how people do in the countries that online gambling are banned in, but it will stop the majority of people from using it.

Yes, it would be a huge dent, but just jump on a plane with a flashdrive in your pocket and spend it in another country.
You could also get around URL bans with proxy servers like the chinese do everyday.

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Sindelar1938
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November 26, 2013, 04:06:07 PM
 #106

I think you are kidding

1mill is extremely unlikely to happen and it seems frivolous to even bandy that number about

Rival
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November 26, 2013, 04:29:43 PM
 #107

In order for a bitcoin to be worth 1 million dollars, the value of a dollar would have to become highly depreciated. Bitcoins are like a black hole that swallows the value from fiat currencies at an ever increasing rate. One does not go up without the other going down.

Additionally, by the time bitcoins are worth 1 million in inflation adjusted terms, no one will be holding hundreds, let alone thousands. It is socio-economic certainty that the coins will disperse. Even a billionaire has bills to pay.
antoineph
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November 26, 2013, 04:32:16 PM
 #108


Additionally, by the time bitcoins are worth 1 million in inflation adjusted terms, no one will be holding hundreds, let alone thousands. It is socio-economic certainty that the coins will disperse. Even a billionaire has bills to pay.

If you can't have both million dollar bitcoins and people who hold thousands, then it's the first that will never materialize not the second.
Luckybit
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November 27, 2013, 12:01:48 AM
 #109

pipe dream. other crypto currencies would pop up, which would bring down BTC value.

blockchain confirmations take too long for BTC to be ubiquitous.

A lot of you underestimate the size of the global economy. There are hundreds of trillions of dollars which can flow into Bitcoin or the others like Bitshares, Mastercoin or Colored Coin.

1 million dollars is not as big of a deal as you all seem to think.  I think $500,000 is realistic and even $100,000, but 1 million is also realistic and its just a matter of how long it will take to reach it.

or maybe you tend to believe the things you want to be true.

if BTC explodes and becomes ubiquitous, i am certain there will be other cryptocurrencies in the market.. and that would dilute the value of BTC down a bit. there are still issues with BTC that we don't know will be panned out.

hypothetically if BTC were 1 million dollars, that would be a major shift in the way the world works.

There will be other cryptocurrencies like Mastercoin and protoshares which could be worth much more than a Bitcoin in price. Mastercoins could go for millions of dollars each in the future.

Just because you cannot fathom the possibility it does not make the math of it incorrect. Do due diligence. Find that 1 million dollars is really not a lot of money when the market cap is in the hundreds of trillions.
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November 27, 2013, 12:08:43 AM
 #110

This is delusional, I dont think 6 figures are possible. 5? Sure, but not 6. The Goverment and "powers that be" are not going to let random NEET's that happened to mine and buy thousands of BTC back in the day when they were worth cents becoming the new world 1% clique, let alone people like us that clearly missed the boat and are hoping to become millonaires by owning not a couple BTC but one, lol. Not happening.
You're being a delusional conspiracy theorist. The government just wants maximum tax revenue and does not give a shit about who it comes from. In fact if its Democrats in office they probably like the idea of a new 1% because thats a new tax base for their social programs.

Hope for a 5 figure peak at best, and keep in mind nothing stops the powers that be to simply declare Bitcoins ilegal if it ever becomes a serious threat to the status quo. Remember the fundamental value of BTC is 0.
If Bitcoin is declared illegal then people who made millions and who are starting businesses will move to a country where it's not illegal. Why not declare the Internet illegal to prevent Bill Gates from joining the 1%? Do you have any idea how stupid your argument is? If they were going to do that they'd have banned the Internet in the 1980s to prevent people from getting rich off the dot com bubble. Do you really think the government looks that far into the future?

So, at this point in time, unless you are already a millonaire that can gamble a couple millions to buy BTC NOW, then wait a bit, see if it gets higher and sell, you are not going to be a millonaire by owning 1 BTC, not in a million years (oh, and we are talking about the purchasing power of current 1MM$, aka all that matters). I hope im wrong but common sense applies to what I said. We are too late to the party. If you are wealthy in BTC, IMO, sell as soon as it gets to 5 figures but be aware of the risk you are taking by not selling now.
PS: If there is a big crash in Bitcoins before a big crash in FIAT, I dont think no one is going to take Bitcoins for real anymore.

You're not even a bear. $10,000 is just as possible as $1000 and while it's not a certainty if you look at the political climate there is nothing to stop it from reaching $10,000 next year. I don't know how long it will take for a Bitcoin to be worth $1 million and I doubt the Bitcoin will be first to reach that price. I think Mastercoin will probably reach $1 million before the Bitcoin does because it builds on top of Bitcoin but in my opinion it's only a matter of time. Block reward halving, difficulty, scarcity, utility, all work in it's favor.
toy4lov3rs
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November 27, 2013, 12:43:39 AM
 #111

I doubt 1 Million dollars per coin will happen before 2020. First Bitcoin must handle much more transactions, and official client must have no blockchain version included like Electrum. Of course big merchant support is a must and it must be easy to exchange BTC to fiat and back in every city with bank ATMs. After this, 1 Million dollars is possible

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November 28, 2013, 01:21:02 AM
 #112

I noticed a few times in this thread people have said there are only $3trillion is existence... maybe printed dollar bills but far more than $3trillion dollars exist. Also, 60% of the printed dollars aren't in the US, they are held over seas as reserve currency.

The US is $17trillion dollars in debt, so there is $17trillion for a start. Then add on to that the money on the balance sheets of the banks and the money in holding over seas... there are $100's of trillion's of dollars that exist and the FED is printing an extra $85billion per month! You also need to take into consideration that the FED only prints 8% of the money in the US, 92% of the dollars that are printed, are created by the banks.

Then add into that the derivative market which is valued at $1.2quadrillion! That's Quad... with a Q!

Exactly, there's boatloads of dollars, printed dollars mean absolutely nothing, so many parties can just legally create dollars out of thin air they're basically worthless. Go to any bank and ask for a loan and if they agree to lend you money, that money is created out of nothing, just the very fact that you promise to pay them 'back' 'their' money, creates that money into existence. That's how banks work, and that's the main reason I believe in bitcoins, because money printing would become impossible and wealth would theoretically be distributed more fairly.
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