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Author Topic: 1 Million dollars per coin by year 2020. I am not kidding.  (Read 13508 times)
Okurkabinladin
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November 25, 2013, 10:03:47 AM
 #81

Other currencies are extre,ely unlikely to see network effects adequate to bootstrap significant adoption unless there is some external force applied, creating incentives.

Same thing was said about bitcoin until about year ago: Small, niche, hobby currency. That external force you are talking about is simply market demand  Wink cryptocurrencies are still in its early phase, so I doubt anybody can be sure about, who will be number one in ten years. Bitcoin has currently age and networking on its side. I remeber time, when Motorola was pioneer in the emerging field of mobile phones. Where is that company today?  Wink
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BitcoinFr34k
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November 25, 2013, 10:05:05 AM
 #82

I will take $10k per coin

That would make a decent enough impact on my life!

I would settle for this price by 2020. I would love to see a $1,000,000 but that seems pretty unlikely.
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November 25, 2013, 11:54:16 AM
 #83

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. 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.
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.

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November 25, 2013, 03:15:31 PM
 #84

To me the real limitation is the 21 million. Although it drives price to some degree... if businesses start accepting it on a large scale, then there may not be enough bitcoins available. Also, the govs. banks, credit card companies etc. that want to kill it only have to buy all the BTC up for sale and horde them, never releasing them again for sale. I am very bullish for the next 5 years for sure though.

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Apraksin
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November 25, 2013, 03:26:51 PM
 #85

To me the real limitation is the 21 million. Although it drives price to some degree... if businesses start accepting it on a large scale, then there may not be enough bitcoins available. Also, the govs. banks, credit card companies etc. that want to kill it only have to buy all the BTC up for sale and horde them, never releasing them again for sale. I am very bullish for the next 5 years for sure though.

You've been here since april, surely you have read enough around to know that the 21 million can be divided into mbtc, nbtc etc? Also, if anyone tries to buy all the BTC's we will get filthy rich and another crypto would take BTC's place.
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November 25, 2013, 05:46:27 PM
 #86

To me the real limitation is the 21 million. Although it drives price to some degree... if businesses start accepting it on a large scale, then there may not be enough bitcoins available. Also, the govs. banks, credit card companies etc. that want to kill it only have to buy all the BTC up for sale and horde them, never releasing them again for sale. I am very bullish for the next 5 years for sure though.

You've been here since april, surely you have read enough around to know that the 21 million can be divided into mbtc, nbtc etc? Also, if anyone tries to buy all the BTC's we will get filthy rich and another crypto would take BTC's place.

Oh, I agree that us "mid-adopters" will get rich. Counting on it, actually. I don't know if another crypto could get a foothold too easily. Look at how much trouble litecoin is having. They should probably take what we all consider to be the flaws and improvements needed, and start anothe crypto now and maybe name in something indicating a relationship like Bitcoin 2.0

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November 25, 2013, 06:18:54 PM
 #87

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. 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.
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.


So true.
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November 25, 2013, 06:21:06 PM
 #88

To me the real limitation is the 21 million. Although it drives price to some degree... if businesses start accepting it on a large scale, then there may not be enough bitcoins available. Also, the govs. banks, credit card companies etc. that want to kill it only have to buy all the BTC up for sale and horde them, never releasing them again for sale. I am very bullish for the next 5 years for sure though.

You cant buy all BTC because not everyone is selling cheaply. This is definitively not a way for banks, credit card companies etc. to destroy Bitcoin
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November 25, 2013, 06:50:43 PM
 #89

I'll sell my coin for $1 mill, any takers?

once I sold, now I hold: 1NmPGsSFQdRYbBQbYyBhVs7aiqYF7mpbAB
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November 25, 2013, 06:55:43 PM
 #90

I'll sell my coin for $1 mill, any takers?

Not yet.

The problem is not your coin though. It is worth $1mill. Fair price.

The problem is there are still tons of coins available that are much cheaper.. on Gox, Stamp, coinbase....

Once these are all sold you can sell yours for its real value.
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November 25, 2013, 07:16:23 PM
 #91



The Bitcoin price in this graph should be 31 December 2011 and NOT 31 December 2012

Rygon
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November 25, 2013, 07:59:19 PM
 #92

I prefer to value my BTC in terms of how many Big Mac's at the McDonald's down the street that I can buy with one Bitcoin. It's been hovering around 190 lately, so I'm pretty happy with that, lol. The only problem is that I'm really tempted to order 190 Big Mac's.
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November 25, 2013, 08:11:23 PM
 #93



The Bitcoin price in this graph should be 31 December 2011 and NOT 31 December 2012

Nope, believe it or not, that was the price less than a year ago.

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November 25, 2013, 08:13:08 PM
 #94



The Bitcoin price in this graph should be 31 December 2011 and NOT 31 December 2012

Nope, believe it or not, that was the price less than a year ago.

No it wasn't: http://bitcoincharts.com/charts/mtgoxUSD#rg360zig15-minzczsg2012-12-01zeg2012-12-31ztgSzm1g10zm2g25zv (it was ~$13.5)

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November 25, 2013, 08:43:37 PM
 #95

I prefer to value my BTC in terms of how many Big Mac's at the McDonald's down the street that I can buy with one Bitcoin. It's been hovering around 190 lately, so I'm pretty happy with that, lol. The only problem is that I'm really tempted to order 190 Big Mac's.

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November 25, 2013, 09:02:51 PM
 #96

maybe. but most people wont hold their coins. so thats the problem (for the most)

Bitcopia
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November 25, 2013, 11:28:29 PM
 #97



The Bitcoin price in this graph should be 31 December 2011 and NOT 31 December 2012

Nope, believe it or not, that was the price less than a year ago.

No it wasn't: http://bitcoincharts.com/charts/mtgoxUSD#rg360zig15-minzczsg2012-12-01zeg2012-12-31ztgSzm1g10zm2g25zv (it was ~$13.5)

Image shows $13.43.

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November 25, 2013, 11:40:15 PM
 #98

The Goverment and "powers that be" are not going to let [it]

Good luck with that then.

Remember the fundamental value of BTC is 0.

Thank you for playing.  You lost.  You don't appear to understand how to value money.  PQ=MV.

I hope im wrong but common sense applies to what I said.

You are in luck:  You are wrong.  Common sense applied to what you said rejects it as erroneous emotional content, devoid of facts or logic.

Give a man a fish and he eats for a day.  Give a man a Poisson distribution and he eats at random times independent of one another, at a constant known rate.
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November 25, 2013, 11:43:31 PM
 #99

maybe. but most people wont hold their coins. so thats the problem (for the most)

Quite opposite, coins in circulation is best for Bitcoin adoption.

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November 26, 2013, 12:09:36 AM
 #100

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!

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