1 Million dollars per coin by year 2020. I am not kidding.

[Gordonium]

What do you think?

It's so funny to think that we are living a time where anyone with couple of hundreds dollars can just choose to be millionaire in a couple of years.

EDIT: And I am talking 1 million in todays dollars.

[1713484670]

1713484670

[Gyrsur]

42

[wopwop]

 

[crazy_rabbit]

Whenever these posts start appearing it means a crash is incoming.   

[Odrec]

Or 1 million bitcoins for one dollar. Anything is possible.

[adamstgBit]

Anything is possible.

[exstasie]

Would you like to donate some money to me then to help me out?   I really want to be a millionaire! lol

[Wilhelm]

$1000000 will be $1.52 in 5 years

[kireinaha]

[uMMcQxCWELNzkt]

If everyone who had 1 Bitcoin became a millionaire then the world would have far to many millionaires and that status would not be as prestigious as today. Some people have thousands of Bitcoin so do the math, its pretty much impossible.

[bitcoinator]

What do you think?

It's so funny to think that we are living a time where anyone with couple of hundreds dollars can just choose to be millionaire in a couple of years.

EDIT: And I am talking 1 million in todays dollars.

According to Wikipedia, there are 3 trillion of USD in existence. If bitcoin becomes as big as USD, then 1 btc would be $142000. So probably couple of hundreds dollars is not enough. Maybe couple of thousands of dollars is OK. And I don't think it will take just couple of years... maybe 20 years. Not bad anyway.

[FuriousTeam]

some will be billionaire then 

[VolanicEruptor]

its possible if it is used the same as fiat.. that's only a 12 trillion dollar market cap, which is still far away from ~60 trillion dollars of fiat in the world.

[ScrapOfCat]

Don't beat around the bush!  Bitcoin is so revolutionary that in 2020 the concept of 1 million dollars will be completely meaningless, and you'll have to explain what paper money was to your grandkids.

[Mirsad]

its possible if it is used the same as fiat.. that's only a 12 trillion dollar market cap, which is still far away from ~60 trillion dollars of fiat in the world.

It's possible, but there are a few assumptions:

There had to be a complete redistribution of wealth to achieve that
Or are all talking about fiat inflation and in 2020 you can buy 1 bread with 1 bitcoin worth 10 million usd?  

You can't meassure btc alone with fiat.
The import part is, what can you get for 1 btc.

If you can get a house (worth today 500k USD) with 1 coin, then there has to be some major redistribution. That means, we need a lot more fiat in this system, we even need all of it currently available. How likely is that? 1: 10^12 or even less.

It's like a pyramide. To increase the price, we need massive amounts of fiat.


I just ride the bitcoin train as long as it's driving, but I'm not as dellusional to believe we could even reach 1 million per bitcoin in current fiat value. That would be generation wealth out of thin air.

[Gordonium]

If everyone who had 1 Bitcoin became a millionaire then the world would have far to many millionaires and that status would not be as prestigious as today. Some people have thousands of Bitcoin so do the math, its pretty much impossible.

Well there can even theoretically be only 21 million people with 1 Bitcoin and of course the real number will be much lower because many people have much more and  all the lost coins etc. 

And today there is approximately 10 million people today with net worth more than 1 Million excluding their apartment. So your argument basically makes no sense what so ever.

[wobber]

Wannabe millionaires...

[bitcoinator]

I don't see how it is possible. Bitcoin capitalization of 21 trillion dollars is not possible in foreseeable future. Bitcoin should be 7 times more ubiquous than US dollar to make that possible. Not going to happen within a couple of years.

[Gordonium]

[bitcoinator]

Tax heaven bank accounts hold 30 trillion dollars? But there are only 3 trillion dollars in existence.

Similarly there are only 21 million bitcoins. But bitcoin banks could hold 210 million bitcoins off the block chain.

So I wouldn't compare capitalization of 21 million real bitcoins to capitalization of 30 trillion of virtual dollars.