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Author Topic: BTC 1 million dollars sooner than expected, I explain why...  (Read 2227 times)
donbu7
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November 27, 2013, 12:02:41 AM
 #1

There are very a few people in the world that owns at least 1 full BTC, as BTC gets so popular and many people is looking and willing to get BTC, but there are only 12 million BTC now and there would be only 21 million BTC (2140) what is going to happened is that the price of BTC has to go up to at least 1 millions dolars, so we could split 1BTC into .00000001 and by doing that every people in world could have and use mBTC or uBTC otherwise if we only remain with 12 million BTC at 1,000 usd each. there would be no enough BTC to satisfy peoples needs for it.
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November 27, 2013, 12:08:10 AM
 #2

I like your enthusiasm.

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November 27, 2013, 12:55:18 AM
 #3

a lot of assumptions are made, but i think eventually the bit coin might be worth 1 million or even more.

it will probably take several years though, and it might never happen. (although i hope it does happen)

The bitcoin price will only rise to a million if it actually does become a very popular currency, and in my opinion it's on its way to become one, but it's not quite there yet.

KieranJones1
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November 27, 2013, 02:34:52 AM
 #4

I don't think you quite understand the way Bitcoin works, but I'm certainly not an expert, so I'll let someone else clear that up for you.

I will say this, though; remember that one million is one thousand thousand. To put it in perspective, the all-time high of the consistently highest major USD/Bitcoin exchange (Mt. Gox) so far is just short of $1000, i.e. it's at one thousandth of your "goal".

A mass sale is enough to mess with Bitcoin's stability right now, and I can see a hell of a lot of early investors cashing out their thousands of BTC once the price hits $1500, or even $1000. I think we're going to struggle for at least a week before we see a consistent +$1000 BTC value.
hiltonizer
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November 27, 2013, 04:24:15 AM
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I think it a fools errand to speculate on valuation, and I think its almost consensus that bitcoin is a "binary investment".

It either becomes a substantial new standard and hits the moon, or is merely a relic of a 1.0 technology that has a small collectors value at best.

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November 27, 2013, 05:18:53 AM
 #6

Personally, I would wait and see if we can get some stability at ~$1000 before we consider it going up to anywhere close to a million. There's a lot of optimism now with the price skyrocketing but really I'm not sure whether we will stay there for any reasonable period of time.
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November 27, 2013, 05:48:28 AM
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It's a nice thought and I am all for optimism but 1m is a huge stretch even in a best case scenario

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