Will Dollar worth 0.0001 BTC one day

[jones31]

I'm guessing for that  Bitcoin would have to be $40000, right? Very less likely.

Worst math ever?
Where did you get that 4 from 0.0001?
And is it "very less likely"?
Any arguments on this?

[jayburke]

sure , a Dollar worth 0.0001 BTC in 2050 

[jones31]

sure , a Dollar worth 0.0001 BTC in 2050 

I really don't get if you're Ironic or not. But with that 2050 I assume you are.
So? What is so funny or impossible about another 10x increase in bitcoin price?
Care to give some arguments?

[MoneyGod]

sure , a Dollar worth 0.0001 BTC in 2050 

but I am sure its touch this in 2015 because its a great deal now many realizing this even in Switzerland lawmakers doing work for this

[bitbox]

If BTC stays around for another 50 years, then it may hit 0.0001BTC per $ , but I don't see it coming in very new future. Fiat money are subject to inflation, we have to see how cryptocurrencies will cope with it. Imagine if somebody comes up with a new idea of internet currency and everyone will switch over to it from current cryptos, then we may see 1BTC = $0.0001 

[franz2]

One us $ will be 1 uBTC :-)

[lordoliver]

you can compare bitcoin to gold.
The current world wide gold amount is worth about $8.5 trillion;
Dividing this to the 21 Million of maximal bitcoins gives one bitcoin a value of:
8 500 000 000 000$ / 21 000 000 BTC ~ 404 761$/BTC

at the actual gold price...

[hoewer4what]

One us $ will be 1 uBTC :-)

This I doubt, it would mean 10 million USD / BTC. Even wall street analys showed max value to 0.1  million USD / BTC

[flynn]

One us $ will be 1 uBTC :-)

This I doubt, it would mean 10 million USD / BTC. Even wall street analys showed max value to 0.1  million USD / BTC

ooops : 1µBTC = 10^-6 BTC  thus 1BTC would be 1 Million $, not 10.  Just for clarification.

[RodeoX]

A dollar can't be worth BTC0.00001, dollars aren't backed by anything.   

[hoewer4what]

One us $ will be 1 uBTC :-)

This I doubt, it would mean 10 million USD / BTC. Even wall street analys showed max value to 0.1  million USD / BTC

ooops : 1µBTC = 10^-6 BTC  thus 1BTC would be 1 Million $, not 10.  Just for clarification.

Thanks for correction, makes it bit more likely, but still most likely not possible 

[franz2]

One us $ will be 1 uBTC :-)

This I doubt, it would mean 10 million USD / BTC. Even wall street analys showed max value to 0.1  million USD / BTC

ooops : 1µBTC = 10^-6 BTC  thus 1BTC would be 1 Million $, not 10.  Just for clarification.

I see 2 possibilities
Prize 1BTC <10$ in case it will forbidden all over the world or. The system will crash

Or 1 BTC > 10 000$ up to 1 000 000$ depends on timetable :-)

Nothing in between

[jones31]

A dollar can't be worth BTC0.00001, dollars aren't backed by anything.   

They will be backed by bitcoins!
Actually the US government is the only one that currently holds some and has stated that.
They didn't buy it on gox but they still hold some bitcoins 

[monte572]

I think BTC will become a widely accepted form of payment as well as other online coins. But this is down the road, It currently helps us but as for the masses it has some growing to do and I believe it will.

[franz2]

In the Future there should be something like bitcoin banks, for easy use.

For to use for normal people and not only nerds...

But is a long way to that.

Maybe in around 5-10 years, in case it will ever happen...

[franz2]

One us $ will be 1 uBTC :-)

This I doubt, it would mean 10 million USD / BTC. Even wall street analys showed max value to 0.1  million USD / BTC

ooops : 1µBTC = 10^-6 BTC  thus 1BTC would be 1 Million $, not 10.  Just for clarification.

Thanks for correction, makes it bit more likely, but still most likely not possible 

1 Satoshi = $0.01. Why isn't that possible?

I even guess, that this was the initial plan:
1 Satoshi = $0.01

And it's very handy for calculating ;-)

[hermann1983]

In the Future there should be something like bitcoin banks, for easy use.

For to use for normal people and not only nerds...

But is a long way to that.

Maybe in around 5-10 years, in case it will ever happen...

This reminds me of coinlenders 
Traditional Banks cannot offer this service I believe, so what company would you trust with your Bitcoins ? Coinbase? I dont.

[jones31]

In the Future there should be something like bitcoin banks, for easy use.

For to use for normal people and not only nerds...

But is a long way to that.

Maybe in around 5-10 years, in case it will ever happen...

Already a bank has been around and It din't go well at all.
Also , why entrust all the bitcoins with a bank?
Isn't that against everything bitcoins stands for?

In the whole Cyprus hype , people tried to see bitcoin as a safe value that the government can't get their hands on. And how were doing the opposite?

[jones31]

In the Future there should be something like bitcoin banks, for easy use.

For to use for normal people and not only nerds...

But is a long way to that.

Maybe in around 5-10 years, in case it will ever happen...

Already a bank has been around and It din't go well at all.
Also , why entrust all the bitcoins with a bank?
Isn't that against everything bitcoins stands for?

I don't think so. Bitcoin stands against central banks, but not necessarily against decentralized banks.

Most of the problems we have in the banking industry are due to central banks, not due to the concept of having a place to securely store money.

And to answer Hermann, yeah, I do trust Coinbase. More than I trust the locks on my front door or my virus-protection software, anyway. Not to mention more than the average non-techie should trust him/herself. And in the future we'll have easy access to split-key technologies, so you don't have to trust Coinbase 100%.

You can't deposit money to your central bank.The central bank , well in most countries, is not taking deposits from people.
They deal only with private owned banks and enforce decisions.

And if the government decides to shave 10% of bitcoin deposits , all banks will comply.
So , back to the Cyprus story but not with euros , with bitcoins

[jones31]

And if the government decides to shave 10% of bitcoin deposits , all banks will comply.
So , back to the Cyprus story but not with euros , with bitcoins

Well, that'd be unconstitutional here in the US, at least for the federal government, but assuming they got around the constitutional issues:

If the government imposes 10% intangible property tax on all citizens, I'm going to comply anyway.

If you already are or plan on engaging in criminal activity, then yeah, you probably shouldn't keep your money in the bank.
[/quote]

Well , wasn't bitcoin supposed to be a savior because the government can't impose this called tax on something that they can't prove it's yours?
And I don't envision the FBI running into every house and confiscate everything that could hold a wallet digital or physical.
There was a person who thought about having his pkey carved on a stone in the yard ))