How to grow bitcoin price to $176,190.48?

[ournetinternational]

How to grow bitcoin price to $176,190.48?

Firts let's consider 3 different scenarios for bitcoin price.

1- Better Scenario: If we can move all the circulation money in the world into bitcoin, bitcoin price could achieve $176,190.48 per unit  of bitcoin.
All the money in the world are base in USA dollar.

Regarding Federal Reserv (M1 money in circulation) is 3.7 trillion U.S dollars and maximum amount of bitcoin issued e would be 21 million, so $3,700,000,000,000.00/ BTC21.000.000 = $176,190.48
Ref: https://www.investopedia.com/terms/m/moneysupply.asp

2- Scenario based on e-commerce sales worldwide in 2017: If every body that purchase on internet make it using bitcoin, bitcoin price could achieve $$135,333.33 per unit  of bitcoin.

In 2017, retail e-commerce sales worldwide amounted to 2840 billions U.S dollars , so $2,842,000,000,000.00/ BTC21.000.00=$135,333.33
Ref:https://www.statista.com/statistics/379046/worldwide-retail-e-commerce-sales/

3- Worse Scenario based only on PayPal's total payment volume last year 2018: Let's suppose that bitcoin, will be used  only by people who had been used some online payment processor, like a paypal because most people think that bitcoin "is so difficult to they use". $21,476.19 per unit of bitcoin.

In 2018 payment provider's volume amounted to 451 billion U.S dollars , so $451,000,000,000.00/ BTC21.000.00=$21,476.19
Ref:https://www.statista.com/statistics/277841/paypals-total-payment-volume/


Now, my personal opinion in order to answer the question.

Solution is simple, Putting up bitcoin as flow cash in the economic by rich bitcoin owners
I think a big drawback that stagnates the growth of bitcoin, is major amount of bitcoin are  owned by handful of a  rich person that are waiting some miracle on laws regularization; and other handful of people, are waiting for it increase in value without, them having to do anything. If we want to make grow bitcoin we need to make the economy move with bitcoin; it is only possible if rich people on bitcoin are dispose to distribute satoshis for free, across purchase vouchers for example, bonus for markets and stores that urge to customers to use bitcoin or any similar ways that allow put satoshis like a flow cash in the economic. In such a way when people receive some satoshis they will have to spend it and they can not will keep saved anymore, in this way we can revolution the economic making grow Bitcoin.
Off course, rich people will have to see it like a investment because in the future they can get back your investment across bitcoin valorization, because if bitcoin increase in use, the price increase as we well know.

I know nobody could not controller it, but my proposal is a bounty campaign across to motivation methods in such a way when people receive some satoshis they will have to spend it (without sale it) and they can not will keep saved anymore.

I think that rich bitcoin owners only have two options, spend bitcoins encouraging the market and growing bitcoin economic  or save your bitcoins eternally, while the banks and through scam campaigns bring the price of bitcoin to 0.

When I  reefer to "rich bitcoin owners" I am referring people to have over hundreds of bitcoins, and they could spend(Invest) a few satoshis without too affected  your balance.


In other words give satoshis to any body and urge them to spend it

What do you think about it?

If  you liked my job, please support me.
Bitcoin Address : 33Pha5BWK1Qm9hWS8383Cpj9xZHSBgF3Eg

Thankyou by attention.
Please, recommend this post.
Another references:
https://www.quora.com/Money-Supply-What-is-M0-M1-M2-and-M3?share=1

[1715139417]

1715139417

[1715139417]

1715139417

[satosibtc1000]

How to grow bitcoin price to  $176,190,476.19?

Firts let's consider 3 different scenarios for bitcoin price.

1- Better Scenario: If we can move all the circulation money in the world into bitcoin, bitcoin price could achieve $176,190,476.19 per unit  of bitcoin.
All the money in the world are base in USA dollar.

Regarding Federal Reserv (M1 money in circulation) is 3.7 trillion U.S dollars and maximum amount of bitcoin issued e would be 21 million, so $3,700,000,000,000,000.00/ BTC21.000.000 = $176,190,476.19
Ref: https://www.investopedia.com/terms/m/moneysupply.asp

2- Scenario based on e-commerce sales worldwide in 2017: If every body that purchase on internet make it using bitcoin, bitcoin price could achieve $$135,333.33 per unit  of bitcoin.

In 2017, retail e-commerce sales worldwide amounted to 2840 billions U.S dollars , so $2,842,000,000,000.00/ BTC21.000.00=$135,333.33
Ref:https://www.statista.com/statistics/379046/worldwide-retail-e-commerce-sales/

3- Worse Scenario based only on PayPal's total payment volume last year 2018: Let's suppose that bitcoin, will be used  only by people who had been used some online payment processor, like a paypal because most people think that bitcoin "is so difficult to they use". $21,476.19 per unit of bitcoin.

In 2018 payment provider's volume amounted to 451 billion U.S dollars , so $451,000,000,000.00/ BTC21.000.00=$21,476.19
Ref:https://www.statista.com/statistics/277841/paypals-total-payment-volume/


Now, my personal opinion in order to answer the question.

Solution is simple, Putting up bitcoin as flow cash in the economic by rich bitcoin owners
I think a big drawback that stagnates the growth of bitcoin, is major amount of bitcoin are  owned by handful of a  rich person that are waiting some miracle on laws regularization and other handful of people, are waiting for it increase in value without, them having to do anything. If we want to make grow bitcoin we need to make the economy move with bitcoin; it is only possible if rich people on bitcoin are dispose to distribute satoshis for free, across purchase vouchers for example, bonus for markets and stores that urge to customers to use bitcoin or any similar ways that allow put satoshis like a flow cash in the economic. In such a way when people receive some satoshis they will have to spend it and they can not will keep saved anymore, in this way we can revolution the economic making grow Bitcoin.
Off course, rich people will have to see it like a investment because in the future they can get back your investment across bitcoin valorization, because if bitcoin increase in use, the price increase as we well know.

In other words give satoshis to any body and urge them to spend it

What do you think about it?

If  you liked my job, please support me.
Bitcoin Address : 33Pha5BWK1Qm9hWS8383Cpj9xZHSBgF3Eg

Thankyou by attention.

Another references:
https://www.quora.com/Money-Supply-What-is-M0-M1-M2-and-M3?share=1

Honestly, it was interesting to read about your theory of bitcoin growth, but I think that this is just a theory because I doubt that it is all possible in practice. Perhaps in the distant future this will happen because bitcoin, too, when it was worthless. Miracles happen.)

[mk4]

If we want to make grow bitcoin we need to make the economy move with bitcoin; it is only possible if rich people on bitcoin are dispose to distribute satoshis for free, across purchase vouchers for example, bonus for markets and stores that urge to customers to use bitcoin or any similar ways that allow put satoshis like a flow cash in the economic. In such a way when people receive some satoshis they will have to spend it and they can not will keep saved anymore, in this way we can revolution the economic making grow Bitcoin.

How's that going to help? Give out your bitcoin then what? Then the people would use the vouchers; getting people to use the vouchers wouldn't get them to use bitcoin at all. Or if you straight up give the people some bitcoin, then they could just simply sell it. If you want the masses to use bitcoin, then simply give them a reason to. Giving discounts can help, but them knowing the risks of having their bitcoin dropping in price? I don't think so.

[ournetinternational]

If we want to make grow bitcoin we need to make the economy move with bitcoin; it is only possible if rich people on bitcoin are dispose to distribute satoshis for free, across purchase vouchers for example, bonus for markets and stores that urge to customers to use bitcoin or any similar ways that allow put satoshis like a flow cash in the economic. In such a way when people receive some satoshis they will have to spend it and they can not will keep saved anymore, in this way we can revolution the economic making grow Bitcoin.

How's that going to help? Give out your bitcoin then what? Then the people would use the vouchers; getting people to use the vouchers wouldn't get them to use bitcoin at all. Or if you straight up give the people some bitcoin, then they could just simply sell it. If you want the masses to use bitcoin, then simply give them a reason to. Giving discounts can help, but them knowing the risks of having their bitcoin dropping in price? I don't think so.

Thankyou for reading, I know that I am dreamer, but in order to try answer your main question, I wrot it above, We must design some motivation method in such a way when people receive some satoshis they will have to spend it (without sale it) and they can not will keep saved anymore.

It is only my humble opinion.

[mk4]

Thankyou for reading, I know that I am dreamer, but in order to try answer your main question, I wrot it above, We must design some motivation method in such a way when people receive some satoshis they will have to spend it (without sale it) and they can not will keep saved anymore.

It is only my humble opinion.

Where would they get the satoshis from though? Bitcoin is not a sort of business that a CEO or someone in authority can just decide that they would give out satoshis to the people for them to try it out.

One of the only ways to get people to use bitcoin for day-to-day payments, if it's better(or at least if you manage to convince them) than fiat money in a lot of categories.

[Harlot]

Why are you expecting this thing to happen? You know the scenarios you have given are not in our control and nobody is dumb enough to push that kind of price for a volatile currency. Another reason that this would fail is a lot of people will be dumping Bitcoin any time they see that they are satisfied with the price. If a lot of people got greedy before BTC reached 20,000$ why would you think that those prices could be achievable even if they have somehow agreed with your plan.

[ournetinternational]

Why are you expecting this thing to happen? You know the scenarios you have given are not in our control and nobody is dumb enough to push that kind of price for a volatile currency. Another reason that this would fail is a lot of people will be dumping Bitcoin any time they see that they are satisfied with the price. If a lot of people got greedy before BTC reached 20,000$ why would you think that those prices could be achievable even if they have somehow agreed with your plan.

Thank you for reading. The 3 before scenarios are statics and math based and it is long term thinking, I know nobody could not controller it, but my proposal is a bounty campaign across to motivation method in such a way when people receive some satoshis they will have to spend it (without sale it) and they can not will keep saved anymore.

Off course like @mjglqw said before, "Bitcoin is not a sort of business that a CEO or someone in authority can just decide that they would give out satoshis" but i think that rich bitcoin owners only have two options, spend bitcoins encouraging the market and growing bitcoin economic  or save your bitcoins eternally while the banks through scam campaigns bring the price of bitcoin to 0.

When I  reefer to "rich bitcoin owners" I am referring people to have over hundreds of bitcoins, and they could spend(Invest) a few satoshis without too affected  your balance.

Please, recommend this post.

[ournetinternational]

Thankyou for reading, I know that I am dreamer, but in order to try answer your main question, I wrot it above, We must design some motivation method in such a way when people receive some satoshis they will have to spend it (without sale it) and they can not will keep saved anymore.

It is only my humble opinion.

Where would they get the satoshis from though? Bitcoin is not a sort of business that a CEO or someone in authority can just decide that they would give out satoshis to the people for them to try it out.

One of the only ways to get people to use bitcoin for day-to-day payments, if it's better(or at least if you manage to convince them) than fiat money in a lot of categories.

I know nobody could not controller it, but my proposal is a bounty campaign across to motivation method.

When I  reefer to "rich bitcoin owners" I am referring people to have over hundreds of bitcoins, and they could spend(Invest) a few satoshis without too affected  your balance.

I think that rich bitcoin owners only have two options, spend bitcoins encouraging the market and growing bitcoin economic  or save your bitcoins eternally while the banks through scam campaigns bring the price of bitcoin to 0.


Please, recommend this post.

[Kiir]

Any plan that involves people giving their own money away for free to other people is NOT happening.

Why did BTC get to 20k in the first place? Greed.

Human race will NEVER share like that on a large scale. NEVER.

It's a nice sentiment, but no.

[xWolfx]

It is certainly an interesting idea that could work in any of the three even when not in a so absolute way, at least not in a very long time.

The thing is setting up processes that make sure everyone involved in supporting the process itself earns from it at different degrees depending on their contribution. Rewards must exist or few people will do it.

[ournetinternational]

Any plan that involves people giving their own money away for free to other people is NOT happening.

Why did BTC get to 20k in the first place? Greed.

Human race will NEVER share like that on a large scale. NEVER.

It's a nice sentiment, but no.

Thanks by opinion, but I would quote a proverb "The difficult is done at once, the impossible takes a little longer".
It is dream, I know but if we have a plan we can turn dreams into realities.

Please, recommend this post.

[cd74reg]

How about this novel idea. It is actually a proven system that works!

Print up 2 billion tethers. Put tethers to work buying bitcoin non-stop. When there is less than 10% tethers remaining in the purse then start selling the BTC off. The buying frenzy will absorb much of the BTC sales. When all of the BTC has been sold off you should be left with a price at least double the previous low.

Then repeat every 2-3 years. Happy trading.

[ournetinternational]

How about this novel idea. It is actually a proven system that works!

Print up 2 billion tethers. Put tethers to work buying bitcoin non-stop. When there is less than 10% tethers remaining in the purse then start selling the BTC off. The buying frenzy will absorb much of the BTC sales. When all of the BTC has been sold off you should be left with a price at least double the previous low.

Then repeat every 2-3 years. Happy trading.

Unfortunately Bitcoin always will have obstacles handled by dark and selfish interests.
The way is no easy, but it is possible.

[kelz1]

All of these scenarios are completely unrealistic. It would be better to use gold for comparison or even silver and what the price would be if they were swapped for bitcoin as a financial reserve

[ournetinternational]

All of these scenarios are completely unrealistic. It would be better to use gold for comparison or even silver and what the price would be if they were swapped for bitcoin as a financial reserve

You are thinking in bitcoin like an asset, but If you analyze it like a currency all scenarios are likely. All them are statics and math based.

[Kiir]

All of these scenarios are completely unrealistic. It would be better to use gold for comparison or even silver and what the price would be if they were swapped for bitcoin as a financial reserve

You are thinking in bitcoin like an asset, but If you analyze it like a currency all scenarios are likely. All them are statics and math based.

You're forgeting one important, maybe the most important, part of the equasion.

People. People f*ck up even the most utopian ideas ever, no matter how perfect you make it.
Again, greeed. Repeat after me: Greeeeeeeeeeeeeeed.

It has moved almost every single bad move in the history of mankind and it will be the doom of us, in one shape or another.

[mu_enrico]

1- Better Scenario: If we can move all the circulation money in the world into bitcoin, bitcoin price could achieve $176,190,476.19 per unit  of bitcoin.

In other words give satoshis to any body and urge them to spend it

What do you think about it?

Don't you think the current bitcoin network condition isn't possible to do that? What about maximum TPS? What about miner fees? Before bitcoin could achieve that market cap, it needs major improvement. In other words, bitcoin need organic (continuous) growth so it could evolve as the market grows.

[ournetinternational]

1- Better Scenario: If we can move all the circulation money in the world into bitcoin, bitcoin price could achieve $176,190,476.19 per unit  of bitcoin.

In other words give satoshis to any body and urge them to spend it

What do you think about it?

Don't you think the current bitcoin network condition isn't possible to do that? What about maximum TPS? What about miner fees? Before bitcoin could achieve that market cap, it needs major improvement. In other words, bitcoin need organic (continuous) growth so it could evolve as the market grows.

I agree with you, infrastructure need to be improved(it is work for development team), but we are a community and can run different parallel tasks in order to improve bitcoin in a whole.
My proposal is long term vision and need hard work together.

[Betwrong]

~
Regarding Federal Reserv (M1 money in circulation) is 3.7 trillion U.S dollars and maximum amount of bitcoin issued e would be 21 million, so $3,700,000,000,000,000.00/ BTC21.000.000 = $176,190,476.19
~

You have added 3 too many zeros there.

3.7 trillion = 3,700,000,000,000.00, not 3,700,000,000,000,000.00

And consequently the price for 1 Bitcoin in your Better Scenario would be 176 thousand, not 176 million.

Also, I think right now most people are so afraid of cryptos that they would not accept free satoshis even if the rich holders were giving it away(which is very unlikely, but that's another question).

[pterodactyll]

Yes, I agree with you. But the simplest and most easily implemented solution is to simply start using bitcoin in real life. Over time, when people realize that it is more convenient and safer, Bitcoin will greatly increase in price. The remaining stages of the introduction of Bitcoin can be carried out after this

[Bitlocker_A]

It is a good theory, but as said above, this is only a theory. Nobody will give their bitcoins. Because people are greedy creatures. They have invested and are waiting only for growth 

[ournetinternational]

~
Regarding Federal Reserv (M1 money in circulation) is 3.7 trillion U.S dollars and maximum amount of bitcoin issued e would be 21 million, so $3,700,000,000,000,000.00/ BTC21.000.000 = $176,190,476.19
~

You have added 3 too many zeros there.

3.7 trillion = 3,700,000,000,000.00, not 3,700,000,000,000,000.00

And consequently the price for 1 Bitcoin in your Better Scenario would be 176 thousand, not 176 million.

Also, I think right now most people are so afraid of cryptos that they would not accept free satoshis even if the rich holders were giving it away(which is very unlikely, but that's another question).

Thank you for read and correct me, I am so sorry, it was a big mistake (3.7* 10^13 = $3,700,000,000,000.00) I'm going to rectify right now.

[erikoy]

Well this is not ideal. If you want to bitcoin to go hype then look for the good news that will surely affect bitcoin market price. Compile it all here so that other investors can read make it a positive resource that will encourage others also to invest in bitcoin. FOr sure, little by little it will go hype for bitcoin. Anyway, let us all be patient for now because we are still in the bear market.

[1Referee]

Don't you think the current bitcoin network condition isn't possible to do that? What about maximum TPS? What about miner fees? Before bitcoin could achieve that market cap, it needs major improvement. In other words, bitcoin need organic (continuous) growth so it could evolve as the market grows.

TPS is a useless metric at this point in time. It's what shitcoins use to advertise themselves with, but still, no one gives a shit. You can have 1 million TPS, but if no one is using your network, what's it worth?

Bitcoin has been doing 2-5 TPS for years and years, and it continues to gain value like crazy, so will it in the forthcoming years. What matters here is that people can and will use higher fees to front run your transactions if they feel there is an incentive to do so. We have seen that during and after the bull run with how the fees spiked up rapidly.

If you like high TPS counts, then dive into LN. There is basically no TPS limit over there.

[jrrsparkles]

Thats good read but what we hae to face if all the people started to use bitcoin,you nwwd to remember the transaction fee went $100 or more per transaction and with waiting time of many hours even when small people started to use back in 2017 and can't imagine how much the fee will be if the price of bitcoin reached your assumption value.

[mu_enrico]

TPS is a useless metric at this point in time. It's what shitcoins use to advertise themselves with, but still, no one gives a shit. You can have 1 million TPS, but if no one is using your network, what's it worth?

Wut? Seriously?
Didn't I say "bitcoin need organic (continuous) growth so it could evolve as the market grows" at the moment that materializes into LN, but maybe core team will come up with new innovation.

Bitcoin has been doing 2-5 TPS for years and years, and it continues to gain value like crazy, so will it in the forthcoming years. What matters here is that people can and will use higher fees to front run your transactions if they feel there is an incentive to do so. We have seen that during and after the bull run with how the fees spiked up rapidly.

So you believe that 2-5 TPS (1MB block*) would be sufficient to accommodate waves of new users?
*Before segwit.

Let's say 1 BTC = $1,000,000 then how much is the miner fee? hundreds of dollars?

If you like high TPS counts, then dive into LN. There is basically no TPS limit over there.

Sure, I have a high hope that LN would work. If not then, there must be some new innovation to increase TPS.

[biskitop]

it has been expected by many people, that bitcoin can become part of the economy legally as well as legal investment assets and can make its value continue to grow. because there will be no doubt when bitcoin becomes legal in economic terms.

[playboy654]

How to grow bitcoin price to $176,190.48?

Firts let's consider 3 different scenarios for bitcoin price.

1- Better Scenario: If we can move all the circulation money in the world into bitcoin, bitcoin price could achieve $176,190.48 per unit  of bitcoin.
All the money in the world are base in USA dollar.

Regarding Federal Reserv (M1 money in circulation) is 3.7 trillion U.S dollars and maximum amount of bitcoin issued e would be 21 million, so $3,700,000,000,000.00/ BTC21.000.000 = $176,190.48
Ref: https://www.investopedia.com/terms/m/moneysupply.asp

2- Scenario based on e-commerce sales worldwide in 2017: If every body that purchase on internet make it using bitcoin, bitcoin price could achieve $$135,333.33 per unit  of bitcoin.

In 2017, retail e-commerce sales worldwide amounted to 2840 billions U.S dollars , so $2,842,000,000,000.00/ BTC21.000.00=$135,333.33
Ref:https://www.statista.com/statistics/379046/worldwide-retail-e-commerce-sales/

3- Worse Scenario based only on PayPal's total payment volume last year 2018: Let's suppose that bitcoin, will be used  only by people who had been used some online payment processor, like a paypal because most people think that bitcoin "is so difficult to they use". $21,476.19 per unit of bitcoin.

In 2018 payment provider's volume amounted to 451 billion U.S dollars , so $451,000,000,000.00/ BTC21.000.00=$21,476.19
Ref:https://www.statista.com/statistics/277841/paypals-total-payment-volume/


Now, my personal opinion in order to answer the question.

Solution is simple, Putting up bitcoin as flow cash in the economic by rich bitcoin owners
I think a big drawback that stagnates the growth of bitcoin, is major amount of bitcoin are  owned by handful of a  rich person that are waiting some miracle on laws regularization and other handful of people, are waiting for it increase in value without, them having to do anything. If we want to make grow bitcoin we need to make the economy move with bitcoin; it is only possible if rich people on bitcoin are dispose to distribute satoshis for free, across purchase vouchers for example, bonus for markets and stores that urge to customers to use bitcoin or any similar ways that allow put satoshis like a flow cash in the economic. In such a way when people receive some satoshis they will have to spend it and they can not will keep saved anymore, in this way we can revolution the economic making grow Bitcoin.
Off course, rich people will have to see it like a investment because in the future they can get back your investment across bitcoin valorization, because if bitcoin increase in use, the price increase as we well know.

I know nobody could not controller it, but my proposal is a bounty campaign across to motivation methods in such a way when people receive some satoshis they will have to spend it (without sale it) and they can not will keep saved anymore.

I think that rich bitcoin owners only have two options, spend bitcoins encouraging the market and growing bitcoin economic  or save your bitcoins eternally, while the banks and through scam campaigns bring the price of bitcoin to 0.

When I  reefer to "rich bitcoin owners" I am referring people to have over hundreds of bitcoins, and they could spend(Invest) a few satoshis without too affected  your balance.


In other words give satoshis to any body and urge them to spend it

What do you think about it?

If  you liked my job, please support me.
Bitcoin Address : 33Pha5BWK1Qm9hWS8383Cpj9xZHSBgF3Eg

Thankyou by attention.
Please, recommend this post.
Another references:
https://www.quora.com/Money-Supply-What-is-M0-M1-M2-and-M3?share=1

Yes people will be the only way to develop the Bitcoin to the normal position very easily the following tips are also important to follow by lots of people and uses to develop their investment and all over the cryptocurrency field also.

[ralle14]

Giving out free satoshis won't work the price have to go at least $1 million for them to have value and before you can spend those satoshis you have to find a way to afford miner fees. Spending Bitcoins is only one way to drive the price up and if it weren't for the Bitcoin traders the price probably won't go this high.

It sounds simple but it's hard to encourage others to spend their Bitcoin. Also it's worth mentioning that there are lost and burned coins so the price could go higher than what is mentioned in the OP.

Edit :For others posting in the thread please stop quoting the entire first post.

[Betwrong]

~

Let's say 1 BTC = $1,000,000 then how much is the miner fee? hundreds of dollars?
~

Please correct me if I'm wrong, but I think that:

1. The minimum fee can be 1 satoshi/byte, and therefore if 1 BTC = $1,000,000, the fee for a typical Bitcoin transaction, ~250 bytes, can be $2.50

Code:

$1,000,000 / 100,000,000 sats = $0.01 per 1 satoshi

0.01 * 250 = 2.50

2. A miner who finds a block receives all the transaction fees and the block reward (12.5 BTC currently), so if 1 Bitcoin was $1 million, miners could start including transactions without any fees at all because the block reward (millions of USD in that case) would be enough.

[Wilhelm]

~

Let's say 1 BTC = $1,000,000 then how much is the miner fee? hundreds of dollars?
~

Please correct me if I'm wrong, but I think that:

1. The minimum fee can be 1 satoshi/byte, and therefore if 1 BTC = $1,000,000, the fee for a typical Bitcoin transaction, ~250 bytes, can be $2.50

Code:

$1,000,000 / 100,000,000 sats = $0.01 per 1 satoshi

0.01 * 250 = 2.50

2. A miner who finds a block receives all the transaction fees and the block reward (12.5 BTC currently), so if 1 Bitcoin was $1 million, miners could start including transactions without any fees at all because the block reward (millions of USD in that case) would be enough.

As far as I know Bitcoin can be subdivided way lower than 1 satoshi without problems.
So 1 satoshi is currently the bottom but a change in the client can easily solve this is what I remember reading.

[Fabienne_ayy]

 The theory of BTC's growth is fine, but it would be a bit difficult to use it all in practice

[ournetinternational]

The theory of BTC's growth is fine, but it would be a bit difficult to use it all in practice

It is the reason that we should be work together encourage people to use bitcoin.

[ournetinternational]

2. A miner who finds a block receives all the transaction fees and the block reward (12.5 BTC currently), so if 1 Bitcoin was $1 million, miners could start including transactions without any fees at all because the block reward (millions of USD in that case) would be enough.
[/quote]

I think when bitcoin price reach these levels, all amount of bitcoin will have already been issued and feeds will be the unique reason for miner work.

[mich]

Wish it was this easy and straight forward, but sadly i think there is no chance that each coin will be worth $176,190.
Same time last year and my opinion may have been different but the way things are currently going, difficult to see a price of $10,000 let alone that number you mentioned.

[ournetinternational]

Wish it was this easy and straight forward, but sadly i think there is no chance that each coin will be worth $176,190.
Same time last year and my opinion may have been different but the way things are currently going, difficult to see a price of $10,000 let alone that number you mentioned.

Thank you for comment, I think that some people have  not been understand my analysis yet. I meant that this 3 scenarios are possibilities based on statistics and mathematics in the long term, because it is possible if bitcoin community work together to putting up satoshis as flow cash in the economic; through bounty campaigns  as motivation methods for spend shatoshis. But it never mean that next month bitcoin price will be reach 176.190 without we have done anything and only by speculation or trading brokers's  job.

But this is keyword "bounty". because buy bitcoin for save, it does not make sense in the long term and it not help price increase.

[manfredmann]

Wish it was this easy and straight forward, but sadly i think there is no chance that each coin will be worth $176,190.
Same time last year and my opinion may have been different but the way things are currently going, difficult to see a price of $10,000 let alone that number you mentioned.

Thank you for comment, I think that some people have  not been understand my analysis yet. I meant that this 3 scenarios are possibilities based on statistics and mathematics in the long term, because it is possible if bitcoin community work together to putting up satoshis as flow cash in the economic; through bounty campaigns  as motivation methods for spend shatoshis. But it never mean that next month bitcoin price will be reach 176.190 without we have done anything and only by speculation or trading brokers's  job.

But this is keyword "bounty". because buy bitcoin for save, it does not make sense in the long term and it not help price increase.

Yeah. that figure is really that hard to achieve and I do not know how they do their math but of course even just basing the common sense that market price for bitcoin is relatively huge. Obviously expectation is different from reality. And this is how I do not think that there assessment has the credibility for the result is not achievable.

[el kaka22]

The title says 176 thousand (plausible) whereas article says 176 million (impossible).
You should try to edit that possibly. Aside from that bitcoin doesn't have anything correlating with any of those three things.

Bitcoin is not pegged to US dollar in anyway, it is a global thing and if you can consider all us dollars into bitcoin all at once then you can also consider ALL MONEY IN THE ALL WORLD into bitcoin as well, which would make it significantly higher, that is just crazy talk and will never happen.

On the other hand, it is not connected to ecommerce neither, bitcoin is not a way where you can buy stuff online, you can use it on regular life as well, how about buying your cars gas with bitcoin? It only takes one "shell" like company to start accepting crypto.

Also, it has NO connection with paypal as well, paypal is a way for you to send dollar to somewhere else, A's dollar goes to B's bank, bitcoin is money in itself not a way to send or receive dollars. So all of them are quite as irrelevant as it gets.

[Google+]

the scheme that you give seems to you too hope that the price of bitcoin can be very expensive like that, but you should be able to know that there will be no one who wants to buy if the price of 1 bitcoin = $ 176,190.48, because it will be too expensive and the buyer will feel scared because prices could fall suddenly.

[ournetinternational]

The title says 176 thousand (plausible) whereas article says 176 million (impossible).
You should try to edit that possibly. Aside from that bitcoin doesn't have anything correlating with any of those three things.

Thank you for comment, it was a mistake and was  corrected January 23, 2019 in the main post.

[ournetinternational]

the scheme that you give seems to you too hope that the price of bitcoin can be very expensive like that, but you should be able to know that there will be no one who wants to buy if the price of 1 bitcoin = $ 176,190.48, because it will be too expensive and the buyer will feel scared because prices could fall suddenly.

Thank you for comment but I think you are no understand me, my proposal is make grow bitcoin  as currency no like an asset.

[mu_enrico]

Please correct me if I'm wrong, but I think that:

1. The minimum fee can be 1 satoshi/byte, and therefore if 1 BTC = $1,000,000, the fee for a typical Bitcoin transaction, ~250 bytes, can be $2.50

Code:

$1,000,000 / 100,000,000 sats = $0.01 per 1 satoshi

0.01 * 250 = 2.50

2. A miner who finds a block receives all the transaction fees and the block reward (12.5 BTC currently), so if 1 Bitcoin was $1 million, miners could start including transactions without any fees at all because the block reward (millions of USD in that case) would be enough.

1. Theoretically correct, but practically tx with 1 sat fee would be stuck in mempool.
2. So your argument is that the higher the BTC price, miners will include tx with lower fees? Well, what happened with the last bull-run (Dec 2017 - Jan 2018)? Did you see fees increase or decrease?

PS: Anyone care to explain/answer my question will get merit(s). But only for good quality answer of course.


@OP
You don't have to say thanks for every response. And don't do double posting, like this and this. Merge it, if not, someone will report you

[eaLiTy]

Thankyou for reading, I know that I am dreamer, but in order to try answer your main question, I wrot it above, We must design some motivation method in such a way when people receive some satoshis they will have to spend it (without sale it) and they can not will keep saved anymore.
It is only my humble opinion.

It is a dream stuff at this stage of the market, never expect anyone to give out free coins like that and never expect anyone to spend the coins they get, once you spent your coins you cannot do anything about it, hence this is neither a hypothical solution, if anyone has control over the coins you hold what is the security level of bitcoin.  This was a good laugh though . Cheers

[Naida_BR]

How to grow bitcoin price to $176,190.48?

Solution is simple, Putting up bitcoin as flow cash in the economic by rich bitcoin owners
I think a big drawback that stagnates the growth of bitcoin, is major amount of bitcoin are  owned by handful of a  rich person that are waiting some miracle on laws regularization and other handful of people, are waiting for it increase in value without, them having to do anything.

Very very accurate point. I think that this is also the reason why the trading volume of bitcoin is very low (close to stagnant) these days. I think that the majority of bitcoins are accumulated to little actors in the ecosystem, maybe miners, early adopters etc. They just hodling Bitcoins and just waiting for them to increase in value only with Marketing or news.
It is very difficult so this to happen. We need a real usage for cryptocurrencies that will increase the demand for them and eventually their price.

[ournetinternational]

Please correct me if I'm wrong, but I think that:

1. The minimum fee can be 1 satoshi/byte, and therefore if 1 BTC = $1,000,000, the fee for a typical Bitcoin transaction, ~250 bytes, can be $2.50

Code:

$1,000,000 / 100,000,000 sats = $0.01 per 1 satoshi

0.01 * 250 = 2.50

2. A miner who finds a block receives all the transaction fees and the block reward (12.5 BTC currently), so if 1 Bitcoin was $1 million, miners could start including transactions without any fees at all because the block reward (millions of USD in that case) would be enough.

1. Theoretically correct, but practically tx with 1 sat fee would be stuck in mempool.
2. So your argument is that the higher the BTC price, miners will include tx with lower fees? Well, what happened with the last bull-run (Dec 2017 - Jan 2018)? Did you see fees increase or decrease?

PS: Anyone care to explain/answer my question will get merit(s). But only for good quality answer of course.


@OP
You don't have to say thanks for every response. And don't do double posting, like this and this. Merge it, if not, someone will report you

Sorry I can not find the duplicates, and I don't know how to make a merge, could you help me give me more details please.

[Betwrong]

~
2. So your argument is that the higher the BTC price, miners will include tx with lower fees? Well, what happened with the last bull-run (Dec 2017 - Jan 2018)? Did you see fees increase or decrease?

PS: Anyone care to explain/answer my question will get merit(s). But only for good quality answer of course.
~

The fees increased, but I think that was not because the price of Bitcoin increased, but rather because people were trading like crazy during those days (400,000 transactions per day, $20 bln daily trading volume), and traders started including higher and higher fees in order to not wait hours or even days until their transaction was confirmed. If you want to transfer over $10,000 in BTC, $30 fee doesn't seem that big. Looking at the daily trading volume of the time, there could be hundreds of thousands of such transactions during one day. Since miners try to maximize the amount of fee income from the txs they include in their blocks, txs with lower fees were stuck in mempool, because there were always enough txs with higher fees.

[susuberuang]

to be able to grow the price of bitcoin there might have to be good news that could trigger an increase in the price of bitcoin and so many people want to buy bitcoin because without the buyer the price of bitcoin is difficult to rise and of course the price is too expensive, maybe they are usually scared.

[chenille]

to be able to grow the price of bitcoin there might have to be good news that could trigger an increase in the price of bitcoin and so many people want to buy bitcoin because without the buyer the price of bitcoin is difficult to rise and of course the price is too expensive, maybe they are usually scared.

I don't think good news will help, at least some recent good news didn't help. I can compare the situation to 2014 / 2015 when everyone said Bitcoin is dead and so on. Recovery needs time, it's still not sure if we have seen the bottom or BTC will drop further (good opportunity to buy more).
A new financial crisis can be another factor for people to realize what BTC is about. 

[slocker]

to be able to grow the price of bitcoin there might have to be good news that could trigger an increase in the price of bitcoin and so many people want to buy bitcoin because without the buyer the price of bitcoin is difficult to rise and of course the price is too expensive, maybe they are usually scared.

I don't think good news will help, at least some recent good news didn't help. I can compare the situation to 2014 / 2015 when everyone said Bitcoin is dead and so on. Recovery needs time, it's still not sure if we have seen the bottom or BTC will drop further (good opportunity to buy more).
A new financial crisis can be another factor for people to realize what BTC is about. 

Correct for everything it takes time to recover or to come in some stable upraise path. It same for not just bitcoin but all other coin that are involved in this. SO for this year dont think we will see some big improvement in price maybe some small but Im not expecting to see some bigger movement, with good or bad news.

[MoonCrypt]

well, for now, everyone in this space a part to play to make bitcoin market become a real currency
educate people about the technology, once it becomes more impactful in the lives of people then we can talk about price

[Betwrong]

to be able to grow the price of bitcoin there might have to be good news that could trigger an increase in the price of bitcoin and so many people want to buy bitcoin because without the buyer the price of bitcoin is difficult to rise and of course the price is too expensive, maybe they are usually scared.

There is no such thing as an unaffordable price for Bitcoin. If you can't buy the whole coin, you can always buy 0.001, for instance. This is a common misconception among some aspiring crypto adopters, they buy some sh*tcoins costing $0.05 per coin/token and below thinking that the price is cheap, while in fact it's a big price for something which is going to zero.

[Halmater]

I don't expect your scenarios can be realized . If bitcoin reached to another ATH, people would wait for while before investing because of 2018 drop that we have experienced after 2017 ATH.

[nur rochid]

I don't expect your scenarios can be realized . If bitcoin reached to another ATH, people would wait for while before investing because of 2018 drop that we have experienced after 2017 ATH.

indeed it is still quite impossible for the current situation. Such a price might occur if 50% of the world's population uses bitcoin, and that means many countries have legalized bitcoin

[mich]

I don't expect your scenarios can be realized . If bitcoin reached to another ATH, people would wait for while before investing because of 2018 drop that we have experienced after 2017 ATH.

indeed it is still quite impossible for the current situation. Such a price might occur if 50% of the world's population uses bitcoin, and that means many countries have legalized bitcoin

Dude if 50% of the world's population regularly used BTC, then anyone holding onto 1 BTC would be super rich!

[Snaic]

It seems to me that we do not need to try to influence the cryptocurrency price by artificial means. At the end of 2017, the price of Bitcoin was definitely pumped up and we still have tough consequences. Everything should go slowly, on the basis of the usual supply and demand, without sharp price jerks. Then there will be no such protracted falls. In the next decade, such a massive use of Bitcoin is hardly possible.

[bangkit tri]

It seems to me that we do not need to try to influence the cryptocurrency price by artificial means. At the end of 2017, the price of Bitcoin was definitely pumped up and we still have tough consequences. Everything should go slowly, on the basis of the usual supply and demand, without sharp price jerks. Then there will be no such protracted falls. In the next decade, such a massive use of Bitcoin is hardly possible.

as if reaching the climax so that prices go to anti-climax, until now this still continues. for the short term, maybe we can see the price movements have been happy, with all expectations

[strunberg]

I don't expect your scenarios can be realized . If bitcoin reached to another ATH, people would wait for while before investing because of 2018 drop that we have experienced after 2017 ATH.

it can be realized, but not now on.we still have to wait more long time to see bitcoin create new all time high.and also it will not be easy for us,there will many drama in market between fud and positive news.

[ournetinternational]

I don't expect your scenarios can be realized . If bitcoin reached to another ATH, people would wait for while before investing because of 2018 drop that we have experienced after 2017 ATH.

Maybe if you think in bitcoin like an asset, but I am thinking on it like a currency.