How to grow bitcoin price to $176,190.48?

[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?

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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.