what will happen if BTC hit 1.000.000$

[Firecold4]

if indeed bitcoin touches the price of $ 1 million most likely what will happen is that all online transactions will use bitcoin and the world economy will also use bitcoin as a means of payment or investment tool

[pinoycash]

If Bitcoin reaches $1,000,000 in the next 2 or 3 years, Fiat will crash, communications will crash, the economy will crash, Social Security and Medicare will crash, etc.

There will be worldwide chaos, but especially in the USA and Western Europe. People will die. Ultimately, the power grid and communications will crash. People will revert to at least Dark Ages living, but maybe all the way back to prehistoric style living.

All of this will happen because communications will be destroyed by the weight of the blockchain trying to communicate with all the people using Bitcoin. Bitcoin greed will bring the whole earth to its knees.

I dont think this will happen, Just like gold. Bitcoin and Fiat Money can always co-exist and thrive together.

If bitcoin bring us back to the darkages then having a 1Million USD/BTC is useless since we are probably going back to the old ways of paying for services just like barter service. A chicken for an egg trading.

[Micerker]

Bitcoin will not be able to achieve the price of $ 1M per Bitcoin. If it can make the value you set, I believe we all no longer use FIAT to pay and trade. With a large target, it needs major changes that change the whole history of identification before it achieved.

[coin-investor]

hi guys
if BTC hit 1 million $ in the future what will happen
do u think we will see more hack news
More violence and criminalization of bitcoin holders by governments
Any events we will see ?

Even if the price hasn't reached to 5 digit level there are already hacking news and scamming going on, but if ever Bitcoin reaches to that level, the exchange security level will hire top-notch security experts and security software because every Bitcoin will be treated with utmost importance, of course, we cannot prevent these hacking and criminalization it will still exist.

[Evgenklm]

I do not even know, there are doubts about this amount of $ 1 million. Imagine what should be the capitalization at this price, though I believe in bitcoin, and its technology and blockchain in general, but I doubt that such a price will be in the near future.

[Siren]

If it is true that the price of bitcoin reaches such a value, I think the government will be more decisive in giving the rules to each country, and the income tax will increase, for example in my country.

Maybe not just rules but there might be Holding from the government or the worst thing is they will banned the bitcoin worldwide to benefits from the situation.

But I am pretty sure before bitcoin hits the 1000,000,$ value the world already accepted bitcoin and the legit cryptocurrency,and all of us are benefiting from what we have hard worked

[micalith]

hi guys
if BTC hit 1 million $ in the future what will happen
do u think we will see more hack news
More violence and criminalization of bitcoin holders by governments
Any events we will see ?

That's impossible to happen maybe 100k USD each might possible but even the 1m USD each bitcoin won't help to stop hackers for hacking and stealing bitcoin it is their nature of earning money.

We can't change it unless if the price of bitcoin will become no value in the future I'm sure there is no hacking news will be published in the future related to bitcoin hacking.

Since the bitcoin price is increasing more hackers and criminals are attracted to get easy bitcoin to their victim.

I totally agree. Btc price will grow but i don’t believe it will be 1 million $. Apparently, as long as bitcoin price keep increasing there is no way to keep it stay away from hackers. They will try to find more ways to steal it.

[Vishnu.Reang]

Eventually if the price of Bitcoin hit $1.m, criminality will be on a high side and there will be wars of hack around the world of cryptocurrency. There will be series of problems that will be associated with the price, becasue everybody will bow to it price. People will piratically worship Bitcoin, and if eventually Satoshi .N. is fond, humans will make him their God.

I don't think that the hacking frequency will go up if the price increases. On the other hand, I would say that such incidents will go down in number. If the prices increase, then more number of users will be able to purchase accessories such as hardware wallets, which can prevent the vast majority of the hacking attempts. So according to me, the hacks may go down in number.

[pinoycash]

Eventually if the price of Bitcoin hit $1.m, criminality will be on a high side and there will be wars of hack around the world of cryptocurrency. There will be series of problems that will be associated with the price, becasue everybody will bow to it price. People will piratically worship Bitcoin, and if eventually Satoshi .N. is fond, humans will make him their God.

I don't think that the hacking frequency will go up if the price increases. On the other hand, I would say that such incidents will go down in number. If the prices increase, then more number of users will be able to purchase accessories such as hardware wallets, which can prevent the vast majority of the hacking attempts. So according to me, the hacks may go down in number.

Probably he is saying, hacking incident will be more frequent and prevalent. Since the more valuable or expensive bitcoin become, many hackers will be in the lookout for more ways to steal people's coin.

having a hardware wallet is not the safest way to store bitcoin, Paper wallet are still the best cold storage for our cryptocurrency.

[Carollzinha]

hi guys
if BTC hit 1 million $ in the future what will happen
do u think we will see more hack news
More violence and criminalization of bitcoin holders by governments
Any events we will see ?

Well your description is not much different from what is happening already lol
We already have lots of hackers with many exchanges being hacked really often, regular people being targeted by scammers and now, at least in Brazil, abusive charges being levied in every transaction we do at brazilian exchanges
So, please tell me, how is it different from what you described?

[XCANA]

Eventually if the price of Bitcoin hit $1.m, criminality will be on a high side and there will be wars of hack around the world of cryptocurrency. There will be series of problems that will be associated with the price, becasue everybody will bow to it price. People will piratically worship Bitcoin, and if eventually Satoshi .N. is fond, humans will make him their God.

I don't think that the hacking frequency will go up if the price increases. ~

  whenever demands increase, crime will definitely rise to the peak, imagine the price of Bitcoin to soar from $8,000 to $1.m, how do you think there will be no demands, and those who can't get it legally will either get it illegally, so, hacking will be on the high side and scam will skyrocket. 

[Noojna]

hi guys
if BTC hit 1 million $ in the future what will happen
do u think we will see more hack news
More violence and criminalization of bitcoin holders by governments
Any events we will see ?

I think that if Bitcoin reaches such a price, Bitcoin addresses will become more fragmented as even an address with 0.1 BTC will be worth a lot of money.

More addresses, more people owning fewer Bitcoin.

I don't think this will mean more hacking however, as we learn to protect ourselves and we learn not to leave weaknesses in our setups, and we stop leaving coin at exchanges. Who knows, maybe even some exchanges may become safe.

Crime does not get created by value of a currency; crime is a social phenomenon. Crime will exist whether BTC is worth 1$ or 1 million $ the same way.

[Lumi3004]

No one is sure to guess about humans for the future, if bitcoin BTC reaches $ 1 million,
It could be that all humans will have cars, luxury homes. There are no more poor people in this world.

[Nhor1011]

hi guys
if BTC hit 1 million $ in the future what will happen
do u think we will see more hack news
More violence and criminalization of bitcoin holders by governments
Any events we will see ?

That is imposible to happen even in prediction ,bitcoin reach $1M even in the future. But if ever it will happen many people will become rich and others will become violence and has no self control with their wealth.

[Pom_bensin]

If it is true that the price of bitcoin reaches such a value, I think the government will be more decisive in giving the rules to each country, and the income tax will increase, for example in my country.

the government will certainly take advantage of the situation to tax the owner of bitcoin and that is sure to happen, because the nominal high bitcoin price makes people increase in terms of the economy and the government will use it to tax.

[Vishnu.Reang]

Eventually if the price of Bitcoin hit $1.m, criminality will be on a high side and there will be wars of hack around the world of cryptocurrency. There will be series of problems that will be associated with the price, becasue everybody will bow to it price. People will piratically worship Bitcoin, and if eventually Satoshi .N. is fond, humans will make him their God.

I don't think that the hacking frequency will go up if the price increases. On the other hand, I would say that such incidents will go down in number. If the prices increase, then more number of users will be able to purchase accessories such as hardware wallets, which can prevent the vast majority of the hacking attempts. So according to me, the hacks may go down in number.

Probably he is saying, hacking incident will be more frequent and prevalent. Since the more valuable or expensive bitcoin become, many hackers will be in the lookout for more ways to steal people's coin.

having a hardware wallet is not the safest way to store bitcoin, Paper wallet are still the best cold storage for our cryptocurrency.

I agree. The incidence of hacking may increase, but the success rate for the criminals will be in decline. But still you need to understand the risks that are associated with hardware and paper wallets. In case the private key or backup files are lost, then there is no way to recover the coins. And paper wallets are very vulnerable to robbery. Storing the private keys can be a complicated process.

[smartbitcoininvestor]

If Bitcoin hits $1,000,000 then we will have Bitcoin on Mars as well.

[Carollzinha]

If it is true that the price of bitcoin reaches such a value, I think the government will be more decisive in giving the rules to each country, and the income tax will increase, for example in my country.

the government will certainly take advantage of the situation to tax the owner of bitcoin and that is sure to happen, because the nominal high bitcoin price makes people increase in terms of the economy and the government will use it to tax.

Since May/07 they are already asking for that tax here in Brazil and it can be over 10% of your transaction (withdrawals, payments with bitcoins or anything that they have access to). Brazilian exchanges are now obliged to request KYC from everyone that buy or sell cryptos and inform it to our government so any time you will ever do any crypto transaction they will know your name, your ID card number and how much your transaction was.. right after they will request you some proofs in how you got these coins from (to make sure its not money laundry) and then request these abusive taxes

[Vaskiy]

If it is true that the price of bitcoin reaches such a value, I think the government will be more decisive in giving the rules to each country, and the income tax will increase, for example in my country.

the government will certainly take advantage of the situation to tax the owner of bitcoin and that is sure to happen, because the nominal high bitcoin price makes people increase in terms of the economy and the government will use it to tax.

If government feel that it has been giving users a massive income and the government isn't making any fortune out of the same, surely it will take it a big issue and make more strict regulations to keep everything under control. From my view growth can happen, and if it grows slow and steadily it won't get the attention. If the same grows suddenly entire focus gets turned over it which is not good for a growing network.

[okala]

When bitcoin get to one million dollars in the future then we can boldly say that it has attained it mainstream position and the government will then see the need to adopt bitcoin and a secondary currency in their territory. With lots of users having confidence in the bitcoin network.