BITCOIN Will hit 1 Million $$$ ? What do you think ?

[crypmon259]

The total Bitcoin supply is limited to 21 million. Out of that, the market has lost, likely lost, or unmined 36% of the coins. That amounts to 7.56 million bitcoin units that remain inaccessible owing to human errors. It leaves the bitcoin market with the remaining supply of 13.44 million tokens, the last of which would come into existence by the year 2140.

Consider each BTC will cost $1 million, then the total market capitalization of bitcoin would become $13.44 trillion.

It would make the bitcoin network richer than China, the world’s largest companies including Amazon, Apple, and Facebook, and even the world’s top 50 billionaires combined. Moreover, BTC would become equal to 11.7% of the world’s GDP, 19.5% of global stock markets, and 32.5% of the total money supply – all on a bitcoin-against-the-other basis.

Bitcoin is the talk of financial sector for some time now . Top wealthy investors and Vcs wants to buy it all , but there is only a limit . If they want to buy all also its not possible as it will surge the market cap too high way too quick and the price will rise so fast that even those top wealthy people dont want to buy at such high prices.

So my question is will it reach 1 million as is predicted or its far fetched?

*Calculation Source - newbtc.com

[TimeBits]

What does it matter how much fiat people think it is worth?
What is the difference between 1 x 0 or 100,000,000 x 0 or 100,000,000,000 x 0?

At the end of the day 1 btc = 1 btc

[minersday]

Looking at the nature of the entire crypto ecosystem, it is very possible for the price of Bitcoin to hit 1 million and it is also impossible. Bitcoin market is piratically unpredictable. Today for instead, I woke up to see the price of Bitcoin at $10600 and within some hours the price dropped to $10271.66 at the moment of making this post. The market is not really predictable.

[lineups]

The total Bitcoin supply is limited to 21 million. Out of that, the market has lost, likely lost, or unmined 36% of the coins. That amounts to 7.56 million bitcoin units that remain inaccessible owing to human errors. It leaves the bitcoin market with the remaining supply of 13.44 million tokens, the last of which would come into existence by the year 2140.

Consider each BTC will cost $1 million, then the total market capitalization of bitcoin would become $13.44 trillion.

It would make the bitcoin network richer than China, the world’s largest companies including Amazon, Apple, and Facebook, and even the world’s top 50 billionaires combined. Moreover, BTC would become equal to 11.7% of the world’s GDP, 19.5% of global stock markets, and 32.5% of the total money supply – all on a bitcoin-against-the-other basis.

Bitcoin is the talk of financial sector for some time now . Top wealthy investors and Vcs wants to buy it all , but there is only a limit . If they want to buy all also its not possible as it will surge the market cap too high way too quick and the price will rise so fast that even those top wealthy people dont want to buy at such high prices.

So my question is will it reach 1 million as is predicted or its far fetched?

*Calculation Source - newbtc.com

*we need to wait

[Artemis3]

Or, given that 1 BTC is actually composed of 100 000 000 satoshis, meaning nearly 2 100 000 000 000 000 satoshis in total, but unrelated to your outrageous price i already answered to in the other thread, it basically means that, no, it isn't getting to that price.

Either way there is a cap. Yes, 21 million sounds scarcer than 2 quadrillion*, but the net effect is the same. It is a deflationary currency surrounded by a world of inflationary money.

*Quadrillion in the short scale used by Americans and many English speaking countries. Its actually just 21 hundred billion in the long scale used in many more countries...

[avikz]

What does it matter how much fiat people think it is worth?
What is the difference between 1 x 0 or 100,000,000 x 0 or 100,000,000,000 x 0?

At the end of the day 1 btc = 1 btc

Correct! But even if the unit remains same, the purchasing power varies and that's what is being speculated by the OP! Till the time bitcoin is adopted worldwide at government level, there's no way people will stop comparing bitcoin units with fiat!

So my question is will it reach 1 million as is predicted or its far fetched?

*Calculation Source - newbtc.com

Good subject for day dreaming! It's indeed great to dream myself as a billionaire while sleeping and roaming around the city in a Lamborghini with hot chicks around!

[SOPTC]

Not sure i can say its impossible,and not sure i can say its possible. because the market is highly unpredictable. Won't happen at once of course.

[Slow death]

no offense, but I think you should call John McAfee for him to come in this thread give your opinion on this topic and talking about of the time traveler



about your thread, I think we will not see this price of 1 million dollars per bitcoin, is a very high price... at most we can see the price of $250,000 next 30 years from now and if it has a global adoption.

[Mulann2]

Actually John McAfee made that prediction sometime back you should have probably make reference to that first, and speaking of btc hitting 1million usd, i don't see anything wrong with it from an investor perspective   afterall it is what 99.9% of crypto community wants only   a small fraction talks about the technology (i.e if there is)  this forum is a typical example of the 99.9% who are more concerned about price

[Xalata]

I think 1 million dollars is an overestimation. We are expecting Bitcoin to hit the $20k mark but it is still lingering around $10k. 1million $ is too much. Let us hope for $20k by the end of the year.

[sunsilk]

no offense, but I think you should call John McAfee for him to come in this thread give your opinion on this topic and talking about of the time traveler

With the latest news that I've read about him, he's at the middle of the sea and is being chased by the CIA.

Eccentric Crypto Rebel John McAfee Says the CIA is Chasing Him

John McAfee goes dark again, claims CIA in pursuit

Not sure i can say its impossible,and not sure i can say its possible. because the market is highly unpredictable. Won't happen at once of course.

Honestly, I would want to see bitcoin hit $1 million but if that comes for sure I don't have bitcoin anymore. But realistically speaking, estimating or thinking that it's possible to happen - it is possible. However, we can't be sure on how long we have to wait until that time comes.

Just to be safe, I'm starting to lower my expectation and it's just about $100k - $250k and if it hits $1M by surprise, we'll it's a great achievement not just for bitcoin but for the whole community.

[Oceat]

Everything will have their time and Bitcoin hitting 1 million is not impossible but it will take a lot of time before it hits to that price. But i don't know if we are ever alive during that time, so what's the difference of thinking too much if Bitcoin ever hit 1 million if you don't get it when you were still alive? I can't imagine if there is still Bitcoin during that time since we all know technology keeps growing and growing.

[Dreamchaser21]

I wish to see that with bitcoin, and if that things happen for sure 1Lambo will cost more bitcoin because of the inflation rate happening with fiat money. Everything is possible with bitcoin, even if this is a much speculation there’s still a chance. We just need Craig Wright to say more about Satoshi in the future, and a lot of hype. 

[hulla]

What does it matter how much fiat people think it is worth?
What is the difference between 1 x 0 or 100,000,000 x 0 or 100,000,000,000 x 0?

At the end of the day 1 btc = 1 btc

Although, 1btc will still be 1btc but if Bitcoin clinch the price range predicted it does matter cause it shows that Bitcoin does proof the reason behind it creation and the governments which are against and thought of it as scam will later take back their false/FUD statement.

[figmentofmyass]

call me crazy, but double the market cap of gold doesn't seem too outlandish to me. i dunno about timing, but i could see it happening within the next decade maybe.

people underestimate just how limited the supply is---21 million coins (20% of which might be lost), for 8 billion people, investment banks/asset managers, central banks? most of the supply will probably be sucked into a black hole, hoarded away. i could see $10 million happening in my lifetime too.

[pooya87]

The total Bitcoin supply is limited to 21 million. Out of that, the market has lost, likely lost, or unmined 36% of the coins. That amounts to 7.56 million bitcoin units that remain inaccessible owing to human errors.

you are getting 2 things wrong.
we are not yet at 21 million and we won't do that for a hundred year, we have only mined 17.8 million so your percentage should result in 6.4 million lost.
and that percentage (36%) is your pure guess. there is literary no way to measure how much bitcoin is really lost. all we can say is that certain "burnt" coins are actually lost and their total is not bigger than a thousand. the rest is pure guesswork.

It would make the bitcoin network richer than China, the world’s largest companies including Amazon, Apple, and Facebook, and even the world’s top 50 billionaires combined.

bitcoin is not a country, nor a company nor a person that you are comparing it with them!

32.5% of the total money supply

stats from 3 years ago says it is $80 trillion which makes this percentage 26% if that stat is still correct.
this is the only value that makes sense because bitcoin is a global currency and it needs to be compared on that scale and with its counterparts not other things such as stock market!

Bitcoin is the talk of financial sector for some time now . Top wealthy investors and Vcs wants to buy it all , but there is only a limit . If they want to buy all also its not possible as it will surge the market cap too high way too quick and the price will rise so fast that even those top wealthy people dont want to buy at such high prices.

people don't buy 1 whole bitcoin and they don't have to. bitcoin is divisible and they don't buy by looking at the total price, they buy either to reach financial freedom and get free of censorship and corruption of the banks or they are buying it to make profit from the potential growth that bitcoin has.
neither of these are affected by the price.

So my question is will it reach 1 million as is predicted or its far fetched?

it is not far fetched, it is far away. because we need to reach mass adoption for such price levels to become a possibility. i don't see any reasons mentioned here that suggests otherwise.

[exstasie]

about your thread, I think we will not see this price of 1 million dollars per bitcoin, is a very high price... at most we can see the price of $250,000 next 30 years from now and if it has a global adoption.

It's only 100x the current price. When we were trading near $200 in 2015, reaching $20K sounded equally as ridiculous. But we reached it by 2017, just a couple years later. Crazy, right?

Bitcoin will continue to defy all expectations. Typical bulls are aiming at $50K. I'm aiming closer to $13 million.

[YuginKadoya]

I don't see the price gonna hit that far, and less likely with the time left we had regarding the bull run and the recent all-time high of $20,000 USD its unlikely we can just hit $40,000 to $50,000 USD this bull season, And the price of bitcoin right now is taking resistance and dropping back to $9000 USD level is an indicator that was not gonna make a $1 Million Price, Well it is not always increased in price but we are still experiencing some dip and correction so the possibility of a Million price isn't possible. 

[yvesp110]

about your thread, I think we will not see this price of 1 million dollars per bitcoin, is a very high price... at most we can see the price of $250,000 next 30 years from now and if it has a global adoption.

It's only 100x the current price. When we were trading near $200 in 2015, reaching $20K sounded equally as ridiculous. But we reached it by 2017, just a couple years later. Crazy, right?

Bitcoin will continue to defy all expectations. Typical bulls are aiming at $50K. I'm aiming closer to $13 million.

Really this coin has gotten features to surprise the market. We have people in the market who have had great number of Bitcoins and they have been predicting about the market as well for long. John McAfee is one guy who has been in the news a lot because his predictions about the rise of the coins have always been positive. This time, he expects Bitcoin to cross one million dollar.

[BitHodler]

And the price of bitcoin right now is taking resistance and dropping back to $9000 USD level is an indicator that was not gonna make a $1 Million Price, Well it is not always increased in price but we are still experiencing some dip and correction so the possibility of a Million price isn't possible. 

Just because the price is taking a few steps back after having moved forward by dozens of steps, doesn't mean we should discard the possibility of Bitcoin reaching $1 million at some point in the future.

I'm quite sure that when Bitcoin was hovering around the $10 mark, people similarly said no way that Bitcoin will ever reach $10k with how unrealistic it looked at that point.

The problem with people is that when the price is going up they feel comfortable throwing $100k predictions left and right, but the moment the price is correcting they can't see how Bitcoin will ever reach such levels....