Will 1 Bitcoin will Reach 1 million usd one day?

[apsvinet]

lol one million per bitcoin? That is not possible in our lifetime.
Altcoins killing bitcoin's market share.
My only worry is price drop. When i invested in some bitcoin that time price is around $850 range. But now price is going downwards.

It might go up again. OP is trying to have a laugh with this post, it's not realistic to see it at 1 million dollars, ever. However chances are they'll still go waaay past 850 usd. Patience.

[BitCoinDream]

Will 1 Bitcoin will Reach 1 million usd one day? What is your opinion?

Then people will buy Platinum with Bitcoin

[Salmon1989]

Will 1 Bitcoin will Reach 1 million usd one day? What is your opinion?

Then people will buy Platinum with Bitcoin

Or they will sell their gems, gold and platinum to buy bitcoin 

[st4nl3y]

Will 1 Bitcoin will Reach 1 million usd one day? What is your opinion?

No. I will be surprised if it ever gets above 1200 again

[duhosnyul]

I think not within 10 years. China, US or EU can make the price of the bitcoin in downward spiral if they like to. Bitcoin having a price of 500,000 - 1,000,000 will make bitcoin threat to their banking monopoly and to the dollar is reserved currency.

[rohnearner]

No. I will be surprised if it ever gets above 1200 again

Are you talking about next few months or you are saying that we will never ever going to hit a new ATH with bitcoin .. !

[Magicoin]

Kind of magic thing will be if this comes true one day. 

[nthunder]

Well, let's try to make a guess. According to the Worldwatch Institute and Earth Policy Institute the gross world product (GWP = combined GNP/GDP) was about $73 trillion in 2013. To put this in perspective back in 1950 the GWP was about $7 trillion . So let's say, for the sake of argument that by 2050 the gross world product will at least double (which is more than a safe argument) and become at least $146 trillion. The projected BTC supply for 2050 is roughly 20.9 million. Also for the sake of argument let's presume that by 2050, 15% of all transaction are done in bitcoins. 15% of $146 trillion is roughly $21.9 trillion and divided by 20.9 million BTC you get about 1,047,846 USD per 1 BTC.

But forget about 2050, let's talk about tomorrow. IF by tomorrow 3% of all transactions (and Bitcoin has the potential to achieve much more) are done with bitcoins this leaved us with 3/100*73 trillion ~ $2,1 trillion. Divide that by 10.5 million BTC and you get 1 BTC = $219,000

Unless my math is wrong $1,200 could be just the tip of the iceberg

Happy mining!

[duhosnyul]

Well, let's try to make a guess. According to the Worldwatch Institute and Earth Policy Institute the gross world product (GWP = combined GNP/GDP) was about $73 trillion in 2013. To put this in perspective back in 1950 the GWP was about $7 trillion . So let's say, for the sake of argument that by 2050 the gross world product will at least double (which is more than a safe argument) and become at least $146 trillion. The projected BTC supply for 2050 is roughly 20.9 million. Also for the sake of argument let's presume that by 2050, 15% of all transaction are done in bitcoins. 15% of $146 trillion is roughly $21.9 trillion and divided by 20.9 million BTC you get about 1,047,846 USD per 1 BTC.

But forget about 2050, let's talk about tomorrow. IF by tomorrow 3% of all transactions (and Bitcoin has the potential to achieve much more) are done with bitcoins this leaved us with 3/100*73 trillion ~ $2,1 trillion. Divide that by 10.5 million BTC and you get 1 BTC = $219,000

Unless my math is wrong $1,200 could be just the tip of the iceberg

Happy mining!

Nice calculation. I couldn't say more. 

[rohnearner]

Well, let's try to make a guess. According to the Worldwatch Institute and Earth Policy Institute the gross world product (GWP = combined GNP/GDP) was about $73 trillion in 2013. To put this in perspective back in 1950 the GWP was about $7 trillion . So let's say, for the sake of argument that by 2050 the gross world product will at least double (which is more than a safe argument) and become at least $146 trillion. The projected BTC supply for 2050 is roughly 20.9 million. Also for the sake of argument let's presume that by 2050, 15% of all transaction are done in bitcoins. 15% of $146 trillion is roughly $21.9 trillion and divided by 20.9 million BTC you get about 1,047,846 USD per 1 BTC.

But forget about 2050, let's talk about tomorrow. IF by tomorrow 3% of all transactions (and Bitcoin has the potential to achieve much more) are done with bitcoins this leaved us with 3/100*73 trillion ~ $2,1 trillion. Divide that by 10.5 million BTC and you get 1 BTC = $219,000

Unless my math is wrong $1,200 could be just the tip of the iceberg

Happy mining!

Wow these are fascinating stats for a bitcoin enthusiast ..! but according to current marketing condition we never know can even sink down to 100$ :p

[DeboraMeeks]

aw yiiiiiiiiiiiiiissssssssss

[mprep]

aw yiiiiiiiiiiiiiissssssssss

Well, it's not happening now so don't be so happy.

[Swordsoffreedom]

aw yiiiiiiiiiiiiiissssssssss

Well, it's not happening now so don't be so happy.

One can dream ha-ha one can dream and hopefully still have enough bitcoins to be awww yisss

[roslinpl]

Always when price drops people starts to panic in here

IMO - 1 week and price is ~600-700

[fatguyyyyy]

Its at 400 now.

[AlextheWolf]

^shit i remember when it was at $4

[PereguineBerty]

1 million per BTC is never going to happen but I believe 10k is possible within a few years. In my opinion the biggest problems Bitcoin faces are:

a) Governments across the globe will try to regulate it as a financial medium to the point that's its practically impossible to trade with. This is happening in China, and many countries may follow suit. On the upside, this could drive the price up in the long term though as so many people want to be removed from the current banking system and many already use Bitcoin as a means of doing so.

b) It is not widely accepted as a means of payment. This could be due to extremely volatile prices or the fact that there are no Major Bitcoin payment processing systems available yet.

c) There are not enough Bitcoins to go around everybody. Trading in BTC, mBTC, uBTC is too confusing to a lot of people.

d) Alternative crypto currencies. They all use Bitcoin code but the chances are that one day, one (or some) of them will improve on the original code to create something that negates all of the above reservations.

Bitcoin still has a LOT of mileage left but maybe it isn't the solution that many people want it to be. It's certainly the pioneer and mainstay at present but unless it can become widely accepted as a method of payment, it will be become a thing of the past - sooner rather than later.

[nthunder]

b) It is not widely accepted as a means of payment. This could be due to extremely volatile prices or the fact that there are no Major Bitcoin payment processing systems available yet.

Good point, BTC has high volatility compared to regulated currencies BUT as a money transfer option it's just better hands down. Nothing stops merchants from accepting bitcoins and exchanging them the same day for USD or on the spot. This will definitely put a new spin on things. The thing is Bitcoin is so new and people don't have anything else to compare it too. What is Bitcoin? Is it a currency, commodity, transfer option, stock... nobody really know and they just say cryptocurrency when asked.

I believe Bitcoin has many uses and one of them is money transfer. Bottom line, Paypal transaction fee 3.4% + 35 cents, merchant account credit card processing 2.9%-5.5% + 30 cents, Bitcoin priceless (variable depending on amount and exchange but generally much cheaper)

[rohnearner]

Its at 400 now.

hmm I think around 500$ not 400$ yeah it may sink to 400$ but not yet there..!

^shit i remember when it was at $4

haha and how many bitcoins you have now..?

[apsvinet]

Its at 400 now.

It's not at 400 and haven't been, which exchange site are you using? Atleast bitstamp is around 500~.