AlextheWolf
Newbie
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Activity: 19
Merit: 0
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March 30, 2014, 09:16:23 PM |
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Anyone that believes this is an idiot. There is 12,577,500 bitcoin in circulation right now. So with roughly that much bitcoin multiplied to $1,000,000 USD would would make the total value of all the bitcoin $12,577,500,000,000. Thats twelve trillion ,five hundred seventy seven billion ,five hundred million. There was approximately $1.27 trillion in circulation as of March 26, 2014, of which $1.22 trillion was in Federal Reserve notes. "source - http://www.federalreserve.gov/faqs/currency_12773.htm" |
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xypos
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March 30, 2014, 09:23:32 PM |
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Anyone that believes this is an idiot. There is 12,577,500 bitcoin in circulation right now. So with roughly that much bitcoin multiplied to $1,000,000 USD would would make the total value of all the bitcoin $12,577,500,000,000. Thats twelve trillion ,five hundred seventy seven billion ,five hundred million. There was approximately $1.27 trillion in circulation as of March 26, 2014, of which $1.22 trillion was in Federal Reserve notes. "source - http://www.federalreserve.gov/faqs/currency_12773.htm" But in the future there will be more $ in circulation.  Anyway, I don't think that it will hit so much ^^ |
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apsvinet
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March 30, 2014, 11:08:06 PM |
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Anyone that believes this is an idiot. There is 12,577,500 bitcoin in circulation right now. So with roughly that much bitcoin multiplied to $1,000,000 USD would would make the total value of all the bitcoin $12,577,500,000,000. Thats twelve trillion ,five hundred seventy seven billion ,five hundred million. There was approximately $1.27 trillion in circulation as of March 26, 2014, of which $1.22 trillion was in Federal Reserve notes. "source - http://www.federalreserve.gov/faqs/currency_12773.htm" Anyone that doesn't spot a troll thread that's made only to create discussion is an idiot. |
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semaforo
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March 30, 2014, 11:14:21 PM |
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Anyone that calls a specific person or a general group of people who do a certain thing an idiot is an.... wait
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apsvinet
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March 30, 2014, 11:14:55 PM |
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Anyone that calls a specific person or a general group of people who do a certain thing is an.... wait no
Anyone that interrupts his own sentence is an …. nvm, you're right. |
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bitpop
Legendary
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Activity: 2912
Merit: 1060
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March 31, 2014, 08:57:06 AM |
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If only 21 million people need to store $1mm that's all it takes. Hodl
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Flashman
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March 31, 2014, 12:02:15 PM |
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By the logic of the naysayers, "there isn't enough dollars for bitcoin to be $1M" ... New York doesn't exist, can't exist, could never have been built... Price per buildable square foot in Manhattan... $400 http://therealdeal.com/blog/2013/11/15/land-prices-get-stupid/Area of Manhattan = 33.77 square miles. Value of all the land in Manhattan = ~376 Trillion USD That's just New York, there's LA, Chicago, Houston .... Edit: Note that the $400 is quoted as the average pre-bubble price, they're saying prices are doubling... so say 750 Trillion if you like... |
TL;DR See Spot run. Run Spot run. .... .... Freelance interweb comedian, for teh lulz >>> 1MqAAR4XkJWfDt367hVTv5SstPZ54Fwse6
Bitcoin Custodian: Keeping BTC away from weak heads since Feb '13, adopter of homeless bitcoins. |
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Sithara007
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Activity: 3192
Merit: 1344
Leading Crypto Sports Betting & Casino Platform
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March 31, 2014, 01:25:15 PM |
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Value of all the land in Manhattan = ~376 Trillion USD That is BS. Right now, the total value of all the real estate (incl. residential, industrial & agricultural) in the USA is <50 trillion USD. |
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Flashman
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March 31, 2014, 02:47:44 PM |
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Annnd, that's because it's not all "For sale" Is every one of the 12M+ bitcoins "for sale" ? I think there's near a million in unretrievable coins that can be documented. The point here is overall value of things that can be valued is greater than the printed USD in circulation. Just farmland exceeds this, http://usda01.library.cornell.edu/usda/current/AgriLandVa/AgriLandVa-08-02-2013.pdf page 16/17 So what if I dig up a basketball sized diamond or meteorite in my back yard, it's my patriotic duty to phone the central bank and tell them they "need" to print a few million more dollars? |
TL;DR See Spot run. Run Spot run. .... .... Freelance interweb comedian, for teh lulz >>> 1MqAAR4XkJWfDt367hVTv5SstPZ54Fwse6
Bitcoin Custodian: Keeping BTC away from weak heads since Feb '13, adopter of homeless bitcoins. |
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apsvinet
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March 31, 2014, 02:51:40 PM |
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Of course Bitcoin value could reach a million USD, granted the USD price goes down to one millionth of it's current price. |
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st4nl3y
Legendary
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Activity: 1050
Merit: 1000
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March 31, 2014, 10:56:49 PM |
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Of course Bitcoin value could reach a million USD, granted the USD price goes down to one millionth of it's current price.  |
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durrrr
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March 31, 2014, 10:59:33 PM |
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Anyone that believes this is an idiot. There is 12,577,500 bitcoin in circulation right now. So with roughly that much bitcoin multiplied to $1,000,000 USD would would make the total value of all the bitcoin $12,577,500,000,000. Thats twelve trillion ,five hundred seventy seven billion ,five hundred million. There was approximately $1.27 trillion in circulation as of March 26, 2014, of which $1.22 trillion was in Federal Reserve notes. "source - http://www.federalreserve.gov/faqs/currency_12773.htm" Anyone that doesn't spot a troll thread that's made only to create discussion is an idiot. why is it so hard to believe that bitcoin could equal 1million? if bitcoin was the main currency then the price of 1 would probally be about 1/2 million or million |
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Bitcoin Magazine
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March 31, 2014, 11:34:59 PM |
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1 million USD? I hope I don't see that day myself, as it means the country will be dead. problem is you can't send small satoshi amounts without incurring large expenses. this is the plan of SatoshiCoin. to be the 16 decimal places past BTCitcoin  |
i am here.
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1btcdream
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April 01, 2014, 01:40:55 AM |
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1 million USD? I hope I don't see that day myself, as it means the country will be dead. problem is you can't send small satoshi amounts without incurring large expenses. this is the plan of SatoshiCoin. to be the 16 decimal places past BTCitcoin So if ever it reached 1 million dollar mark it will be a big problem to spend 1btc on something because of the sending limit problem of bitcoin. Much better to keep and sell 1 whole btc than losing thousands of dollars from each satoshi. |
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oztusk
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April 01, 2014, 01:43:50 AM |
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further divisions are possible but not yet written into the standard client
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<<< "MY DOG ATE YOUR BITCOIN".. mtGox - - "MY DOG IS EATING YOUR BITCOIN"... Antpool - - "We were drinking espresso with shots of vodka at this little cafe. My laptop was on the table. This big dog came up behind us and,.. and..." ... nicehash ANTMINER is currently servicing 20-30% of the entire network hash rate. Enenatis. Quis interdum ac, aliquet nec est. www.bitmaintech.com Euismod risus sed, venenatis tellus. Aliquam vel. Spontaneous emission is not inherent to an emitter, but rather depends on its electromagnetic environment. "THE DOG ATE YOUR BITCOIN".. mtGox |
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semaforo
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April 01, 2014, 03:49:49 AM |
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bitcoin reaching 1 million is a mathematical certainty
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troy112
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April 01, 2014, 03:51:50 AM |
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It will ... Have faith. But you should be alive to watch that happen. And only if America is no more there
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AlextheWolf
Newbie
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Activity: 19
Merit: 0
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April 01, 2014, 04:44:42 AM |
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Of course Bitcoin value could reach a million USD, granted the USD price goes down to one millionth of it's current price. didn't look at it that way. |
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bitpop
Legendary
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Activity: 2912
Merit: 1060
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April 01, 2014, 04:45:34 AM |
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If 12 million people need to store $1 million, then each bitcoin must be worth $1 million
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elavenil
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April 01, 2014, 05:50:21 AM |
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Maybe 300 or 400 years later. I don't think bitcoin will last that much time.
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