Will 1 Bitcoin will Reach 1 million usd one day?

[roslinpl]

This is funny thread because all those speculations are outstanding

Bitcoin = 1million $ ....

Wow imagine ...

[nthunder]

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"

I'm not sure total USD in circulation is a good valuation point for Bitcoin. First there is an international aspect, BTC is not restricted to USA. Second the $1.27 trillion represents dollars in circulation. But one dollar can be exchanged twice, thrice or multiple times. A much better indicator I think is gross domestic product (or gross national product) because this represents the total market value of goods produced domestically (at a national level respectively) per year.

And for the optimists, since BTC is international why not take the foreign exchange market as a reference point. According to Bank for International Settlements, trading in foreign exchange markets averaged $5.3 trillion per day in April 2013. Again that's per day! Can you imagine what would happen if only a fraction of these transactions would be done in BTC?

[nthunder]

Will 1 Bitcoin will Reach 1 million usd one day? One day it will be 2 million usd!

Lets first wonder about when we'll hit 1K again. 

Probably this year

[Onews1990]

Maybe it will,some day sometime but not in this millennium most likely. if it reaches $1k we will be satisfied enough.

[counter]

A part of me really wants to say yes and another part wants to say I don't know.  Truth be told I'm leaning towards yes...  We shall see.

[bryant.coleman]

If it reaches $1k we will be satisfied enough.

Whats there for gaining satisfaction if it hits 1K? It has already hit 1.2K. Let's aim for 10K.

BTW... exchange rates won't matter much now. If some of the UN member nations recognize BTC as an alternative to fiat, I'll be extremely satisfied.

[Swordsoffreedom]

If it reaches $1k we will be satisfied enough.

Whats there for gaining satisfaction if it hits 1K? It has already hit 1.2K. Let's aim for 10K.

BTW... exchange rates won't matter much now. If some of the UN member nations recognize BTC as an alternative to fiat, I'll be extremely satisfied.

So would I since this can now be said to be around 60% below the peak price and the support base for the next price rise
Just need some strong positive news

[nthunder]

If some of the UN member nations recognize BTC as an alternative to fiat, I'll be extremely satisfied.

+1

[BitCoinDream]

It may ...but the bigger Q is what would be the value of 1 million USD then ?

[ChuckBuck]

If it does reach 1 million US Dollars it won't be when any of us are alive.

Hopefully our children's children get to see it one day.

[nthunder]

This thread looks totally absurd as the market is falling each day at the moment..!

I think the 1.2k apex was driven by a "gold rush" like event with BTC breaking in the front page of Google News. It then followed a bubble/land slide effect and has now stabilized at 4-5 hundred levels. Stability is good, it's very good in fact and Bitcoin has bravely held many hurdles (Mt Gox, China, Russia, etc). Yes, it will oscillate more then the dollar but consider it is still a new technology and the world has still to adapt to it. Traditional currencies oscillate also, consider USD exchange rates during Bernanke talks or Bureau of Economic Analysis announcements.

A stable $400 level is better than a highly inflated $1200. And although it might not seem like it now, BTC will rise again. It has nowhere else to go but up.

Happy Mining!

[driver]

the big smart experts once said bitcoin would stabilize at about 800.00 about now . Seems they were off by a bit . the price is going to fall again . I have not looked today but I bet it is less than 450.00 . the only people that are happy now are those that bought thousands of $ worth when they were just pennies . Lucky people bought during the rise and got smart and sold off at above 800.00. Anyone buying after that was simply being foolish.
 I sold mine off for some other coin . can not even remember what as the whole thing got quite uninteresting and having many accounts to just simply buy and sell the silly coins was complicated.
Here is the simple test for anything any product to go big  -- Is it easy to purchase  and sell ? ... bitcoin is the hardest thing I have ever tried to buy and puts you at extraordinary risk of identity theft due to the info you must give to companies you have no idea who they are and can simply be opened by anyone wishing to steal and sell your info and your cash or bitcoins.  it will never ever ever be a mainstream currency . If you think it will then you live in a fantasy world inside your own mind .

[poopsquad123]

It cant reach that high because multi billion dollar companies will still have transactions with real money no matter how high the price of BTC. It is very unlikely but i think BTC can be valued at 2000$ by 2016

[bitpop]

A million dollar Bitcoin will become reality very soon

[softron]

Maybe when people stop using cash

[freedomno1]

Maybe when people stop using cash

Been steadily occurring with credit cards and what not so who knows

[bryant.coleman]

Hopefully our children's children get to see it one day.

I doubt that too. Market Cap of 21 trillion? Not possible with the current world population.

[Holdaaja]

If dollar goes down then of course. And it can go way more than 100 000$ even without dollar dropping.

[sanjoea]

Definitely it will not , some other currency may dominate, there is a possibilities

[Harlbatr]

A million dollar Bitcoin will become reality very soon

Are you sure about that? What is your arguments ?