BItcoin: The path to $10,000,000 ten million dollars per coin

[DarkDays]

You didn't really provide any justification why Bitcoin would go to more than $10 million per coin, nor why the state-backed cryptocurrencies would fail.

Surely, most countries have a fiat currency that is essentially based on debt. But it is not outside of the realm of possibility that all world countries would simply forgive eachothers debts to end the issue.

Likewise, a country could simply produce its own digital currency that is not pegged to its fiat currency, such that it would be a true rival to Bitcoin. A state-backed cryptocurrency like this would almost certainly surpass bitcoin, at least for the short term.

[Gyfts]

The only way 10 million per coin is when mainstream adoption meets limited supply. As of right now, we have mined upwards of 85% of Bitcoins so the limited supply portion exists. Only part left is mainstream adoption and that does not come easy. You are looking to have the same amount of transactions as credit card processing companies for Bitcoin to become ten million per coin.

[patroncito]

You didn't really provide any justification why Bitcoin would go to more than $10 million per coin, nor why the state-backed cryptocurrencies would fail.

Surely, most countries have a fiat currency that is essentially based on debt. But it is not outside of the realm of possibility that all world countries would simply forgive eachothers debts to end the issue.

Likewise, a country could simply produce its own digital currency that is not pegged to its fiat currency, such that it would be a true rival to Bitcoin. A state-backed cryptocurrency like this would almost certainly surpass bitcoin, at least for the short term.

......not in the long term...im sorry

[patroncito]

The point here is that Bitcoin is the best performing asset in the last 10 years and is 21 million percent up from its creation.

The Point is, anyone that got in early made a lot of money.
Early has been over for years,
2017 the bubble burst and there are no signs of returning to even 20K much less the nonsense you made up.
Odds are just as good bitcoin dies as continues on.

And you need to stop making promises of rich$ that you can't backup.

Then short it....do you think is going to die short it...If you are so sure that bitcoin will die then short it. Would you guarantee everyone here that bitcoin is dead?. post your short trade and ride it all the way up...dumbass

Difference here , little bitch,

Is that I don't need to trick others into investing to make money.

That seems to be your only motive to game new suckers, for your ponzi scheme.

you're funny. 'btc is a Ponzi scheme' argument of suckers. if the government is so great for you and btc is a Ponzi scheme why they haven't destroyed it yet??? oohh btw there are physically settled bitcoin futures already approved  BY THE GOVERNMENT....hey you know what? go play with the dolls

[Tylev]

Of course, bitcoin will never reach the price of ten million dollars. This is not possible for many reasons. First of all, this will clearly not correspond to the material and mental costs for our gross physical world from an economic point of view.
In addition, other types of cryptocurrencies are developing rapidly and many are already circumventing bitcoin in terms of functionality. Therefore, over time, the price between them will gradually equalize. In any case, there should not be too large price differences. The price of cryptocurrency will approximately be arranged in the end as the prices of current ordinary currencies. There is a difference between them, sometimes decent, but none of them differs in price terms like bitcoin in cryptocurrency. Bitcoin will grow in price, but for a short time, after which it will inevitably go to the correction of its course. I don’t think that bitcoin will ever be able to overcome the price of $ 50,000.

[franky1]

The flaw with your thinking , is that the baseline value, ie: amount of electricity paid in fiat to produce a bitcoin will support the price,
as miners will never sell below that price.
And while you are right some miners will never sell below that cost, those same miners can't continue to mine without earning that baseline value, and what we see is miners just going bankrupt.

what your not seeing is the farms with the lowest costs that determine the baseline. these will continue far beyond the hobbyiests and dis-organised pools that have higher costs. the higher cost pools would fluctuate and have drops in their hashpower which leaves those at the baseline cost get more of the slice of the pie, thus survive longer

what you are not seeing is i said while miners progress and increase hashpower and thus bump up the competitive costs of the baseline costs. the dynamics play out as i described. but i said WHILE. meaning that pools can sometimes get cheaper due to more efficient miners and also drop in difficulty. thus the price can go down. again for emphasis i have not said any guarantee's of price changes either way. im just clarifying things people should be aware of so that people know its not a bitcoin to $100m or bitcoin to $0 binary option

Because here is your problem, Governments all around the world are confiscating any bitcoins they can claim were used in criminal enterprises, they then sell those bitcoins at an open market, where they had zero baseline, so it is pure profit.
The Govs can sell confiscated bitcoins over and over again, making a profit while causing your miners to bankrupt themselves.
This shores up their fiat while crashing your bitcoin, and they can do this forever, or until all of bitcoin miners are broken.

In the end, Government seizures will be bitcoin's greatest enemies, and the one destroying your baseline.

govs dont sell on public exchange market.
instead they do auctions.
you might wanna do more research

but lets say a early adopter threw coins at an exchange to sell at any price.. thats just temporary price drama. buyers will see it as discount day to get cheap coins. thus small temporary drama
so relax a little

[adroitful_one]

The only way I could see that would be if like 95% of the worlds population used bitcoin. At 10 million per coin we will do the math. 10,000,000 × 21,000,000= 210,000,000,000,000 or 210 Trillion dollar market cap. The entire planet only makes up around 240,000,000,000,000 (240 trillion dollars)  so the other 30 trillion would have to be in gold. Gold would have to be way cheaper then it is now. It could be possible but i do not see it being in my life time! Lets work on 1 million per coin first!

[patroncito]

The only way I could see that would be if like 95% of the worlds population used bitcoin. At 10 million per coin we will do the math. 10,000,000 × 21,000,000= 210,000,000,000,000 or 210 Trillion dollar market cap. The entire planet only makes up around 240,000,000,000,000 (240 trillion dollars)  so the other 30 trillion would have to be in gold. Gold would have to be way cheaper then it is now. It could be possible but i do not see it being in my life time! Lets work on 1 million per coin first!

There is a misunderstanding on the market cap figure. You don't need an INFLOW of 210 trillion dollars in order to get to that price.

It is only a multiplication of the price by the number of units. It only takes someone to fill a trade at a certain price to get there.

in 2011 nobody could have imagine that a single bitcoin would be worth 15,000 or even 20,000 in the next 8 years.

[HardFacts]

Bitcoin is designed to be more scarce every single day while the population is almost required to increase its demand. Why? Because people will have to sell their failed fiduciary currencies per Bitcoin. The current financial system failed already and people will realize that Bitcoin is the only system to reset everything. Governments will try to create their centralized cryptocurrencies that will fail like the fiat due to hacks and the fact that people will prefer to use Bitcoin. Bitcoin is a blackhole that is swallowing every single fiat bill. 10 million dollars per coin is probably too conservative. People who dont own Bitcoin now will have to own in it later. Those who are acummulating BTC right now will be the richest people in the world. Bitcoin should hit that price in the next 10 years and there is nothing that could stop it.

You are so blinded by the desire to get rich, that you are making a lot of really bad and utterly false assumptions. 

1.  It does not matter how scarce bitcoin is, it has zero intrinsic value.

2.  My " Hard Facts Coin " cryptocurrency is even more scarce than bitcoin, and its is still worth nothing. 

3.  An INFINITE number of non backed cryptocurrencies can be created, just like infinite FIAT.  They will all go to zero.

4.  Being the first cryptocurrency means NOTHING.   How much is the first FIAT money worth   Ha, you do not even know what it is, no one cares.   How about the first Bank It is the biggest in the world ??  Again, no one even knows what the first bank was.  Same with Cryptocurrency, no one will care it was first.

5.   The BLOCKCHAIN is awesome !!!   A world changing technology.  And the crypto currency that will dominate will most likely be a government created GOLD - backed crypto, or backed by some similar real asset.


Make sure you mortgage your house, and put EVERYTHING into bitcoin, you will deserve exactly what you get !!!    You can ignore reality, but you can not ignore the consequences of ignoring reality   

[patroncito]

Bitcoin is designed to be more scarce every single day while the population is almost required to increase its demand. Why? Because people will have to sell their failed fiduciary currencies per Bitcoin. The current financial system failed already and people will realize that Bitcoin is the only system to reset everything. Governments will try to create their centralized cryptocurrencies that will fail like the fiat due to hacks and the fact that people will prefer to use Bitcoin. Bitcoin is a blackhole that is swallowing every single fiat bill. 10 million dollars per coin is probably too conservative. People who dont own Bitcoin now will have to own in it later. Those who are acummulating BTC right now will be the richest people in the world. Bitcoin should hit that price in the next 10 years and there is nothing that could stop it.

You are so blinded by the desire to get rich, that you are making a lot of really bad and utterly false assumptions. 

1.  It does not matter how scarce bitcoin is, it has zero intrinsic value.

2.  My " Hard Facts Coin " cryptocurrency is even more scarce than bitcoin, and its is still worth nothing. 

3.  An INFINITE number of non backed cryptocurrencies can be created, just like infinite FIAT.  They will all go to zero.

4.  Being the first cryptocurrency means NOTHING.   How much is the first FIAT money worth   Ha, you do not even know what it is, no one cares.   How about the first Bank It is the biggest in the world ??  Again, no one even knows what the first bank was.  Same with Cryptocurrency, no one will care it was first.

5.   The BLOCKCHAIN is awesome !!!   A world changing technology.  And the crypto currency that will dominate will most likely be a government created GOLD - backed crypto, or backed by some similar real asset.


Make sure you mortgage your house, and put EVERYTHING into bitcoin, you will deserve exactly what you get !!!    You can ignore reality, but you can not ignore the consequences of ignoring reality   

Another troll!! with only a few posts ever....another troll who thinks that a CENTRALIZED 'gold backed' crypto will beat Bitcoin. ahahahahaahh Thank you for 'non sense'facts

[franky1]

golds COST is its mining cost. golds PRICE is the speculative 'spot' price above cost
the amount of ADDED value on top of cost is the speculative of demand and desire

same goes for crypto
if there is a strong cost of production that will ofcourse and obviously react to form the base line support of the price(periodic low)

many PoS coins have no underlying cost thus their prices are pure speculation.
however POW does have intrinsic value

what people forget those is that christmas 2017-newyear2018's super manic price bubble spike was just hyp. the underlying value was still only a couple thousand and settled to $5k by summer of 2018
which is why the $20k hype bubble didnt last
mining pool s got cheap efficient ways to mine in october which translated to a mining cost down to below $4k which caused the november price to react in the $4k

people need to stop just using the price chart, and definetely stop just using an ATH(all time high) as a reference point.

but instead imagine there is a hiddenline below the price where the real 'intrinsic' value is and above that line is the speculative value

once people start to look it it from that point. things become clearer
much like the gold wholesale vs spot price

anyways. if basing estimates on the mining cost baseline
if miners remained as the $2k 56terrahash generation at 5c electric a kwh
to have a $100m btc the hashrate would need to be over 150,000exahash
so going from 100exa to 150,000
is like if we imagine a hashrate increase of 60% rise a year

1 year 160exa
2year 260exa
3year 410exa
4year 650exa
5year 1,000exa
6 year 1600exa
7year 2,600exa
8year 4,100exa
9year 6,500exa
10year 10,000exa
11 year 16,000exa
12year 26,000exa
13year 41,000exa
14year 65,000exa
15year 100,000exa
16 year 160,000exa

but again theres IF's involved

[HardFacts]

golds COST is its mining cost. golds PRICE is the speculative 'spot' price above cost
the amount of ADDED value on top of cost is the speculative of demand and desire

same goes for crypto
if there is a strong cost of production that will ofcourse and obviously react to form the base line support of the price(periodic low)

ABSOLUTELY WRONG...

It does not matter what mining costs, a lot of energy is put into a lot of things that result in NOTHING, and go bankrupt...

I could spend millions mining a common lava rock, and no one will care, its value will still be ZERO.

You could spend megawatts of energy solving a useless math problem, and its value will still be ZERO.

No one cares how much you put into something, they only care if there is a product that has value or not...

Hard Facts

[Upgate]

Is bitcoin being over dependent by people? I have a feeling this is the case. Bitcoin will not solve all our life problems or would it make all our dreams come true. Let the bitcoin development process be a gradual one

[patroncito]

golds COST is its mining cost. golds PRICE is the speculative 'spot' price above cost
the amount of ADDED value on top of cost is the speculative of demand and desire

same goes for crypto
if there is a strong cost of production that will ofcourse and obviously react to form the base line support of the price(periodic low)

ABSOLUTELY WRONG...

It does not matter what mining costs, a lot of energy is put into a lot of things that result in NOTHING, and go bankrupt...

I could spend millions mining a common lava rock, and no one will care, its value will still be ZERO.

You could spend megawatts of energy solving a useless math problem, and its value will still be ZERO.

No one cares how much you put into something, they only care if there is a product that has value or not...

Hard Facts

I bet this is khaos using a different name, but anyways......nonsensefacts from your point of view what asset has true value? What asset could be better than bitcoin to solve the current financial system debt issues??

[patroncito]

golds COST is its mining cost. golds PRICE is the speculative 'spot' price above cost
the amount of ADDED value on top of cost is the speculative of demand and desire

same goes for crypto
if there is a strong cost of production that will ofcourse and obviously react to form the base line support of the price(periodic low)

ABSOLUTELY WRONG...

It does not matter what mining costs, a lot of energy is put into a lot of things that result in NOTHING, and go bankrupt...

I could spend millions mining a common lava rock, and no one will care, its value will still be ZERO.

You could spend megawatts of energy solving a useless math problem, and its value will still be ZERO.

No one cares how much you put into something, they only care if there is a product that has value or not...

Hard Facts

I bet this is khaos using a different name, but anyways......nonsensefacts from your point of view what asset has true value? What asset could be better than bitcoin to solve the current financial system debt issues??

I bet you're still a dufus, why would I bother using a different name when I already won the argument we were having with this one.

Any one that believes your retarded nonsense, deserves to learn the hard way.  

Don't be surprised that multiple people see thru your bullshit.

FYI:
Bitcoin barely holding $8K, and that won't hold long.

Ahhaahhahahaha YOU GOT TRASHED. Only a drug addict or a very retarded person would think that fiat is better than money and every government would be able to arrest every single person using Bitcoin. How many cops do you need to achieve that? Even jerome powell and Donald trump will have to use Bitcoin. Fiat currencies are doomed. Banks are doomed ....it is just a matter of time befor they collapse and people will realize that Bitcoin is the only way out you dumbo.

[Wintersoldier]

The only way I could see that would be if like 95% of the worlds population used bitcoin. At 10 million per coin we will do the math. 10,000,000 × 21,000,000= 210,000,000,000,000 or 210 Trillion dollar market cap. The entire planet only makes up around 240,000,000,000,000 (240 trillion dollars)  so the other 30 trillion would have to be in gold. Gold would have to be way cheaper then it is now. It could be possible but i do not see it being in my life time! Lets work on 1 million per coin first!

In the first place achieving $10,000 dollars is quite too hard, it needs allot of pushes, ups, and pumps, from whales and massive adoption from many in order to achieve this. Having almost the entire population of the human race to utilize bitcoin is quite impossible to happen unless a huge unifying sector of the world government implements it. Of course, people's freedom will still be prioritized, so they will be independent of choosing which currency to use in crypto and will still utilize their fiats. In conclusion, there's still a lot of improvements that bitcoin needs to fulfill first.

[HardFacts]

golds COST is its mining cost. golds PRICE is the speculative 'spot' price above cost
the amount of ADDED value on top of cost is the speculative of demand and desire

same goes for crypto
if there is a strong cost of production that will ofcourse and obviously react to form the base line support of the price(periodic low)

ABSOLUTELY WRONG...

It does not matter what mining costs, a lot of energy is put into a lot of things that result in NOTHING, and go bankrupt...

I could spend millions mining a common lava rock, and no one will care, its value will still be ZERO.

You could spend megawatts of energy solving a useless math problem, and its value will still be ZERO.

No one cares how much you put into something, they only care if there is a product that has value or not...

Hard Facts

I bet this is khaos using a different name, but anyways......nonsensefacts from your point of view what asset has true value? What asset could be better than bitcoin to solve the current financial system debt issues??

I bet you're still a dufus, why would I bother using a different name when I already won the argument we were having with this one.

Any one that believes your retarded nonsense, deserves to learn the hard way.  

Don't be surprised that multiple people see thru your bullshit.

FYI:
Bitcoin barely holding $8K, and that won't hold long.

Ahhaahhahahaha YOU GOT TRASHED. Only a drug addict or a very retarded person would think that fiat is better than money and every government would be able to arrest every single person using Bitcoin. How many cops do you need to achieve that? Even jerome powell and Donald trump will have to use Bitcoin. Fiat currencies are doomed. Banks are doomed ....it is just a matter of time befor they collapse and people will realize that Bitcoin is the only way out you dumbo.

I have NEVER NEVER posted about cops arresting people for using Bitcoin,  I do not believe that will happen.  I do not think they have the manpower nor need to arrest people for using Bitcoin.  I believe that Bitcoin will revert to its true value of near zero all by itself...   The free market will do what it always does, it might take a while, but the free market will determine Bitcoin value.  😁😁😁

One thing I agree with you on is that Central Banks have made a huge mess with Fiat Currency, but that is a totally different topic.   And there are a LOT of alternatives to the FIAT Currency problem that do not involve Bitcoin...

Hard Facts

[NeuroticFish]

Since people don't understand that their every day money value is decreasing over time indeed, hyperinflation of all the main currencies would be one possible way. (If it happens only for USD, people may switch to EUR or JPY instead of BTC).

In my opinion, in your example, it would be more of EUR or JPY ofor BTC. Just like in Venezuela, whereas even though majority are probably just using USD instead, I think it's pretty safe to assume that a significant amount of people held BTC also(along with the USD).

Well, I do have the example of my country. I lived days when my country's coin inflation was really big.
Back then, in my city people converted their money into DM (Deutsche Mark). When DM was replaced by EUR, people chose USD for about a year until they got convinced EUR is fine, then went for EUR.

While many signals from governments are "Bitcoin is drug money", "stay away from Bitcoin" and so on (luckily not all of them), I expect a big percent of the population still avoid it and the other strong currencies are just fine as long as they can be exchanged at the exchanges from all over the city.

So, as I said, all normal currencies have to fail, and even then many may still chose gold, then Bitcoin.
The conclusion is that the acceptance (in shops) have to increase greatly in order to have a chance for such big numbers for the price (although I think that OP's numbers are exaggerated).

[clickerz]

Governments will try to create their centralized cryptocurrencies that will fail like the fiat due to hacks and the fact that people will prefer to use Bitcoin. Bitcoin is a blackhole that is swallowing every single fiat bill. 10 million dollars per coin is probably too conservative.

maybe it will definitely happen in the future where bitcoin will touch 10 million and this is the time awaited by investors and bitcoin investments because we know bitcoin is a very unique coin among other coins that makes us very sure it will be worth, maybe now many people are starting to slowly adapt to bitcoin because they are now fed up with their finances which can be controlled by the government so they are always fooled by politicians and corrupt.

Maybe not in our lifetime. $10,000,000 dollars per bitcoin, is too ambitious to achieve. It will take several decades maybe, and before that happens more sophisticated technology is discovered and develop. I am not pessimistic about bitcoin and happy if this happens but it seems this prediction is too much-hyped.

[dreamax25]

Here are some Bitcoin price predictions for 2020. Let's hope that the expectations come true.

https://coincodex.com/article/6028/top-bitcoin-price-predictions-for-2020-and-beyond/