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

[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.

The way I see it now, Bitcoin will exist alongside fiat and will probably be regulated.

Bitcoin is impossible to regulate my friend. Banks, central banks and governments are doomed. They would go bankrupt even trying it.

There will be a point in time where everybody will realize that Bitcoin is a blackhole that is everywhere and cannot possibly be stopped.

Fiat will disappear because it will be worth nothing against Bitcoin.

Everybody will HAVE TO use Bitcoin.

This is all just phantasies. I think that bitcoin will never rise in price above $ 50,000. The demand for bitcoin will grow, however, it still will not be able to lead to such a high price.
Also, banks and national money of states will not disappear anywhere. They are under the powerful protection of the state, and a decentralized cryptocurrency does not represent a danger to them.

Fiat currencies always go to ZERO,

Bitcoin is a blackhole that is in the process of swallowing all of them. Everything will be priced in satoshis and there is nothing that could stop this from happening.

Bitcoin growth and adoption will make banks go out of business and FIAT go to zero because people wont use them anymore.

FIAT devaluation + Bitcoin growth is the perfect formula for the banking system extinction.

All of the above factors are creating an unsustainable situation for governments, banks and tax agencies.

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[patroncito]

Actually, Hal Finney predicted 10 years ago that bitcoin could reach $10 million per coin. His assumptions were if the entire world M1 (or cash equivalent) would move over to bitcoin or about $300 trillion or something.
Still, that's going to take at least a couple of decades, so maybe 2040 or 2050 we can revisit this thread and see what has happened.

YES YOU ARE RIGHT, I fkn forgot about that post from Hal Finney...OMG.
But, we are getting to 10 million per coin waaaay before those years.

I believe that you are referring to the post in which he considers the possibility of Bitcoin replacing all the wealth of the world. Simply stated, he is wrong because money can't do that. He is conflating the "store of value" and "unit of account" aspects of money. For example, a house that you own has a value that is part of your wealth, but the house cannot not be replaced by Bitcoin.

It is also a mistake to compare Bitcoin to M1, M2, etc. because those money supply values include the result of fractional reserve banking. The correct comparison is the global monetary base. Matthew Mežinskis and Fernando Ulrich (cryptovoices.com) have done a lot of work along these lines and have come up with a maximum potential value of the Bitcoin money supply -- about 19 trillion USD, or about 900 thousand USD per bitcoin. Keep in mind that those values assume that Bitcoin will replace all of the money, which is not likely to ever happen. Note also that the values do not account for future economic growth and lost bitcoins.

WRONG
...

Don't be an ass. I may make some assumptions that you don't agree with, but that does not make me wrong.

I assume that Bitcoin is (or will be) a form of money, and that people will value it as a money. That is why I think it is valid to equate its value to the other monies in the world.

In contrast, you have yet to support your $10 million valuation by anything more than fantasy, wishful thinking, and irrational exuberance.

You would have said the same when Bitcoin was @ 1 dollar per coin.

"iT is impossible for Bitcoin to reach 1'000 dollars per coin' (It went to 20,000)

[Gi01]

 The future of having to hold bitcoin is bright especially in this market dip. Most currencies are falling so badly and i know in no time, most countries would move in for either bitcoin or using other popular cryptocurrencies. Seriously if you are not investing into bitcoins at this age then you are really missing out big time. Buy and hold patiently for the bull market.

[odolvlobo]

I believe that you are referring to the post in which he considers the possibility of Bitcoin replacing all the wealth of the world. Simply stated, he is wrong because money can't do that. He is conflating the "store of value" and "unit of account" aspects of money. For example, a house that you own has a value that is part of your wealth, but the house cannot not be replaced by Bitcoin.
It is also a mistake to compare Bitcoin to M1, M2, etc. because those money supply values include the result of fractional reserve banking. The correct comparison is the global monetary base. Matthew Mežinskis and Fernando Ulrich (cryptovoices.com) have done a lot of work along these lines and have come up with a maximum potential value of the Bitcoin money supply -- about 19 trillion USD, or about 900 thousand USD per bitcoin. Keep in mind that those values assume that Bitcoin will replace all of the money, which is not likely to ever happen. Note also that the values do not account for future economic growth and lost bitcoins.

WRONG
...

Don't be an ass. I may make some assumptions that you don't agree with, but that does not make me wrong.
I assume that Bitcoin is (or will be) a form of money, and that people will value it as a money. That is why I think it is valid to equate its value to the other monies in the world.
In contrast, you have yet to support your $10 million valuation by anything more than fantasy, wishful thinking, and irrational exuberance.

You would have said the same when Bitcoin was @ 1 dollar per coin.

"iT is impossible for Bitcoin to reach 1'000 dollars per coin' (It went to 20,000)

Sorry, no. This is what I wrote in 2012, when the price was about $10:

...
Anyway, the number of bitcoins doesn't have to be matched to the world's GDP. For example, the amount of dollars in circulation is less than the U.S. GDP.
However, if Bitcoin completely replaced the dollar today, then 1 BTC would be valued at $1 million ($10 trillion dollars in the world / 10 million BTC). Let's shoot for 10% of that!

The numbers have changed as I gained new insight and information, but I was basically saying the same thing then that I am saying now.

[100action]

I'm the biggest bitcoin bull on fundamentals but it wont get anywhere near that under non hyperinflationary scenarios.

$50,000 in the short term (within 5-10 years) would be realistic.

Think on this:

1. There are 105 wallets with 10,000+ BTC and 2027 with  1,000+ BTC
2. If BTC hits $100,000, there will be up to 105 new Bitcoin only billionaires.
3. If BTC hits $1,000,000, there will be up to 2132 new Bitcoin only billionaires.
4. There are only 2,100 billionaires right now.

The expected wealth transfer that would have occur in one generation for BTC to reach $100,000 and $1,000,000 let alone $10,000,000 is ludicrous and won't happen.

[100action]

I'm the biggest bitcoin bull on fundamentals but it wont get anywhere near that under non hyperinflationary scenarios.

$50,000 in the short term (within 5-10 years) would be realistic.

Think on this:

1. There are 105 wallets with 10,000+ BTC and 2027 with  1,000+ BTC
2. If BTC hits $100,000, there will be up to 105 new Bitcoin only billionaires.
3. If BTC hits $1,000,000, there will be up to 2132 new Bitcoin only billionaires.
4. There are only 2,100 billionaires right now.

The expected wealth transfer that would have occur in one generation for BTC to reach $100,000 and $1,000,000 let alone $10,000,000 is ludicrous and won't happen.

For the wealth transfer to happen, people have to be stupid enough to buy bitcoin at it's overly hyped price.
That amount of stupid people does not seem to exist at this moment in time.


Reason the price has been dropping since $20K, is they ran out of rich dummies.
Their is literally nothing bitcoin can do function wise that litecoin can't, and litecoin does it faster and cheaper.
      

You must be retarded.

Litecoin is a fork of a BTC that sacrifices security and decentralisation for slightly more throughput.  First mover SOV won't be displaced.

BTC is here to stay and the prices will continue to grow (as long people use inflationary FIAT currencies).

[DooMAD]

So you're a dumbass, that only thinks coins with bit in the front are valuable.
Enjoy your stupidity while it lasts. 
For others price / performance matters.

If that's the case, then how stupid must the rest of the world be for not adopting LTC and making it the #1 crypto?  I mean, if it really is that much better and all... everyone has had ~8 years to notice it.  Surely Bitcoin should have been left in the dust by now if that were the only consideration?

That, or you're wrong.  As usual.

If performance was the only thing that mattered, people would buy mopeds powered by jet engines.  But they don't, because it would involve making sacrifices in other areas.  The trade-offs are simply not worth it.  If you are incapable of understanding why compromises are sometimes undesirable, perhaps it is you who fulfils the role of dumbass in this conversation.

[Gheka]

The future of having to hold bitcoin is bright especially in this market dip. Most currencies are falling so badly and i know in no time, most countries would move in for either bitcoin or using other popular cryptocurrencies. Seriously if you are not investing into bitcoins at this age then you are really missing out big time. Buy and hold patiently for the bull market.

We cannot deny that the value of bitcoin is gradually guaranteed and affirmed by the community and countries around the world, with every passing day in the world, bitcoin will be known and invested more, and with this base, a good future of bitcoin is welcoming us and right is like you said, if someone hasn't bought bitcoin right now, they are wasting valuable time. However, don't let the brilliance and rumors of bitcoin make us expect more from it, focus on the milestones and make a profit from it, instead of believing in unrealistic topics like here

[blandana]

It's an insult to see this thread get more than 200 reponses.  This isn't going to happen in your lifetime if it ever does.  It's going to take probably fifty years to even get close let alone even 10% of that estimation.  Are you trying to make me puke?

This isn't a company owned by someone who knows what they're doing.  It's a shitfest of angry people who consantly abuse people trying to get attention and act like they are smart like the author of this post. 

Talk is cheap.  Stop being fictional and come down to earth thanks.
If brookshire hathaway hasn't reach a million yet, bitcoin isn't going to even come close.  Stop being so dumb please.

[patroncito]

It's an insult to see this thread get more than 200 reponses.  This isn't going to happen in your lifetime if it ever does.  It's going to take probably fifty years to even get close let alone even 10% of that estimation.  Are you trying to make me puke?

This isn't a company owned by someone who knows what they're doing.  It's a shitfest of angry people who consantly abuse people trying to get attention and act like they are smart like the author of this post. 

Talk is cheap.  Stop being fictional and come down to earth thanks.
If brookshire hathaway hasn't reach a million yet, bitcoin isn't going to even come close.  Stop being so dumb please.

WRONG

1. It is so obvious that you dont know anything about Bitcoin

2. You cannot possibly compare a company witj Bitcoin

3. Berkshire can issue as many shares as they want.

4. Berkshire is a centealized company, Bitcoin is not

5. You would have said the same when Bitcoin was $0.05 cents a coin.

"It is fictional for Bitcoin to get to $500 dollars a coin. It wont happen in our fkn lifetime" (Went to 20,000 already)

[patroncito]

So you're a dumbass, that only thinks coins with bit in the front are valuable.
Enjoy your stupidity while it lasts.  
For others price / performance matters.

If that's the case, then how stupid must the rest of the world be for not adopting LTC and making it the #1 crypto?  I mean, if it really is that much better and all... everyone has had ~8 years to notice it.  Surely Bitcoin should have been left in the dust by now if that were the only consideration?

That, or you're wrong.  As usual.

If performance was the only thing that mattered, people would buy mopeds powered by jet engines.  But they don't, because it would involve making sacrifices in other areas.  The trade-offs are simply not worth it.  If you are incapable of understanding why compromises are sometimes undesirable, perhaps it is you who fulfils the role of dumbass in this conversation.

Use the word Dumbass , and DooMad magically appears.
Almost like I called you up.  

Don't you think your daddy Carlton Banks is going to smack you.  

Price / Performance matters and only utter fools can't see that.

Bitcoin has priced itself out of the 3rd world countries already.
Only 1st world fools are buying it, and they have been running out of fiat since the 20K bubble burst.

Example,
A person can send an email for free.     (Faster  / Cheaper )
A person can mail a letter for 50 cents  (Slower / More Expensive)

Now you can claim the mail is more secure, but no one cares.
Faster Speed at Reduced Prices is more important.

Litecoin  (Faster  / Cheaper )
Bitcoin   (Slower / More Expensive)

As far as security goes , both have the same security, irrelevant of the energy wasted
Bitcoin is secured by no more than the top 4 BTC mining pool operators,
Litecoin is secured by no more than the top 4 LTC mining pool operators.  

Their is nothing bitcoin can do , that Litecoin is not doing Faster and at a lower cost.

I am sorry khaos, but i don't see anyone talking about

Litecoin anywhere.

Besides Bitcoin there is a huge cryptocurrency that is a lot

better than litecoin and will be more used than

Litecoin......that is Monero. No one will care about other

altcoins once people realize the power of Monero.

The only issue with monero is that it does not have a

supply cap and is not that secure like Bitcoin.

That is why Bitcoin is the only alternative to the current

financial system.

SHITCOINS LIKE LITECOIN, BANKS AND FIAT ARE DOOMED

[BADecker]

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.

Right. And when there is only one bitcoin left in the whole world, with a tiny change in the program, a satoshican be divided into billions of tinier pieces. Fiat does this through inflation.

[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.

Right. And when there is only one bitcoin left in the whole world, with a tiny change in the program, a satoshican be divided into billions of tinier pieces. Fiat does this through inflation.

WRONG

That does no cause inflation. People will have the same amount of Bitcoin just with more decimals


GO BACK TO SCHOOL WITH KHAOS

[carlzec]

I think the bitcoin price will rise too much. But I think the bitcoin price will not be $ 1 million. If Bitcoin is $ 1 million. Do we know who will have this power? I think all markets are in danger. I think a sensible price of 100000 dollars for bitcoin.

[Wintersoldier]

It's an insult to see this thread get more than 200 reponses.  This isn't going to happen in your lifetime if it ever does.  It's going to take probably fifty years to even get close let alone even 10% of that estimation.  Are you trying to make me puke?

This isn't a company owned by someone who knows what they're doing.  It's a shitfest of angry people who consantly abuse people trying to get attention and act like they are smart like the author of this post.  

I understand how people could promote cryptocurrencies in their own way, but I think your style is some sort of exaggerated. Bitcoin could still be at its lowest dip no matter how good it already achieved before. There are limitless possibilities that could happen in bitcoin depending on us, people who are utilizing it.

I see you hate banks too much, and you really want the adoption of cryptocurrencies. What if we think of other ways where banks could not be hurt too much and at the same time, people start to look positively on crypto.

[CookieGums]

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.

I agree to you that bitcoin might reach such a huge price in future. Bitcoin is the future currency. Before we only use fiat because we do not have technology but now that the worls become more of technology and in future become the technology itself. There is no need to use fiat. We will use currency in technology and that is bitcoin.

The only problem for me is that i do not have enough bitcoin that can sure, i'm one of the richest people. So i am working hard. For this future.

[Dabs]

That's actually a good bet. Get a whole coin. 1 BTC. Put it in cold storage with multiple backups. Don't touch for 10 or 20 years. You'll have between $1m to $10m then. Or even if you have $100k or $50k, that's a much better return than almost anything else out there.

[Dabs]

That is true. There are no guarantees on returns. There never have been. Past performance does not guarantee future returns. They just tend to rhyme.

I mean, if you go look at the overall stock market, the average returns for the past several decades is consistent, but again, there are no guarantees that the future will perform the same way. It just seems likely it will.

Bitcoin is only 10 years old. Very new. Very nascent. Don't risk more than you can afford to lose, because it is possible to go to zero.

[msarro]

You know if you truly believe the nonsense that Bitcoin will reach $10 million per coin,
then all you need to do is buy .1 Bitcoin for $738.68 now and hold it until the fantasy comes true and your .1 bitcoin is worth $1 million US$.
Odds are however, you just end up losing the $738.68, but at least you won't keep throwing your fiat down a money pit making a scammer like patroncito richer.  

First, we have 50K USD per bitcoin, then 100,000 USD per bitcoin and now 10 Million USD per bitcoin. You are right why buying the whole bitcoin, why not buying just few satoshis that can give you a hundred thousand USD profit.
Surprisingly, OP says fiat (USD) will completely fail in the next ten years but bitcoin will still be measured in USD   

[Argoo]

I think the bitcoin price will rise too much. But I think the bitcoin price will not be $ 1 million. If Bitcoin is $ 1 million. Do we know who will have this power? I think all markets are in danger. I think a sensible price of 100000 dollars for bitcoin.

Even the price of one hundred thousand dollars for cryptocurrency is a lot. It is unlikely that we will see the price of bitcoin even at one hundred thousand dollars. The cryptocurrency market has not fully recovered after Bitcoin reached a price of $ 20,000 two years ago. What will happen if its price rises to 40,000 - 50,000 dollars?