1BTC Reaching 1million Still Unrealistic

[Murpheus]

I stumbled on a post on this platform about 1 sat being $1, but am gonna do a simple calculation if 1sat was equal $0.01...

I just want to do some mathes, if you don't like mathematics, stop reading already...  

Currently the total wealth in the world is sitting at $360trillion, cool....
It won't make sense if the total number of BTC that will ever be takes more than 8% of that number, let's do the math already
If 1BTC is worth $1,000,000

Therefore 21,000,000BTC will equal
 21,000,000 × 1,000,000 = $21,000,000,000,000

Thats what $21trillion, almost 8% of all the wealth in the world??

Wealth measures the value of all the assets of worth owned by a person, community, company, or country. Wealth is determined by taking the total market value of all physical and intangible assets owned, then subtracting all debts.

So if BTC takes all 8% to itself, what about real estate and all the other sectors??
P.S I didn't do economics anyways, and by the way how do I add pictures on my post??

[LFC_Bitcoin]

Bitcoin has gone from nothing to (recently touching) $42,000 in 12 years. I think it’s absolutely possible, probably likely that we see $1,000,000 per coin before 2030. Traditional investments & savings, fiat currencies etc are dying before our eyes. We’re probably going to see the biggest depression & financial crisis the modern world has ever seen due to covid. An institutional tidal wage of investment is coming this year.

Be smart, buy BTC.

HODL!

[mk4]

The rough estimation of gold's marketcap is at around 10 trillion USD. 21 trillion USD is pretty much just a bit more than double that. So while I'm not saying that it will happen(because who knows), it's really not overly unrealistic.

Taking into consideration that A LOT of people outside of first world countries like the United States doesn't have easy access to gold CFDs and gold custodial services(to protect themselves from inflation); whereas Bitcoin is multiples of magnitudes far easier accessible to everyone, and taking note that people could actually hold their bitcoin in their own non-custodial wallet and don't need to risk seizure and being censored by custodial services. Bitcoin being far superior vs gold(in the long term) besides the physical uses of gold is what makes me think that Bitcoin could reach far greater heights.

Hmm... I think OP mean to add pictures on his post, not an avatar right? So he can do that (since the requirement is at least Jr.Member)

Whoops.

[Jawhead999]

If Bitcoin reach 1 million, then real estate and all other sectors will lost some investors since they're start to invest on Bitcoin. I think most of investment (e.g. stock, precious metal, real estate) will still exist, but the value are dropped since less investors. Bitcoin will be save haven asset (the next gold but a modern form & new technology)

by the way how do I add pictures on my post??

You need to upload your image to "image hosting (e.g. imgbb, imgur)" after you upload it, you can copy paste the BBCode and put the link here.

and by the way how do I add pictures on my post??

You need full member rank for that.

• https://bitcointalk.org/index.php?topic=178608.0
• https://bitcointalk.org/index.php?topic=2818350.0

Hmm... I think OP mean to add pictures on his post, not an avatar right? So he can do that (since the requirement is at least Jr.Member)

[BlackHatCoiner]

Currently the total wealth in the world is sitting at $360trillion, cool....

You have to understand that you're not measuring it objectively, because you can't. There is no unit that measures the value of all these, each one of these can be measured by dollar, but that doesn't mean that it'll remain forever the same. I'm trying to tell you that since dollar is an inflationary currency, these 360 trillion (that I'm not sure they're that many) can be increased in the future. Why? There will be more dollars in the future! If you print katrillions and katrillions, the trillions mean nothing.

To answer you, no, I don't find it unrealistic. Not even close, I actually believe that it'll happen pretty soon in this decade. Especially if you observe that comparing to last year, bitcoin has x10 its value. (lol I don't know how to write that)

[serjent05]

Currently the total wealth in the world is sitting at $360trillion, cool....

You have to understand that you're not measuring it objectively, because you can't. There is no unit that measures the value of all these, each one of these can be measured by dollar, but that doesn't mean that it'll remain forever the same. I'm trying to tell you that since dollar is an inflationary currency, these 360 trillion (that I'm not sure they're that many) can be increased in the future. Why? There will be more dollars in the future! If you print katrillions and katrillions, the trillions mean nothing.

To answer you, no, I don't find it unrealistic. Not even close, I actually believe that it'll happen pretty soon in this decade. Especially if you observe that we comparing to last year, bitcoin has x10 its value. (lol I don't know how to write that)

Same here, I also find it realistic but it may happen in the far future.  All those calculations made by OP are created using the whole supply of Bitcoin but the question is, are all supply of BTC being traded?  From that, there is already a huge discrepancy in the result.  Not saying that Bitcoin is actually a deflationary currency due to the BTC losses in the span of its history. It may look impossible today, the same way $40k BTC is impossible way back in 2010 when there is no demand even if someone auctioned 10k BTC for only $50.

[Mpamaegbu]

Well, I do think now that the $1million per Bitcoin is overtly ambitious. At some point people are going to start moving away from Bitcoin because of issues it has continually not been able to resolve till date but we never can tell when that will be. How is it we always get the issue of clog up in transactions every time Bitcoin prices surge? This has persisted and the numerous forks haven't even been able to solve that. Transactions take over 24hrs to get through. Sometimes, it stretches to 72hrs or more. I know some one will argue that it depends on low fees used but this isn't true. What about wallets where there is a fixed fee, yet transactions don't get through as and when due. This is really frustrating, I must tell you. People won't stick to this frustration a long time without seeking better options soon. And when this happens, demand for Bitcoin will drop drastically just like it did after 2017.

[btcsmlcmnr]

Therefore 21,000,000BTC will equal
 21,000,000 × 1,000,000 = $21,000,000,000,000

Thats what $21trillion, almost 8% of all the wealth in the world??

$ 1 million dollar is a moon price and bitcoin has to rise a lot to reach it. Do you think total asset of all wealth in the world won't increase in the same time?

The ratio of bitcoin marketcap when bitcoin price is $1 million dollars per total wealth in the world will be higher or lower than 8%, at that day.

Wealth distributions change dramatically over decades.

Trends in income and wealth inequality

You will see it realistic or unrealistic after bitcoin makes its highest price for this halving cycle. The market is bullish and we need to see the next bearish market to see how high that price is and compare it to the 2017 all time high. If it can be a 20-fold price for 2017 ATH, history repeats and you can say $ 1 million dollar is realistic after in next 2 halvings.

[gurunanakji777]

It's unrealistic for now but one can not predict the future of Bitcoin by some calculation. BTC can reach any heights as I believe it has huge potential but I disagree 1 satoshi equals to $1 value that is beyond expectation.

[serjent05]

Well, I do think now that the $1million per Bitcoin is overtly ambitious. At some point people are going to start moving away from Bitcoin because of issues it has continually not been able to resolve till date but we never can tell when that will be. How is it we always get the issue of clog up in transactions every time Bitcoin prices surge? This has persisted and the numerous forks haven't even been able to solve that. Transactions take over 24hrs to get through. Sometimes, it stretches to 72hrs or more. I know some one will argue that it depends on low fees used but this isn't true. What about wallets where there is a fixed fee, yet transactions don't get through as and when due. This is really frustrating, I must tell you. People won't stick to this frustration a long time without seeking better options soon. And when this happens, demand for Bitcoin will drop drastically just like it did after 2017.

Well, this issue happened every time  Bitcoin price surges, but the question is, are people already moved away from Bitcoin?  I think no because we are still here even though we have been experiencing this for several years now.  Besides, there is already a proposed solution to this problem, and that is the LN.  Maybe we need to wait for the LN to be fully implemented before putting the conclusion of the transaction issue being unsolved.  Development is always in progress thus, the network problem now, may probably just history in the future.  The only threat I can see now on fulfilling that 1 million BTC price is the meddling of the authorities.

[buwaytress]

Bitcoin has gone from nothing to (recently touching) $42,000 in 12 years. I think it’s absolutely possible, probably likely that we see $1,000,000 per coin before 2030. Traditional investments & savings, fiat currencies etc are dying before our eyes. We’re probably going to see the biggest depression & financial crisis the modern world has ever seen due to covid. An institutional tidal wage of investment is coming this year.

Be smart, buy BTC.

HODL!

And as I like to remind myself cheekily, that's 0 to 42,000 is literally, an infinite expansion;) But if we take the earlliest transaction of about $30 (2 very expensive pizzas) for 10,000 BTC, then it's a growth of 0.3 cents to $42k -- many millionfold in over ten years.

42k to 1 million is only about 25 times growth.

Of course, our brains and pragmatism say this 25 times growth will be so much harder than $1k to $20k, but math does tend to be blind, if we want to use math for this sort of entertaining speculation.

[Serious475]

I stumbled on a post on this platform about 1 sat being $1, but am gonna do a simple calculation if 1sat was equal $0.01...

I just want to do some mathes, if you don't like mathematics, stop reading already...  

Currently the total wealth in the world is sitting at $360trillion, cool....
It won't make sense if the total number of BTC that will ever be takes more than 8% of that number, let's do the math already
If 1BTC is worth $1,000,000

Therefore 21,000,000BTC will equal
 21,000,000 × 1,000,000 = $21,000,000,000,000

Thats what $21trillion, almost 8% of all the wealth in the world??

Wealth measures the value of all the assets of worth owned by a person, community, company, or country. Wealth is determined by taking the total market value of all physical and intangible assets owned, then subtracting all debts.

So if BTC takes all 8% to itself, what about real estate and all the other sectors??
P.S I didn't do economics anyways, and by the way how do I add pictures on my post??

I don't think that it is unrealistic because if you really have a positive mindset then you have to think that bitcoin can reach any amount you want it to reach. Maybe it really cannot reach 1 million but if you always think on a negative way even if it is true, you cannot reach even a small goal. Positive thinking has a lot of effects to you and to what you do like it can help you to solve problems, build resilience and improves decision making. However, positive thinking with only itself and no action is not a effective because you also need to give action or else the positivity you have will be worthless. By the way, 8% of total wealth in the world won't give a bad effect because it can be adopted by all the country and if that thing happens, the different currency that is counted to the total wealth in the world will be removed.

[20kevin20]

Would 8% of the world's wealth be that much, considering it's a global currency giving you some freedom no other currency is able to give?

I don't think $1M/coin is far-fetched. It's less than 30x the current price - and there have been larger bumps in BTC's history. Bitcoin's proven many, many people wrong when it comes to how large and powerful it can become. If it was able to get to $37k from nothing, why would it stop here?

[Wenbing]

Well it depends on market forces, just as we have seen the market movement in recent times. Let me buttress with this.

 Fixed Supply of Bitcoin.
With this core economic principle that btc is built upon, the demand of btc will always exceed the supply. What that means is an increasing surge in the price of btc.

Hence, btc would continue to rise provided there is demand by retail and institutional investors.

It's unrealistic for now but one can not predict the future of Bitcoin by some calculation. BTC can reach any heights as I believe it has huge potential but I disagree 1 satoshi equals to $1 value that is beyond expectation.

There is nothing impossible. We have seen the following happening in the market lately.
1. How Dogde coin rose from a low level due to the activities of some powerful figures.

2.we have seen how Gamestop stock Price rose to a very high price due to the Redittors activities.

Hence, btc can rise to an unprecedented level if ceteris paribus.

[moderator's note: consecutive posts merged]

[Oceat]

For now, it might be unrealistic since it's too far to happen yet and we aren't using satoshi yet to compare a single dollar but when the right time comes we aren't here anymore. I wonder if Bitcoin would still be active if that time comes but what if there's a currency that people are using in the future? I can't tell anything about the future yet but it's sure a wonderful year especially if Bitcoin is still in used and 1BTC is equivalent to a six-figure price. Isn't it amazing? The unrealistic price turns out real in the future.

[Welsh]

At the end of the day, I would think that many people who have bought into Bitcoin would have gotten out before that figure ever comes, and Bitcoin will become a more, and more exclusive currency, which could either increase value more, or kill it completely . It completely depends on whether Bitcoin will still be accessible, and whether the demand is there. The great news is, Bitcoin can actually scale very well, when compared with traditional currencies. Yes, owning 1 Bitcoin, might be out of the reach of many people in the future, but that doesn't mean you can't own 0.000001 of Bitcoin. The only issue, is people are viewing Bitcoin as a traditional currency right now, that 1 Bitcoin is the goal for many people. However, any small amount of wealth you collect now, could very well make you a millionaire in the future. Bitcoin literally has a infinite price expansion right now, and I think most people are optimistic that we will see a new all time high, within the next few years.

For now, it might be unrealistic since it's too far to happen yet and we aren't using satoshi yet to compare a single dollar but when the right time comes we aren't here anymore. I wonder if Bitcoin would still be active if that time comes but what if there's a currency that people are using in the future? I can't tell anything about the future yet but it's sure a wonderful year especially if Bitcoin is still in used and 1BTC is equivalent to a six-figure price. Isn't it amazing? The unrealistic price turns out real in the future.

It should still have quite a few people involved, but as I mentioned above it might price people out of owning 1 Bitcoin. However, as you mentioned Satoshi's do exist, and therefore Bitcoin is far better than scaling than any other currency that I'm aware of. Meaning, that even if one Bitcoin reached a million dollars, then it would still be accessible using Satoshi's. Unfortunately, the drawback is that becomes complex quickly, and the lack of a safety net, could mean a lot of people misplacing a decimal point, and losing money.

These are obstacles that I think will be overcome through various software implementations to prevent accidents from happening.

[pawanjain]

I stumbled on a post on this platform about 1 sat being $1, but am gonna do a simple calculation if 1sat was equal $0.01...

I just want to do some mathes, if you don't like mathematics, stop reading already...  

Currently the total wealth in the world is sitting at $360trillion, cool....
It won't make sense if the total number of BTC that will ever be takes more than 8% of that number, let's do the math already
If 1BTC is worth $1,000,000

Therefore 21,000,000BTC will equal
 21,000,000 × 1,000,000 = $21,000,000,000,000

Thats what $21trillion, almost 8% of all the wealth in the world??

Wealth measures the value of all the assets of worth owned by a person, community, company, or country. Wealth is determined by taking the total market value of all physical and intangible assets owned, then subtracting all debts.

So if BTC takes all 8% to itself, what about real estate and all the other sectors??
P.S I didn't do economics anyways, and by the way how do I add pictures on my post??

That's quite possible if you look at it's historic data and no, it is not even so unrealistic as you are calling it to be.
Bitcoin has been rising at a good pace and it is the trust that people have on bitcoin which is giving it it's value.
Unlike USD bitcoin is not so inflationary. The feds are printing millions of dollars every year out of thin air causing inflationary spikes destroying the economy.
I believe anything can happen because people have already started realizing this fact and how revolutionary bitcoin is.
Bitcoin reaching $1,000,000 will definitely happen in a few decades or may be soon.

[AniviaBtc]

If Bitcoin reach 1 million, then real estate and all other sectors will lost some investors since they're start to invest on Bitcoin. I think most of investment (e.g. stock, precious metal, real estate) will still exist, but the value are dropped since less investors. Bitcoin will be save haven asset (the next gold but a modern form & new technology)

Other investment will probably be outdated if that happens. Real estates, stocks, and metals will still exist but only minimal investors will invest on it of bitcoin reached that kind of price. That's is somehow reasonable, if bitcoin reached today's price from scratch or zero, then it is also possible that bitcoin can reach $1,000,000 in the near future. But the question is "when?", maybe that span of time is so long that we're already dead and the next generation is benefiting our bitcoin. That's the reason why we should invest right now on bitcoin because this cryptocurrency can secure our future. Right now, you can invest in different investment to have other sources of profits in the market.

[mindrust]

If Bitcoin reach 1 million, then real estate and all other sectors will lost some investors since they're start to invest on Bitcoin. I think most of investment (e.g. stock, precious metal, real estate) will still exist, but the value are

I don't think anybody will buy any btc from those prices. I am not saying it can't reach those prices it very well can but it will be a manipulated price probably. Most of the bitcoin supply is being controlled by what, like 1000 people? They can send the price to $1m or even $1b. Yeah, $1 Billion.

[0t3p0t]

I stumbled on a post on this platform about 1 sat being $1, but am gonna do a simple calculation if 1sat was equal $0.01...

I just want to do some mathes, if you don't like mathematics, stop reading already...  

Currently the total wealth in the world is sitting at $360trillion, cool....
It won't make sense if the total number of BTC that will ever be takes more than 8% of that number, let's do the math already
If 1BTC is worth $1,000,000

Therefore 21,000,000BTC will equal
 21,000,000 × 1,000,000 = $21,000,000,000,000

Thats what $21trillion, almost 8% of all the wealth in the world??

Wealth measures the value of all the assets of worth owned by a person, community, company, or country. Wealth is determined by taking the total market value of all physical and intangible assets owned, then subtracting all debts.

So if BTC takes all 8% to itself, what about real estate and all the other sectors??
P.S I didn't do economics anyways, and by the way how do I add pictures on my post??

The only solution to this is to hodl Bitcoin today no matter how small we have as long as it is Bitcoin it will count when price reach like a million dollar a coin. For worst case scenario Hodl will makes any sense mark my word.