Bitcoin could hit $10M in 9 years but more sidechains needed: Blockstream CEO

[worle1bm]

We all know that with growing popularity of btc the demand is also rising giving price boost but $1M is too big speculation at this time according to me as there needs to be huge investment flow in the market combining both institutions and retail investors contribution.If we say about more then a decade then we can expect prices to say rise above $500k per bitcoin without any existence of sidechains as we already hit $68k so $100k is achievable fast in coming years.But $1M is something big we can't say will happen or not.

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[Sayeds56]

Can bitcoin marketcap get to 200 trillion? Expecting the price to be around $10 million at the time.

Bitcoin enthusiasts believe that its limited supply and potential use as store of value could drive its price higher in the future but It won't be so easy for Bitcoin market to reach 200 trillion dollars in 9 years, the total market capitalization of all publicly traded companies in the world is estimated around 100 trillion dollars. If Bitcoin were to achieve 200 trillion dollars capitalization, it would be worth more than entire global stock market. It is difficult to predict if and when market cap will reach this level. Such s scenario would likely require massive increase in demand, continued adoption and use of crypto currency as store of value and method of payment. It is also possible that new technological developments and changes in regulatory laws could impact significantly the value of Bitcoin.

[slaman29]

Exactly. This isn't like an iphone or a new Samsung Galaxy with new features, so people buy them just because it's the latest, and it can take photos at night or it can make you look beautiful while you're walking.

Maybe it's not a good comparison since Bitcoin is not a physical object to show around, unless you have one of those expensive watches that have some interesting features that you can certainly flaunt around. Maybe some will disagree, but I have never considered Bitcoin a status symbol, but those who think differently obviously do not understand that they are endangering the personal safety of themselves and their loved ones - of course I mean us mere mortals, not people like Saylor or the famous W twins.

Bitcoin may not be physical but that's why I mentioned NFTs (or even altcoins like Shiba Inu). These were stuff you talked about and showed off that you got, I seen it on TV talkshows and even on radio. People talk about them like they talk about their latest vacation or their latest bling. It's actually quite a good comparison as you say, a status symbol.

Without needing to see it, people already imagine these things and "admire" the people who own them.

Bitcoin, for better or for worse, will never be that status symbol. If you talk about it on a TV talkshow or on radio, people will generally view you as scammer or con artist or crazy. Plus, people who talk about Bitcoin usually don't even talk about the latest upgrade or tech or whatever. Always about x10 POTENTIAL lol.

[Lucius]

~snip~
Bitcoin, for better or for worse, will never be that status symbol. If you talk about it on a TV talkshow or on radio, people will generally view you as scammer or con artist or crazy. Plus, people who talk about Bitcoin usually don't even talk about the latest upgrade or tech or whatever.

I've been there and seen everything, and believe me, I don't want to get into such situations again - you try to explain to a person what Bitcoin is, and in the end he concludes that it's a money laundering scheme or that you want to give him some ref link through which he has to join. Of course there are ref links to CEX or various other Bitcoin related things, but that is a side issue and not the point of the whole thing.

Always about x10 POTENTIAL lol.

Some are not satisfied even with the possible x10 and investing in BTC is therefore no longer interesting to them, but everyone has the freedom of choice to do what they want with their money.

[justdimin]

Bitcoin may not be physical but that's why I mentioned NFTs (or even altcoins like Shiba Inu). These were stuff you talked about and showed off that you got, I seen it on TV talkshows and even on radio. People talk about them like they talk about their latest vacation or their latest bling. It's actually quite a good comparison as you say, a status symbol.

Without needing to see it, people already imagine these things and "admire" the people who own them.

Bitcoin, for better or for worse, will never be that status symbol. If you talk about it on a TV talkshow or on radio, people will generally view you as scammer or con artist or crazy. Plus, people who talk about Bitcoin usually don't even talk about the latest upgrade or tech or whatever. Always about x10 POTENTIAL lol.

Admire people who own NFT's? What is this 2021? I think people mock others who own NFT's at this point because it makes no sense. I understand sidechains, not bitcoin getting forked or anything, but we have one chain that is segwit which gets a bulk load right now and we need to have a few layers on there to make sure that it works better, and that is understandable.

But aside from that, I do not think that it should be that complicated for bitcoin to go up, it is a good project and everyone trusts it and from people who have 10 dollars to people who have 10 billion dollars, they all want to be part of it so I think it shouldn't be hard for it to reach 10 million eventually.

[slaman29]

~snip~
Bitcoin, for better or for worse, will never be that status symbol. If you talk about it on a TV talkshow or on radio, people will generally view you as scammer or con artist or crazy. Plus, people who talk about Bitcoin usually don't even talk about the latest upgrade or tech or whatever.

I've been there and seen everything, and believe me, I don't want to get into such situations again - you try to explain to a person what Bitcoin is, and in the end he concludes that it's a money laundering scheme or that you want to give him some ref link through which he has to join. Of course there are ref links to CEX or various other Bitcoin related things, but that is a side issue and not the point of the whole thing.

Then we can understand each other. It wasn't like I was going out and telling people all about Bitcoin. It was just if there was ever a topic about money or something similar, or if Bitcoin came up, I definitely was a lot more open before and telling people what I found. But it then turns them to you, and they start attacking you as if you're asking for their money. Or like, you said, okay what's the catch, do I have to be your referral lol.

I even deleted social media after that because for some reason people even blamed me for "exposing them" when they went and joined some ponzi or ICO when I clearly never said such things.

Definitely, again, looking at this point. It's not more sidechains or tech needed for Bitcoin. People don't see the tech as special, or don't want to. They just need to understand the benefits of using it and unfortunately, some benefits can only be seen after experiencing loss on fiat systems.