Bitcoin (BTC) Targeting $10,000,000 Amid Rapid Global Crypto Adoption

[Husires]

Optimistic? He is high on drugs.

The small jumps that Bitcoin was able to do during the first 10 years made many expect that everything could be repeated easily.
And this was the way to get hundreds of followers, as the base was successful in the past, and therefore you tell people that there is a lot of free money that they will get, and thus it will increase their greed.

I was hoping that he would stop the exaggerated prices and remain silent until Bitcoin returns to a range close to 100,000, and then the model will have an error criterion of only 4 years.

[1714653744]

1714653744

[1714653744]

1714653744

[1714653744]

1714653744

[DrBeer]

~snip~
But the next question arises - will the world economy switch to Bitcoin? And realistically, the forecast in the title of the topic - corresponds to the answer to the question "will the world economy switch to Bitcoin"?

I don't see any way how this could happen, because the world is centralized and the whole civilization stands on the pillars of centralized mechanisms. The question arises whether it is even possible to replace these mechanisms in a "painless" way, or an even better question - why would those who built them for hundreds or even thousands of years agree to destroy the mechanisms that enable them to control people, all because of something over which won't have even close to that kind of control?

Even if the western economy decides to no longer use the US dollar, pound or euro, what about all those billions of people who live in countries where Bitcoin is banned or is in some gray area where its use is not something that governments encourage. Again, for those who want to live in fantasy, they can always be improved in a very simple way - just add another zero. Bitcoin will probably be worth $100 000 000 one day

This question torments me too Especially when I hear cries of "Bitcoin save everyone, there is no Hygimony of the dollar." People who are far from reality and the economic model cannot understand that bitcoin is essentially a huge bubble, at least for today.
And even if we assume that after some time it will be provided with something real (although no one can even imagine how this can happen), the world economy will NEVER use an unmanaged, "independent" financial instrument for market relations!
And with its current real "emptiness" in value, this is just a very convenient, and not for everyone, but only for a small audience, a SPECULATIVE tool.
But many people like the fairy tale that "Bitcoin will come to the masses and everyone will live like millionaires, and there will be no need to work." The idea in terms of the level of idiocy is close to the idea of building communism

[Unbunplease]

If bitcoin is worth too much, then imagine how long you will have to wait for your investment to at least double? Bitcoin has a certain value limit, after which it will lose its appeal. It might be $200,000, it might be $300,000. Or maybe even less.

[stompix]

Yes, it can.
It's like going back to the time when bitcoin was just worth a $1 or even cents and we're not expecting it to hit $69,000 after some time.
$100k is already great to me, $1M is greater and if it tends to be at $10M, that's the greatest.  

You know the difference between $69k and $10 million?
In order for Bitcoin to go to $69k we needed around 1 trillion, and that was when fewer coins were mined and the percentage of the ones lost was more significant, for 10 million we just need around 190 trillion.
For the first run we needed the GDP of Pennsylvania , now we need twice the GDP of the whole world, easy peasy!
It's the funny part of extrapolation!

For sure you have no idea what globalization means if you think it will fail but at the same time Bitocin will manage to unite all earthlings, which is the definition of globalization.

wall of text

You still haven't explained to me how you're going to unite all humanity under bitcoin if you see the collapse of globalization as inevitable.

But the next question arises - will the world economy switch to Bitcoin? And realistically, the forecast in the title of the topic - corresponds to the answer to the question "will the world economy switch to Bitcoin"?

On another topic, we have some die-hard fans people suggesting BTC is becoming usable and is under a terrorist attack by some guys printing monkey jpgs, so, legitimate questions might arise if we toss those two together and try to find an answer.

[be.open]

There are two reasons why a bitcoin might be worth a million (or ten million) dollars.
1. Widespread acceptance by the central banks of the world of bitcoin as a reserve world currency.
2. Hyperinflation of the dollar.

Both options are not mutually exclusive.

[killerfrost]

Amid rapid global crypto adoption, Bitcoin targets $10,000,000. This is a very difficult goal, but if Bitcoin continues to grow and become widely accepted, it is entirely possible.

However, to achieve this goal, Bitcoin will face many challenges. I also regularly research and follow a few people on their view of the market going forward, indeed some targets sound reasonable in the range of $100,000 - $500,000 in the next bull cycle.

[19Nov16]

Many people give fantastic price guesses in bitcoin, some dare to guess up to millions or even billions of dollars, of course the guesses are sometimes right, just like 10 years ago when the price rose from $ 200 to $ 1000 and then dropped again below $ 200 in 2014 many are guessing if the price would reach $10k, and it only took 3 years for that to happen.

[Argoo]

There are two reasons why a bitcoin might be worth a million (or ten million) dollars.
1. Widespread acceptance by the central banks of the world of bitcoin as a reserve world currency.
2. Hyperinflation of the dollar.

Both options are not mutually exclusive.

The widespread adoption by the central banks of the world of bitcoin as a world reserve currency, I completely rule out. The central banks of states operate on completely different economic principles, so the use of bitcoin as a world reserve currency will never happen.

Dollar hyperinflation could theoretically happen, but this would not necessarily lead to such an increase in the price of bitcoin. Most likely, the world will switch to using other fiat currencies, gold or other eternal values. Of course, at the same time, the price of the dollar should rise, but it is unlikely that even a million dollars for bitcoin can be discussed.