CryptoCurrencyInc.com (OP)
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May 14, 2014, 04:11:59 PM Last edit: May 14, 2014, 10:01:43 PM by CryptoCurrencyInc.com |
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tprogex
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May 14, 2014, 05:18:13 PM |
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in 99% of situation not possible. All cryptos market cap and bypass all fiat market cap but 1 bitcoin cant be worth on that sum.
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odolvlobo
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May 14, 2014, 06:00:14 PM |
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$1 billion is unreasonable. The USD monetary base is about $4 trillion ($800 billion before Bernanke went on his drunken money printing spree). So, if BTC completely replaced USD, 1 bitcoin would be worth $4 trillion divided by 21 million, or $190,000 and that is no where near $1 billion.
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acs267
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May 14, 2014, 06:02:07 PM |
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$1 billion is unreasonable. The USD monetary base is about $4 trillion ($800 billion before Bernanke went on his drunken money printing spree). So, if BTC completely replaced USD, 1 bitcoin would be worth $4 trillion divided by 21 million, or $190,000 and that is no where near $1 billion.
I have to agree. Even if one Bitcoin was one billion, some currency bans and heavy taxing would occur.
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swapcoiner
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May 14, 2014, 06:07:32 PM |
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Bitcoin price fully depends on speculation and panic buy/sell basis. It is far away from Investopedia's suggested price. And It will take considerably a long time to achieve higher price when we relate with current regulations to bitcoins by various countries. People are always looking for others suggestions and fail to make their own decisions on bitcoins and altcoins. Several startups start to function with bitcoin but failed due to lack of clear understanding of crypto currencies. We have seen a list of companies that was shutdown in the past with no proper cryptography implementation. Finally, I again suggest it will not be possible to reach $1 Billion USD.
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brokedummy
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May 14, 2014, 06:17:34 PM |
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Yes it's possible. If the Federal Reserve prints more and more dollars and a billion dollars is only worth a house or two.
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Pente
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May 14, 2014, 06:32:34 PM |
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He is thinking that a billion = 10^6, not 10^9. Remember, in some countries, million & billion are switched around in their meanings.
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protokol
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May 14, 2014, 06:46:00 PM |
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He is thinking that a billion = 10^6, not 10^9. Remember, in some countries, million & billion are switched around in their meanings.
I don't think any countries "switch" million and billion, I know some countries call 10^12 a "billion" (ie a million million). Could be a typo though, I've heard this pricing argument with 1 BTC=$1m quite a few times, I don't think it will happen though, any price over $100,000 is pretty damn unlikely for the next 10 years IMO.
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SnakeEater
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May 14, 2014, 06:51:40 PM |
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$1 billion is unreasonable. The USD monetary base is about $4 trillion ($800 billion before Bernanke went on his drunken money printing spree). So, if BTC completely replaced USD, 1 bitcoin would be worth $4 trillion divided by 21 million, or $190,000 and that is no where near $1 billion.
Why use monetary base when FIAT numbers are infinite? BTC will lose all values when CB successfully gain control technically by destroying its trust by high volatility and stagnant liquidity. Even BTC can now run by state controlled ASICS. The BTC 2.0 must solve all the above 3 problems. ASICS proof is a must.
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Malin Keshar
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May 14, 2014, 07:22:35 PM |
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21 million BTC VS 1 billion each = 21000 trillions market cap.
I think this is more than the world's GDP. Impossible to happen, unless USA gets some decades of post-WWI germany inflation.
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franky1
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May 14, 2014, 07:42:25 PM Last edit: May 14, 2014, 07:57:30 PM by franky1 |
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firstly the OP needs to read the article. it talks about $1million not $1billion, but anyways.. the topic is now set as billions, so let me continue:
I recently researched that the average life savings of people is $44k That is round figure of other countries converted to dollars. and averages of the rich and poor. all gathered from multiple statistics websites.
so now $44k x 7billion = 308,000,000,000,000
now 21 million bitcoins ever to exist
308Tril / 21mill = $14,666,666.66
so there we have it. if every single person in the whole world dropped their native currency and wanted bitcoin. then the max value of bitcoin is estimated at around $14.66mill
but w al know not everyone will want bitcoin for local, national, social, political reasons. so i think that maybe 1-5% (about the size of a country (currently we are at about 0.017%)).
and even with 1-5% wanting bitcoin they would probably not have every penny as bitcoin, they would diversify by having maybe 10% as ready to use local currency, and an even split between bitcoin gold and silver (atmost 30% bitcoin holdings on average)
yes there may be bitcoin fans that hold all 90% as bitcoin and 10% local currency(as time goes on less likely due to world demand) yes there may be alot more holding 50-90% local currency with only 10% bitcoin.(as time goes on more likely due to world demand)
so now some context is given.
let say 3% population having 30% bitcoin holding
=210million people with $14k life savings in bitcoin = 2,940,000,000,000 (2.94Tril) =2.94Tril / 21mill coins = $140,000 per bitcoin
and that is what i predict as the 'mass adopted year 2140 bitcoin price' $140,000
though i do prefer predictions like every 'of age'/adult (5billion) having atleast one months minimum wage salary ($1200) in bitcoin =$6,000,000,000,000 bitcoin market cap =$285,714.29 per bitcoin
all of this goes to show that even in context with semi/rough statistics to go by i dont think bitcoin will pass $1billion per coin. and at a stretch there is a SMALL chance it will pass $1million per coin
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I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER. Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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Tripjammer
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May 14, 2014, 07:54:17 PM |
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$1 billion is unreasonable. The USD monetary base is about $4 trillion ($800 billion before Bernanke went on his drunken money printing spree). So, if BTC completely replaced USD, 1 bitcoin would be worth $4 trillion divided by 21 million, or $190,000 and that is no where near $1 billion.
Why use monetary base when FIAT numbers are infinite? BTC will lose all values when CB successfully gain control technically by destroying its trust by high volatility and stagnant liquidity. Even BTC can now run by state controlled ASICS. The BTC 2.0 must solve all the above 3 problems. ASICS proof is a must. Nothing is asics proof. They will crack x11 and scrypt n with asics this year. It's all about getting more hash rate while using less power. GPU's dead or dying unless they can come up with a GPU that uses less than 50 watts of power with a 1mh/s hash rate....lol! Not going to happen anytime soon.
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odolvlobo
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May 14, 2014, 08:08:56 PM |
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BTW, somebody at Investopedia fixed the article. It used to say "$1 billion" and now it says "$1 million".
Regardless, 1 bitcoin will never be worth $1 million of today's USD. As I wrote above, it will be worth only around $190,000 if it replaces USD completely.
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madmadmax
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May 14, 2014, 08:15:47 PM |
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It's not just possible, it's inevitable, of course by then the whole dollar would get into hyper inflation and crash, nobody will accept it for any physical good. A bottle of coke will cost you half a billion.
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Dimelord
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May 14, 2014, 08:18:11 PM |
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$1 billion is unreasonable. The USD monetary base is about $4 trillion ($800 billion before Bernanke went on his drunken money printing spree). So, if BTC completely replaced USD, 1 bitcoin would be worth $4 trillion divided by 21 million, or $190,000 and that is no where near $1 billion.
Why use monetary base when FIAT numbers are infinite? BTC will lose all values when CB successfully gain control technically by destroying its trust by high volatility and stagnant liquidity. Even BTC can now run by state controlled ASICS. The BTC 2.0 must solve all the above 3 problems. ASICS proof is a must. Dimecoin = ASIC proof ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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LavaWave
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May 14, 2014, 08:25:08 PM |
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BTW, somebody at Investopedia fixed the article. It used to say "$1 billion" and now it says "$1 million".
Regardless, 1 bitcoin will never be worth $1 million of today's USD. As I wrote above, it will be worth only around $190,000 if it replaces USD completely.
At $190,000 I would be one extremely happy person. Maybe even a little rich! ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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madmadmax
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May 14, 2014, 08:47:14 PM |
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BTW, somebody at Investopedia fixed the article. It used to say "$1 billion" and now it says "$1 million".
Regardless, 1 bitcoin will never be worth $1 million of today's USD. As I wrote above, it will be worth only around $190,000 if it replaces USD completely.
At $190,000 I would be one extremely happy person. Maybe even a little rich! ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) The whole point is that at the time the dollar would be so worthless that 190,000$ would be about enough to buy yourself a juicebox and go nap nap with your blankie.
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| | █ ║ █ | ✔ Unchained Smart Contracts ✔ Decentralized Oracle ✔ Infinitly Scalable
| ✔ Blockchain Technology ✔ Turing-Complete ✔ State-Channels
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franky1
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May 14, 2014, 08:58:08 PM |
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BTW, somebody at Investopedia fixed the article. It used to say "$1 billion" and now it says "$1 million".
Regardless, 1 bitcoin will never be worth $1 million of today's USD. As I wrote above, it will be worth only around $190,000 if it replaces USD completely.
ok ignoring the whole world stats and just concentrating on USA average life savings =$55k (worldwide $44k) 217mill ADULTS (over 18 that have oppertunity to work or at age to have a bank account) =13,035,000,000,000 about $13trill in supposed dollars for all adults to share 13trill / 21mill coins = $620,000 so if every american dropped the dollar and invested all of their life savings into only bitcoin (no gold, no other precious assets) then a bitcoin would be worth $620,000 but like i said in my previous post. not everyone will.. so lets say people only invest under 30% of life savings into bitcoin then yep you come close to the $190k. so with 3 theories the range for worldwide acceptance to store just a months salary, to the US solely-hoarding and converting 30% of life savings to bitcoin. the estimate is about $100k-$300k maximum
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I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER. Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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LavaWave
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May 14, 2014, 09:19:16 PM |
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BTW, somebody at Investopedia fixed the article. It used to say "$1 billion" and now it says "$1 million".
Regardless, 1 bitcoin will never be worth $1 million of today's USD. As I wrote above, it will be worth only around $190,000 if it replaces USD completely.
At $190,000 I would be one extremely happy person. Maybe even a little rich! ![Wink](https://bitcointalk.org/Smileys/default/wink.gif) The whole point is that at the time the dollar would be so worthless that 190,000$ would be about enough to buy yourself a juicebox and go nap nap with your blankie. Very good point! I had my rose colored bitcoin glasses on and wasn't really looking at the whole picture! ![Cool](https://bitcointalk.org/Smileys/default/cool.gif)
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gsr18
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May 14, 2014, 09:39:15 PM |
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1 Billion is not possible, but who knows. $10,000 or $100,000 is more reasonable.
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