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Author Topic: Do you really believe that Bitcoin will hit 1,000,000  (Read 16995 times)
ShakyhandsBTCer
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August 10, 2014, 03:15:47 PM
 #141

Lets assume that BTC doesn't gain in "value". Only rises because of inflation.

Today 580

Year XXXX = 1,000,000

Inflation = 4%

580*1,04^x = 1,000,000
1,04^x=1724
x= ~190 years

So in 190 years we will see a price of 1,000,000 USD even if BTC doesn't gain in purchasing power Wink

So BTC will hit $1,000,000 USD but none of us will be alive to see it happen.  Grin

I wouldn't be so sure about that. Medicine is so innovative and innovations coming in big heaps! Who knows, maybe in 30 years with stemcells you will be able to heal nearly every injury and every aspect of getting older. Scientists are predicting that the first human to reach 200 years old, is already born. Spooky!
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August 10, 2014, 03:53:11 PM
 #142

Lets assume that BTC doesn't gain in "value". Only rises because of inflation.

Today 580

Year XXXX = 1,000,000

Inflation = 4%

580*1,04^x = 1,000,000
1,04^x=1724
x= ~190 years

So in 190 years we will see a price of 1,000,000 USD even if BTC doesn't gain in purchasing power Wink

So BTC will hit $1,000,000 USD but none of us will be alive to see it happen.  Grin

I wouldn't be so sure about that. Medicine is so innovative and innovations coming in big heaps! Who knows, maybe in 30 years with stemcells you will be able to heal nearly every injury and every aspect of getting older. Scientists are predicting that the first human to reach 200 years old, is already born. Spooky!

No point in living so long if you are plagued with old age problems.
Just increasing longevity is of no use, if you are suffering from alzheimers. I hope all diseases are cured in the future too.  Smiley
ShakyhandsBTCer
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August 10, 2014, 04:00:29 PM
 #143

Lets assume that BTC doesn't gain in "value". Only rises because of inflation.

Today 580

Year XXXX = 1,000,000

Inflation = 4%

580*1,04^x = 1,000,000
1,04^x=1724
x= ~190 years

So in 190 years we will see a price of 1,000,000 USD even if BTC doesn't gain in purchasing power Wink

So BTC will hit $1,000,000 USD but none of us will be alive to see it happen.  Grin

I wouldn't be so sure about that. Medicine is so innovative and innovations coming in big heaps! Who knows, maybe in 30 years with stemcells you will be able to heal nearly every injury and every aspect of getting older. Scientists are predicting that the first human to reach 200 years old, is already born. Spooky!

No point in living so long if you are plagued with old age problems.
Just increasing longevity is of no use, if you are suffering from alzheimers. I hope all diseases are cured in the future too.  Smiley

As I wrote, the stemcell therapy will most likely be able to cure all old age problems!
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August 10, 2014, 07:32:44 PM
 #144

Lets assume that BTC doesn't gain in "value". Only rises because of inflation.

Today 580

Year XXXX = 1,000,000

Inflation = 4%

580*1,04^x = 1,000,000
1,04^x=1724
x= ~190 years

So in 190 years we will see a price of 1,000,000 USD even if BTC doesn't gain in purchasing power Wink

So BTC will hit $1,000,000 USD but none of us will be alive to see it happen.  Grin

I wouldn't be so sure about that. Medicine is so innovative and innovations coming in big heaps! Who knows, maybe in 30 years with stemcells you will be able to heal nearly every injury and every aspect of getting older. Scientists are predicting that the first human to reach 200 years old, is already born. Spooky!
If history is any guide this is not the case. Medicine has been able to increase the average lifespan of the population by not by this large of a percentage. Additionally as people get older they start to develop more advanced problems that cannot be fixed with medicine/medical technology.
ShakyhandsBTCer
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August 11, 2014, 01:56:40 AM
 #145

Lets assume that BTC doesn't gain in "value". Only rises because of inflation.

Today 580

Year XXXX = 1,000,000

Inflation = 4%

580*1,04^x = 1,000,000
1,04^x=1724
x= ~190 years

So in 190 years we will see a price of 1,000,000 USD even if BTC doesn't gain in purchasing power Wink

So BTC will hit $1,000,000 USD but none of us will be alive to see it happen.  Grin

I wouldn't be so sure about that. Medicine is so innovative and innovations coming in big heaps! Who knows, maybe in 30 years with stemcells you will be able to heal nearly every injury and every aspect of getting older. Scientists are predicting that the first human to reach 200 years old, is already born. Spooky!
If history is any guide this is not the case. Medicine has been able to increase the average lifespan of the population by not by this large of a percentage. Additionally as people get older they start to develop more advanced problems that cannot be fixed with medicine/medical technology.

The thing is, medicine innovation is increasing exponentially. So if you make a logarithmic growth and take history as an indicator, you will still come out with the numbers I proposed.

Not saying this will hold true, but I very well might.
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August 11, 2014, 09:48:56 AM
 #146


ok...but when? this is important Cheesy


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asdlolciterquit
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August 11, 2014, 12:17:59 PM
 #147

My believe is that bitcoin will hit more than 1,000,000

again, same question: in five years? or in 50 years?


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alwinlinzee
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August 11, 2014, 01:07:58 PM
 #148

Its possible at the state of hyper inflation alone.

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August 11, 2014, 01:37:25 PM
 #149

I'm gonna go with 50,000 in 5 years, a million in 15 years.
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August 11, 2014, 01:37:56 PM
 #150

My believe is that bitcoin will hit more than 1,000,000

again, same question: in five years? or in 50 years?

You'll just have to wait and see. I always think it's silly speculating on prices, especially putting a date on things. Keep spreading the word of bitcoin and the price will surely rise over time, though I dont think it'll ever get to 1 million without massive worldwide adoption which will obviously take a while.
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August 12, 2014, 12:50:23 AM
 #151

My believe is that bitcoin will hit more than 1,000,000

again, same question: in five years? or in 50 years?

You'll just have to wait and see. I always think it's silly speculating on prices, especially putting a date on things. Keep spreading the word of bitcoin and the price will surely rise over time, though I dont think it'll ever get to 1 million without massive worldwide adoption which will obviously take a while.

There are huge markets in Asia/Africa which can be tapped. That is what everybody is banking on.
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August 12, 2014, 01:34:51 AM
 #152

My believe is that bitcoin will hit more than 1,000,000

again, same question: in five years? or in 50 years?

You'll just have to wait and see. I always think it's silly speculating on prices, especially putting a date on things. Keep spreading the word of bitcoin and the price will surely rise over time, though I dont think it'll ever get to 1 million without massive worldwide adoption which will obviously take a while.

There are huge markets in Asia/Africa which can be tapped. That is what everybody is banking on.

Problem is foreign currency conversion fee in third world is so high that the benefit of bitcoin can not outweigh the cost.
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August 12, 2014, 05:37:43 AM
 #153

Do you really believe that Bitcoin will hit 1,000,000

analyses never ends

No, because no analyses exist!

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August 12, 2014, 01:56:09 PM
 #154

i think not
100,000$ is already a really high and difficult cipher to reach
not thinking about 1 million $
I will focus on the "near" future and the 10k $ cipher
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August 12, 2014, 02:37:44 PM
 #155

Do you really believe that Bitcoin will hit 1,000,000

analyses never ends

It is more a question of possibility.

Which on is more likely: Me playing lottery every week for the next 20 years and winning the jackpot or bitcoin reaching/touching 1 Million.

Both are unlikely, but the second one seems more likely than the first in my opinion.

BTC reaching 100K within 20 Years... i would not want to bet against  Smiley
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August 12, 2014, 02:44:02 PM
 #156


Do you really believe that Bitcoin will hit 1,000,000

analyses never ends

Hi,

I do believe BTC can reach those dizzying heights as long as we drive adoption. For example, here in India, people are totally oblivious to BTC, i always need to take some time off from my busy schedules to explain how it works. Some get the logic, some don't!

Unless we have an interface between the people who will be using BTC (Read: Common users) and the techno-whiz kids, it will take forever to reach those levels!

Think of this like microprocessors and users, most common users will struggle to use microprocessors, but they are a cinch for techno-whiz kids. Unless you have an interface (Read: Microsoft OS) which is easy to work with, we will not be able to drive adoption. My 2 satoshi!  Grin

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August 12, 2014, 03:11:37 PM
 #157

Answering to the OP, I think that the value of bitcoin will reach several thousands of dollars but not millions.
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August 12, 2014, 03:26:16 PM
 #158

We are talking about the price of Bitcoin, but let's not forget there are other cryptocurrencies out there, still making their way through. Wink
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August 12, 2014, 03:45:52 PM
 #159

We are talking about the price of Bitcoin, but let's not forget there are other cryptocurrencies out there, still making their way through. Wink

I am willing to wager that none of them will surpass bitcoin in market capitalization for the next 10 years.  Wink
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August 12, 2014, 03:52:45 PM
 #160

We are talking about the price of Bitcoin, but let's not forget there are other cryptocurrencies out there, still making their way through. Wink

I am willing to wager that none of them will surpass bitcoin in market capitalization for the next 10 years.  Wink

Yes no one of the altcoins will take bitcoin's place, at least in the near future.
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