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Author Topic: Do you really believe that Bitcoin will hit 1,000,000  (Read 16911 times)
Wexlike
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August 12, 2014, 04:20:41 PM
 #161

I think the maximum might be 50k $. But the future is full of surprises. One extreme brutal hyperinflation can destroy your FIAT wealth in a very short timeframe.

Just imagine: What would happen if only 2 million people would buy "only" one bitcoin ? 2 million people is nothing in a global scale. If we would adapt to 10 million users, the price would be already very high ! The problem is, that compared to us in the west, most of the world is poor.

I think the first big scale bitcoin adoption will happen in one of the poorer countries, that are plagued with a high inflation of their government paper money.
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August 12, 2014, 04:40:24 PM
 #162

I think the maximum might be 50k $.

Maximum? The Winklevoss twins' conservative estimate is that much...  Grin
http://www.coindesk.com/cameron-winklevoss-bitcoin-price-40k/
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August 12, 2014, 05:54:41 PM
 #163

not more than 30k i think, 30k will also take a while it is all about regulation
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August 12, 2014, 09:02:25 PM
 #164

I don't think the price of 1BTC will ever worth as much as gold price per oz. 
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August 12, 2014, 09:25:13 PM
 #165

BTC at a mill per coin would be the approximate price if it completely replaced the dollar right?   Don't think it is ever going to happen.

I am bullish long term, but I think the highest we will ever go is around 10k (this is a guess obv)
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August 13, 2014, 01:00:01 AM
 #166

BTC at a mill per coin would be the approximate price if it completely replaced the dollar right?   Don't think it is ever going to happen.

I am bullish long term, but I think the highest we will ever go is around 10k (this is a guess obv)

Why just the dollar? It could replace all fiat currencies.
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August 13, 2014, 02:21:20 AM
 #167

No. I don't.
Hash Master
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August 13, 2014, 10:38:05 AM
 #168

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.

Everything can happen, you can never know. It's a damn slippery planet. Smiley
micky123
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August 13, 2014, 12:18:06 PM
 #169

How ironic,

here we are discussing if BTC will hit a million dollars and BTC is crashing as we speak!

There are no real major indicators as to why it is crashing though, but might just be a good time to buy. damn, why does it crash when i am broke! Huh Cry
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August 13, 2014, 02:42:59 PM
 #170

How ironic,

here we are discussing if BTC will hit a million dollars and BTC is crashing as we speak!

There are no real major indicators as to why it is crashing though, but might just be a good time to buy. damn, why does it crash when i am broke! Huh Cry

It's not a crash but only a downswing which will be followed by a rebound, probably in few weeks we will see again the July values.

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August 13, 2014, 03:13:29 PM
 #171

How ironic,

here we are discussing if BTC will hit a million dollars and BTC is crashing as we speak!

There are no real major indicators as to why it is crashing though, but might just be a good time to buy. Damn, why does it crash when i am broke! Huh Cry

It's not a crash but only a downswing which will be followed by a rebound, probably in few weeks we will see again the July values.

Yup, looks to have recovered slightly. I think it was just a bunch of whales playing with BTC Smiley. That said, the price of BTC is too volatile and certainly not for the faint of heart. If we have to drive mainstream adoption, we cant let BTC be this volatile. If volatility is not taken care of, adoption by the masses would become impossible. This also leads me to believe that banks and financial institutions, which stand to lose the most from BTC adoption could be the reason for such volatility! Conspiracy theory? Just might be true!
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August 13, 2014, 03:16:38 PM
 #172

How ironic,

here we are discussing if BTC will hit a million dollars and BTC is crashing as we speak!

There are no real major indicators as to why it is crashing though, but might just be a good time to buy. damn, why does it crash when i am broke! Huh Cry

It's not a crash but only a downswing which will be followed by a rebound, probably in few weeks we will see again the July January values.

Fixed for you  Undecided
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August 13, 2014, 03:24:33 PM
 #173

Yup, looks to have recovered slightly. I think it was just a bunch of whales playing with BTC Smiley. That said, the price of BTC is too volatile and certainly not for the faint of heart. If we have to drive mainstream adoption, we cant let BTC be this volatile. If volatility is not taken care of, adoption by the masses would become impossible. This also leads me to believe that banks and financial institutions, which stand to lose the most from BTC adoption could be the reason for such volatility! Conspiracy theory? Just might be true!

Volatility is a problem self correcting as the size of Bitcoin market increase and single entities become smaller compared to the whole system.
It is also correcting as the need to convert bitcoins in fiat reduce as more entities accept and use bitcoins to pay and be paid and stay inside the Bitcoin ecosystem.
This would reduce the supply of coin available on exchanges.

I just checked out Purse.io, and I see only Bitcoin's asks for >10% than the Bitstamp price.
This is, all the offer under Bistamp+10%< are gone or filled immediately.
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August 13, 2014, 03:51:13 PM
 #174

i do not believe that Bitcoin will hit 1,000,000
it's too much i think
probably it's about $6k max
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August 13, 2014, 04:26:13 PM
 #175

If only 1% of the off-shore accounts money moving into Bitcoin, it will bring the price much higher then $1.000.000 alone.

Bitcoin can be used in so many markets, think big.
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August 13, 2014, 06:11:02 PM
 #176

I don't think the price of 1BTC will ever worth as much as gold price per oz. 

Ok - Do you think gold will ever be worth $1MM/oz.  Grin
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August 13, 2014, 08:08:23 PM
 #177

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

analyses never ends

I don't think it will. I don't see Bitcoin as a complete replacement for the traditional monetary system but as an alternative that will work alongside it. It could happen, but I don't see it as a significant possibility IMHO.



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Swordsoffreedom
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August 14, 2014, 09:37:02 AM
 #178

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

analyses never ends

I don't think it will. I don't see Bitcoin as a complete replacement for the traditional monetary system but as an alternative that will work alongside it. It could happen, but I don't see it as a significant possibility IMHO.

Well not a million in USD unless it collapsed but perhaps in a weaker fiat currency
Anyways I think it will work in tandem myself with the fiat system but the future of cryptocurrencies is one with many contenders so there will be more than one solution and the will keep the price lower than a million.
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August 14, 2014, 08:56:02 PM
 #179

within the next 3 months i guess its possible.

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August 15, 2014, 01:24:20 AM
 #180

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

analyses never ends

I don't think it will. I don't see Bitcoin as a complete replacement for the traditional monetary system but as an alternative that will work alongside it. It could happen, but I don't see it as a significant possibility IMHO.
I think it is much more likely that bitcoin becomes something that is used along side of most fiat based currencies then a replacement to fiat based currencies. Fiat has a very large advantage over bitcoin as almost all government transactions (including tax payments and refunds) are done in local fiat.

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