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

[bobmarley650]

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

analyses never ends

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[okthen]

I really do believe it is possible. I don't think it is the most possible scenario though, not in the very near future.
I'd be already happy with a 10th of that

[DolanDuck]

I don't think bitcoin will ever reach 1 million dollars in the future, it can reach perhaps 100000$ but I don't see how it can go higher.

[redwhitenblue]

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

analyses never ends

Maybe if the US Dollar ha hyper inflation, otherwise not in any one who is alive today's lifetime.

If the price of BTC was $1,000,000 then the market cap of BTC would be greater then the US economy (as it is today).

I can give more comparisons including hypothetical calculations of growth of GDP, however this is simply unrealistic.

[Arghhh]

Here's to another thread in which people subjectively evaluate the mature value of bitcoin based on their limited mental capacity without doing the heavy mental lifting.

"I don't see how bitcoin can go any higher than X"

 

[okthen]

Here's to another thread in which people subjectively evaluate the mature value of bitcoin based on their limited mental capacity without doing the heavy mental lifting.

"I don't see how bitcoin can go any higher than X"

 

You know what, this threads are annoying.
But I kind of sympathize: most of use are quite "alone" as bitcoiners irl, and we all hope to see it get to great hights. So I guess it's normal to come to this forum and try to hear what you wish to hear

[devphp]

It's unlikely it will hit $10 000. Sure, under a hyperinflationary scenario, should/when it happens, when a loaf of bread will cost $300, bitcoin can hit a million, but who would care about dollars then.

[zimmah]

http://dollarvigilante.com/blog/2013/12/10/bitcoin%E2%80%99s-evolution-will-be-swift.html

it can easily reach a million and possibly even more.

[okthen]

http://dollarvigilante.com/blog/2013/12/10/bitcoin%E2%80%99s-evolution-will-be-swift.html

it can easily reach a million and possibly even more.

Ah, the uber-bullish articles after the November bubble
I wouldn't say "easily" to any scenario that puts btc at 1000000 though.

[Cranky4u]

Given it rose from $2 to $1k in 2 years, a rise of 500%, if a linear extrapolation was applied, ignoring circumstances, then $600 per BTC would rise to $300k in mid 2015. Only 2.5 rise after that to get to $1M.

As for scenarios to rise price that quick, there are a lot on this forum including;
1. adoption for multinational corps transferring wealth across borders
2. 1st world population adoption by the shopping public to avoid institutional fees (bank fees)
3. 3rd world population adoption as easier than establish 1st world style infrastructure
4. Govts, like Canada (see their crypto-experiment), go of paper fiat to fully digital currencies.

So as for the question of $1M being plausable, yes, but over what time frame, I would like to think within another 5 years.

[Benjig]

So if bitcoin reaches 1,000,000 million, there can be a max number of 21 million of bitcoin millionaires, i dont know how many millionaires are already outhere but its ok.
Being in the IT field and having worked for a credit card processor and many large merchants, I can tell you that the existing system is WAY overdue for a revolution.

[jeffersonairplane]

It'll never hit that in our lifetime. It would crash more than likely than doing that.

[BTFjmwn]

Very doubtful. Too many whale bots out there with sell orders. Right now would like to see something above $680.

[zimmah]

So if bitcoin reaches 1,000,000 million, there can be a max number of 21 million of bitcoin millionaires, i dont know how many millionaires are already outhere but its ok.
Being in the IT field and having worked for a credit card processor and many large merchants, I can tell you that the existing system is WAY overdue for a revolution.

about 14 million

and about 1500 billionaires.

[joeventyra]

So if bitcoin reaches 1,000,000 million, there can be a max number of 21 million of bitcoin millionaires, i dont know how many millionaires are already outhere but its ok.
Being in the IT field and having worked for a credit card processor and many large merchants, I can tell you that the existing system is WAY overdue for a revolution.

about 14 million

and about 1500 billionaires.

that would be pretty awesome. i present to you the new innovative billionaires

[CEG5952]

It's hard to say exactly when the pendulum will swing the other way. For now, I am in the mid-long term "up up up" camp. But I could easily see the tippity top being in the 5 or 6 figures, and not making it to a million.

[Harley997]

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

analyses never ends

Not before a period of huge economic growth or hyper-inflation.

Assuming 21 million bitcoin in circulation and a price of one million dollars for one bitcoin then the market cap of Bitcoin would be 21 thousand trillion dollars. As per google the current GDP of the world is ~98 trillion dollars today.

[ShakyhandsBTCer]

It'll never hit that in our lifetime. It would crash more than likely than doing that.

The only way it will reach anywhere near 1 million dollars is due to hyperinflation.

The price of btc will likely crash several times in our lifetime, as will the prices of most other investments.

[markjamrobin]

The only way that bitcoin could ever reach $1M, would be with hyperinflation of the U.S. dollar, loss of a significant amount of bitcoin, or if Bitcoin replaced national currencies, which seems unlikely. Even overtaking credit card processors, wouldn't put us there, really.

EDIT:
Post 1K...
Didn't even notice.

[_Miracle]

Yes. Perhaps in decades or centuries and hyperinflation doesn't need to occur for it to happen.
Or it goes to zero.
I believe both things are possible and other things in the middle are probable.