100 bitcoins. Will I be a millionaire by 2020?

[gentlemand]

You should work on not having to be a pool cleaner if you believe bitcoin is going to go to $10,000 per coin, saying that though can't knock a pool cleaner "working" outside, I will employ you also but try get some coin for yourself.

OP I doubt very much you will be a millionaire with just 100btc value 10k per coin, maybe be more realistic and 1000btc-2000btc, $500-$1000 would get you there if that is your goal or wanted.

So you'd have to spend a few hundred thousand dollars right now for the faint chance of it turning into a million in five years? There are safer bets out there to expand your money by 100% in that time frame.

There's no way I'd swallow that much risk in the hope of so little gain.

[gerXhonza]

You should work on not having to be a pool cleaner if you believe bitcoin is going to go to $10,000 per coin, saying that though can't knock a pool cleaner "working" outside, I will employ you also but try get some coin for yourself.

OP I doubt very much you will be a millionaire with just 100btc value 10k per coin, maybe be more realistic and 1000btc-2000btc, $500-$1000 would get you there if that is your goal or wanted.

So you'd have to spend a few hundred thousand dollars right now for the faint chance of it turning into a million in five years? Those odds aren't so great. There are safer options to expand your money.

Where is you faint chance coming from? I answered a question in a more realistic way to the dreamers.Even if it was a "faint chance" which it isn't, 10k a coin is a faint chance, $500-$1000 is well within reach "imo" so yes if I had a few hundred thousand laying about I would invest in a heartbeat. Not everyone wants the safer option.

[gentlemand]

Where is you faint chance coming from? Even if it was a "faint chance" which it isn't, 10k a coin is a faint chance, $500-$1000 is well within reach "imo" so yes if I had a few hundred thousand laying about I would invest in a heartbeat. Not everyone wants the safer option.

I guess we're all different but that's too much money with too much risk for me. The chances of decent rises are high but even the lead developers themselves still call it an experiment.

As we've seen over the last year or more this is a market at the mercy of a tiny number of people who'll gladly take your few hundred grand and not give you any gains unless it suits their plans. That may well change. It may well not. This is all still being made up as it goes along.

If $500,000 was a very small percentage of my net worth I'd go for it. I definitely wouldn't be betting the house on it.

[gerXhonza]

Where is you faint chance coming from? Even if it was a "faint chance" which it isn't, 10k a coin is a faint chance, $500-$1000 is well within reach "imo" so yes if I had a few hundred thousand laying about I would invest in a heartbeat. Not everyone wants the safer option.

I guess we're all different but that's too much money with too much risk for me. The chances of decent rises are high but even the lead developers themselves still call it an experiment.

As we've seen over the last year or more this is a market at the mercy of a tiny number of people who'll gladly take your few hundred grand and not give you any gains unless it suits their plans. That may well change. It may well not. This is all still being made up as it goes along.

If $500,000 was a very small percentage of my net worth I'd go for it. I definitely wouldn't be betting the house on it.

Yes that is the beauty of life isn't it, we are all different but we are all the same lol Don't get me wrong mate it is a stupid amount of money and I definitely don't have anywhere near that laying about to risk, I'm not fussed enough to become a millionaire as I am very happy with life as it is. I have to agree it is still an experiment even though we are years into it, but it is looking good.

That is annoying that a small amount of people have control over the market but they are if nothing else pretty obvious how they are doing it, they are sure at least once a month or every other to pump it up to mid to high 200's then back down to low to mid 200's like clockwork lol I have been making a few dollars from this but can only imagine how much could be made with 100k to play with.

But to answer again to buy 100btc and hold hoping to be a millionaire is a waste of time, let that 100btc work for you OP and who knows where it can go.

[jubalix]

I don't think people apprehend the amount of money sloshing around

frankly 1M does not buy so much anymore....barely a house in a decent capital city.

To me this say btc can go way higher than 10K each.

100K ~ 1M looks about right.

[ifightformerkel]

I think the bitcoin price will rise to 10'000 dollars when the block reward will be < 1 BTC, so as write here :



in that moment I think (& hope) we will see 8-10 k dollars per bitcoin.


Source: https://en.bitcoin.it/wiki/Controlled_supply#Projected_Bitcoins_Long_Term

It should be much higher by then, way higher. It should be the 1st digital payment method by then surpasing all credit card companies combined. Other scenario means failure.

When it will be the number 1 payment method, then the price will be over 250.000 Dollar for 1 Bitcoin.
Even when the Bitcoin will be so big like Mastercard the price should be around 50.000 Dollar, it is not long anymore. 

[Amph]

I don't think people apprehend the amount of money sloshing around

frankly 1M does not buy so much anymore....barely a house in a decent capital city.

To me this say btc can go way higher than 10K each.

100K ~ 1M looks about right.

well it depend what kind of house you want, if i can live with something that is 65 square meters, it will not coost me too much, worst case 100k if it is a good house

so 1M is more than enough, unless you want to spend those in useless bitches and yacht

like it was pointed out, bitcoin will prove itself by 2024, when the supply will count basically zero, and demand will be stronger as a result

[kenbytes]

Bitcoin will eventually become globally relevant when people gets slapped around by the conventional ways of storing money and the search for an alternative. It's a waiting game.

[futureofbitcoin]

I don't think people apprehend the amount of money sloshing around

frankly 1M does not buy so much anymore....barely a house in a decent capital city.

To me this say btc can go way higher than 10K each.

100K ~ 1M looks about right.

well it depend what kind of house you want, if i can live with something that is 65 square meters, it will not coost me too much, worst case 100k if it is a good house

so 1M is more than enough, unless you want to spend those in useless bitches and yacht

like it was pointed out, bitcoin will prove itself by 2024, when the supply will count basically zero, and demand will be stronger as a result

You keep having delusions about the mining supply. Why would demand be stronger just because there is less mining supply? In fact, it'll be a huge challenge at that time, because with such a low mining reward, how many miners will remain? Will they be able to keep the blockchain secure enough?

I would say that bitcoin HAS to succeed before then, in order for it to survive. If bitcoin isn't sufficiently valuable and/or there is not enough transaction volume to allow for a decent mining reward, bitcoin cannot survive, because the network will not be secure enough.

What will drive demand is some sort of a or a few killer apps using bitcoin technology, easier access to bitcoin (KYC turns off a lot of people) and a better understanding of bitcoin in the general population.

[Hyena]

You keep having delusions about the mining supply. Why would demand be stronger just because there is less mining supply? In fact, it'll be a huge challenge at that time, because with such a low mining reward, how many miners will remain? Will they be able to keep the blockchain secure enough?

I would say that bitcoin HAS to succeed before then, in order for it to survive. If bitcoin isn't sufficiently valuable and/or there is not enough transaction volume to allow for a decent mining reward, bitcoin cannot survive, because the network will not be secure enough.

What will drive demand is some sort of a or a few killer apps using bitcoin technology, easier access to bitcoin (KYC turns off a lot of people) and a better understanding of bitcoin in the general population.

the devs should start implementing Proof of Stake mining on bitcoin-core so that when network security drops due to miners quitting we can quickly switch to PoS mining and keep everyone's coins safe.

[gentlemand]

1 BTC = 1 million dollar?
1 bit = 1 dollar | 100 sat = 100 cents.

Virtually no one will talking about "1 bitcoin to buy/sell/invest/etc.." anymore, only bit/sat!


It would be nice but let's be realistic.  

If we are still trading and spending whole coins in a few years' time then that pretty much means that it's on its way to oblivion. As the block reward goes down, transaction fees will need to rise to compensate. That requires either an awful lot more transactions or fees that are so high that Bitcoin will be abandoned as an utter piss take.

[jehst]

I don't think people apprehend the amount of money sloshing around

frankly 1M does not buy so much anymore....barely a house in a decent capital city.

To me this say btc can go way higher than 10K each.

100K ~ 1M looks about right.

This is a really good point. By 2024, dollars are going to be worth shit. So we'll probably hit $10,000 but that's not going to seem like such a big number anymore. A private university in America costs $30,000 - $50,000 per year including room and board. A basic house in California costs $600,000. Food costs twice as much as it did in 1999. There's shittons of money floating around. Small apartments in Tokyo go for $800,000 each because there are millions of people who can pay that price. Because a million dollars isn't what it used to be. Bitcoin can be the same as those apartments. An expensive, scarce thing.

[Natalia_AnatolioPAMM]

Bitcoin will eventually become globally relevant when people gets slapped around by the conventional ways of storing money and the search for an alternative. It's a waiting game.

maybe you're right, we'll see it with all this Greece story

[techgeek]

I see it if there are more incidents like greece.

so if you see another possible country in a similar crisis then theres a huge influx of demand just wanting to move money around.

[techgeek]

YES.

Bitcoin went from 1$ to 1000$ in 5 years.
It will go from 1000$ to 1000000$ in the next 5 years because of the universal law of speculative extrapolation.

100 BTC by 2020 will make you filthy rich. The problem with those kinds of riches is that most people think they don't deserve such wealth so they will make every mistake possible to remain poor.

Well, this is something that i find very logical in this week.
You might end up rich but this is bitcoin, we have seen times that it hit 1k now it is relaxing a bit but a breakthrough is on its way.

Its pretty crazy how it beats fiat by so quick though.

On what the gold tried to do bitcoin did it in like 5 years is a amazing which tells you most of us should hold a piece of history.

[lissandra]

100 bitcoins then each 1 bitcoin value has to stand for atleast breaking 1,000 mark.

And we havent done that at all. So anything passed 1,000 seems a bit off and thats still in the same span of 5 years.

[hendra147]

YES.

Bitcoin went from 1$ to 1000$ in 5 years.
It will go from 1000$ to 1000000$ in the next 5 years because of the universal law of speculative extrapolation.

100 BTC by 2020 will make you filthy rich. The problem with those kinds of riches is that most people think they don't deserve such wealth so they will make every mistake possible to remain poor.

nice prediction
let's start sell your gold, crypto stock, forex stock and all of your money to buy bitcoin

[Greendragon]

YES.

Bitcoin went from 1$ to 1000$ in 5 years.
It will go from 1000$ to 1000000$ in the next 5 years because of the universal law of speculative extrapolation.

100 BTC by 2020 will make you filthy rich. The problem with those kinds of riches is that most people think they don't deserve such wealth so they will make every mistake possible to remain poor.

Ask falling..

[jehst]

YES.

Bitcoin went from 1$ to 1000$ in 5 years.
It will go from 1000$ to 1000000$ in the next 5 years because of the universal law of speculative extrapolation.

100 BTC by 2020 will make you filthy rich. The problem with those kinds of riches is that most people think they don't deserve such wealth so they will make every mistake possible to remain poor.

nice prediction
let's start sell your gold, crypto stock, forex stock and all of your money to buy bitcoin

The universal law of speculative extrapolation, LOL.

My idea that bitcoin can reach $1000 to $10,000 in 2021 is not based on the idea that bitcoin will do what it did in the past (i.e. have speculative bubbles). It's based on the combination of the daily mining reward halving a few times and the (proven) black market economy and remittance activity continuing their rapid growth.

Supply diminishes while demand goes up. Squeezed from both sides. It's a pincer movement.

If bitcoin can go sideways at 250 with 3600 coins produced per day, then it can go sideways at $1000 with 900 coins produced per day. And if bitcoin violently rejects sub 210 prices today, whereas it violently rejected sub $70 prices after April 2013, that indicates that bitcoin's non-speculative economy is rapidly growing. The number of listings and number of unique sellers on the dark net markets has massively increased. I keep an eye on these things.

So for me, $1000 is a conservative guess for 2021. It assumes that we just go sideways and everything else remains the same.
$10,000 is possible if everything goes "well" (bitcoin's non-speculative economy grows 10x over the next 6 years and the dollar loses strength).

The optimistic scenario makes your 100 BTC holder a millionaire. Of course, IF a bubble situation happens amidst the fundamental decrease in supply and the growth of non-speculative use, then the price can overshoot $1,000 significantly. But that's not what I'm counting on.

The stars-aligning scenario is where everything goes well for bitcoin (establishing a fair value of $10,000) AND the price overshoots. Then you could be looking at a short-term value of ... well, you can think about it.

[Biodom]

YES.

Bitcoin went from 1$ to 1000$ in 5 years.
It will go from 1000$ to 1000000$ in the next 5 years because of the universal law of speculative extrapolation.

100 BTC by 2020 will make you filthy rich. The problem with those kinds of riches is that most people think they don't deserve such wealth so they will make every mistake possible to remain poor.

nice prediction
let's start sell your gold, crypto stock, forex stock and all of your money to buy bitcoin

The universal law of speculative extrapolation, LOL.

My idea that bitcoin can reach $1000 to $10,000 in 2021 is not based on the idea that bitcoin will do what it did in the past (i.e. have speculative bubbles). It's based on the combination of the daily mining reward halving a few times and the (proven) black market economy and remittance activity continuing their rapid growth.

Supply diminishes while demand goes up. Squeezed from both sides. It's a pincer movement.

If bitcoin can go sideways at 250 with 3600 coins produced per day, then it can go sideways at $1000 with 900 coins produced per day. And if bitcoin violently rejects sub 210 prices today, whereas it violently rejected sub $70 prices after April 2013, that indicates that bitcoin's non-speculative economy is rapidly growing. The number of listings and number of unique sellers on the dark net markets has massively increased. I keep an eye on these things.

So for me, $1000 is a conservative guess for 2021. It assumes that we just go sideways and everything else remains the same.
$10,000 is possible if everything goes "well" (bitcoin's non-speculative economy grows 10x over the next 6 years and the dollar loses strength).

The optimistic scenario makes your 100 BTC holder a millionaire. Of course, IF a bubble situation happens amidst the fundamental decrease in supply and the growth of non-speculative use, then the price can overshoot $1,000 significantly. But that's not what I'm counting on.

The stars-aligning scenario is where everything goes well for bitcoin (establishing a fair value of $10,000) AND the price overshoots. Then you could be looking at a short-term value of ... well, you can think about it.

I don't think that buying from greeks contributed a major proportion of the current increase, anyway.
I don't like to extrapolate so much from a mere 20% pop, but current situation is quite interesting from many angles.
One-what does it mean in a current society to "have" money if such money durability and utility depends on some arcane negotiating tactics of a government that is not even in control of a currency, like in Greece.
Perhaps, we will have some kind of crystallization of this thought throughout at least a part of "opinion leaders" and we will see many more voices re bitcoin utility.
Things can go on from there.