Why I believe bitcoin will never reach 1 million per coin

[finnile]

You don't need to believe. it just wont

[gentlemand]

There's a large chasm between dreaming of $1 mil and believing it. I'm not so sure there are that many folks in the latter category. I ain't. $10-100,000 is borderline feasible if all the stars aligned. Beyond that would be totally uncharted territory.

There are a few people in history with wealth in the hundreds of billions, but they were active in making and exploiting things.

The way the world is going perhaps the new paradigm will switch to the owners of strings of 1s and 0s. Then again...

[ajareselde]

There's a large chasm between dreaming of $1 mil and believing it. I'm not so sure there are that many folks in the latter category. I ain't. $10-100,000 is borderline feasible if all the stars aligned. Beyond that would be totally uncharted territory.

There are a few people in history with wealth in the hundreds of billions, but they were active in making and exploiting things.

The way the world is going perhaps the new paradigm will switch to the owners of strings of 1s and 0s. Then again...

One day its clearly viable, but overpump while the bitcoin mining rewards is >1 btc is futile, rise in the value will come gradualy, like its supposed to.
Somewhere around 1-3k / bitcoin most (if not all ) bitcoin investors from last rise will dump their coins, and then we will have another slowly degrading year or two.
Scenario will repeat it self over and over again, but with higher ath's and higher lows, and 10+years from now, we just may see 100k per btc scenarios.

[croato]

Well, i think Bitcoin could be worth like million today dollars just that could take 20 years. Till then he could reach $1000, $10000 and even $100000 more than one time, as bigger will be market cap he will be less volatile. Lot of big holders will sell all way and spread they share.

[tss]

$1m per coin is a little out there.  i think btc market cap can one day (50+ years from now) reach $1 trillion making each btc around $50k. 

[Q7]

Growth of bitcoin is poised for success but however, If for any reason bitcoin fails one day, it's all because of the hack that causes people to lose trust. After the recent hack taking place one after another I'm also beginning to get frustrated.

[Furio]

Growth of bitcoin is poised for success but however, If for any reason bitcoin fails one day, it's all because of the hack that causes people to lose trust. After the recent hack taking place one after another I'm also beginning to get frustrated.

I allways have to laugh on the inside with these stories. Fiat and various money systems scam people EVERY day on a much more massive scale, and with much more revenue and victims, even with the law on their side!! Like it or not, when you get scammed with bitcoin, you're allways partially reponsible yourself, bad computer security, enrolment in ponzi's and overall greed before wisdom, bitcoin is safer then any system in the world.

[Amph]

i could argue, why bitcoin will not reach zero, but 10k is more of a good target, at 10k coin, it mean that 7B people will have 1k value out of it

[Borisz]

winklevoss own 100,000..

Bitcoin jesus Roger ver owns 400,000

Which means these guys will have wealth like 100 billion and 400 billion

this is not at all practical..seems extremely unlikely

But how can somebody become that rich?

It is unlikely (for the near future at least), but how comes that from what you have said above?

If I have a gold bar its price will never double because it is not fair towards people who don't have gold bars?

Those who could afford time and money to analyse the potential of Bitcoin when it was worth 1-3$, and invested, have coins stacked now. Just because a few people own large amount of coins, doesn't mean that the price cannot go up.

[waterpile]

i could argue, why bitcoin will not reach zero, but 10k is more of a good target, at 10k coin, it mean that 7B people will have 1k value out of it

even reaching $10k for me is way too optimistic. $500 seems reasonable for bitcoin.

[billyjoeallen]

OP is assuming that none of these large holders will sell significant amounts on the way up. How likely is that? I plan to sell all or nearly all next bubble so among other things I will have money to buy it back on the way down.

[1Referee]

No one should think Bitcoin will ever reach anything above $100K. These valuations are beyond insane.

Let's get the price first to $1000 again, and keep it there. Shall we?

[lebing]

http://www.reddit.com/r/Buttcoin/comments/2vfl24/roger_ver_has_the_ability_to_send_bitcoin_into/

Oh look its a post on buttcoin. I trust that source completely. 

[Borisz]

I think that with broader spread and acceptance of Bitcoin it's price will stabilize at a near constant level. As for the huge price swings of hundreds of dollars a day, I think that will be just the past.

I'm not saying that as of right now we won't be able to see swings, but in the future as more merchants accept it and more people use, there should be some sort of price stabilization. Otherwise it won't be used by more than these days. A global currency needs some sort of stability.

[Chef Ramsay]

I think that with broader spread and acceptance of Bitcoin it's price will stabilize at a near constant level. As for the huge price swings of hundreds of dollars a day, I think that will be just the past.

I'm not saying that as of right now we won't be able to see swings, but in the future as more merchants accept it and more people use, there should be some sort of price stabilization. Otherwise it won't be used by more than these days. A global currency needs some sort of stability.

If Bitcoin does in fact become a currency that is widely used I would imagine it would only stabilize in the event of once it reached its full potential of users and no more. As more and more demand manifests itself over time, the price is going to keep going on its deflationary nature until the demand reaches a plateau of users and ceases to go any further.

[Furio]

I think that with broader spread and acceptance of Bitcoin it's price will stabilize at a near constant level. As for the huge price swings of hundreds of dollars a day, I think that will be just the past.

I'm not saying that as of right now we won't be able to see swings, but in the future as more merchants accept it and more people use, there should be some sort of price stabilization. Otherwise it won't be used by more than these days. A global currency needs some sort of stability.

If Bitcoin does in fact become a currency that is widely used I would imagine it would only stabilize in the event of once it reached its full potential of users and no more. As more and more demand manifests itself over time, the price is going to keep going on its deflationary nature until the demand reaches a plateau of users and ceases to go any further.

The problem with bitcoin is that wealthy individuals can manipulate the price solely on their own, and I don't see another solution then massadoption for that

[Bananana]

I think that with broader spread and acceptance of Bitcoin it's price will stabilize at a near constant level. As for the huge price swings of hundreds of dollars a day, I think that will be just the past.

I'm not saying that as of right now we won't be able to see swings, but in the future as more merchants accept it and more people use, there should be some sort of price stabilization. Otherwise it won't be used by more than these days. A global currency needs some sort of stability.

If Bitcoin does in fact become a currency that is widely used I would imagine it would only stabilize in the event of once it reached its full potential of users and no more. As more and more demand manifests itself over time, the price is going to keep going on its deflationary nature until the demand reaches a plateau of users and ceases to go any further.

The problem with bitcoin is that wealthy individuals can manipulate the price solely on their own, and I don't see another solution then massadoption for that

That is the same for stock, forex and any other investment. There is always whales everywhere.

[okthen]

If bitcoin becomes the norm, it's only normal that some people will get filthy rich beyond imagination just for luck of having invested big at the right moment.
Imagine finding a gold mine in your garden during the gold rush.

[Borisz]

If bitcoin becomes the norm, it's only normal that some people will get filthy rich beyond imagination just for luck of having invested big at the right moment.
Imagine finding a gold mine in your garden during the gold rush.

It also depends on luck yes, but these days analyst also have a lot to do with these things. People pay a lot of money for analysts to tell them whether to invest or not to. Sometimes it pays back.

And especially with Bitcoin, you had to have a vision back in the day when it was cheap. If you saw the potential and you had capital, you could make money. Unfortunately if you saw the potential, but didn't have capital to invest you lost your chance of becoming rich.

[jaredboice]

winklevoss own 100,000..

Bitcoin jesus Roger ver owns 400,000

Which means these guys will have wealth like 100 billion and 400 billion

this is not at all practical..seems extremely unlikely

But how can somebody become that rich?

The Federal Reserve issues 100% of new US Dollars into circulation, which they do so as loans to be paid back + interest.  They are essentially the final owners of all our debt based dollars.  And how many trillions of dollars is the market cap of USD??

Yet the OP is making the case that because the referenced Bitcoin investors can later trade large amounts of their Bitcoins (which are limited and rare) with others who want them, that somehow limits Bitcoin's market cap?