Bitcoin is now predicted to go to 10M within 10 years...

[johnarb]

Not this again....

There is always some loon out there there hyping a stock/investment to epic proportions with disillusional basis theories.

The comparison of investment assets Bitcoin and AMC stock is wrong

AMC is limited to the US stock market investors

Bitcoin is a global investment asset. A scarce crypto digital asset that is limited to 21M with millions of bitcoins that have been lost forever

• A street vendor in El Salvador can own Bitcoin
• A 10 year old in Vietnam can own Bitcoin
• A family in Turkey can own Bitcoin
• People leaving Ukraine can own Bitcoin as they leave the country
• Citizens of Russia can own Bitcoin to preserve their wealth
• People of Venezuela can own Bitcoin
• Pension fund in Australia can own Bitcoins
• Houston firefighters pension fund owns Bitcoins
• Wealthy people with accounts at Goldman Sachs own Bitcoins
• Wealthy people with accounts at Morgan Stanley own Bitcoins
  
• Wealthy people with accounts at JP Morgan own Bitcoins
  
• Wealthy people with accounts at Fidelity own Bitcoins
  
• People in the US Congress own Bitcoins
• 3rd richest man in Mexico owns Bitcoins
• Elon Musk owns Bitcoins
• Tim Cook owns Bitcoins
• People in Germany own Bitcoins
• People in Switzerland own Bitcoins
• People in Dubai own Bitcoins
• People Japan own Bitcoins
• People in South Korea own Bitcoins
• People in North Korea own Bitcoins
• People in Argentina own Bitcoins
• 30 million people in the US own Bitcoins
• Ray Dalio owns Bitcoins
• Stanley Druckenmiller owns Bitcoins
• George Soros owns Bitcoins
• Paris Hilton owns Bitcoins
• Tom Brady owns Bitcoins
• Publicly traded Bitcoin mining companies owns Bitcoins
• Corporations around the world own Bitcoins (i.e. Mercado Libre)
• https://www.buybitcoinworldwide.com/treasuries/
• There are many many more in the world that own Bitcoins

There are 56M millionaires in the world but there will only be 21M Bitcoins and millions of Bitcoins are lost

Once these millionaires figure out that there is not enough for 1 Bitcoin for each of them, they will be in a race to acquire some and they will be competing with the ones that are ahead of them already

There are 10M ET users and 99% of them do not have a Bitcoin yet, will you be left out with no Bitcoin?

 

[GotherL]

There are 56M millionaires in the world but there will only be 21M Bitcoins and millions of Bitcoins are lost

Once these millionaires figure out that there is not enough for 1 Bitcoin for each of them, they will be in a race to acquire some and they will be competing with the ones that are ahead of them already

There are 10M ET users and 99% of them do not have a Bitcoin yet, will you be left out with no Bitcoin?

Your theory is flawed since you don't take into account that the majority of the money will dump at high prices and rotate into other investments.

Your theory assumes only buying of BTC until it reaches 1 million.

 

[johnarb]

Your theory is flawed since you don't take into account that the majority of investors will dump at high prices and rotate into other stuff.

You just assume everyone will have diamond hands and keep buying until it reaches 1 million.

Your argument is flawed because the same thing was said when Bitcoin crossed $100, $1,000, $10,000 and on and on

Investors come and go, but new investors with stronger conviction and longer term outlook replace them

There are 250M Bitcoin owners right now but there are 3 Billion Facebook users worldwide

When there are 1 Billion Bitcoin owners in the world, what do you think the price of Bitcoin will be?

What about when there are 3 Billion Bitcoin owners in the world?



"Ultimately, Druckenmiller never owned any Bitcoin while the crypto’s price grew from $50 to $17,000 and “felt like a moron.” Then, a fellow billionaire Paul Tudor Jones called him and said “Do you know that when Bitcoin went from $17,000 to $3000, 86% of the people that owned it at $17,000 never sold it?”"

 

[GotherL]

Your argument is flawed because the same thing was said when Bitcoin crossed $100, $1,000, $10,000 and on and on

A dollar stock can easily be taken from $1 to $100+ but how often do you see a stock go from $100 to $1000+?

Doesn't take a genius to figure that it will be substantially more difficult/improbable for BTC to run higher without massive profit taking once it reaches 100k, 500k, 1m levels. (That's to say, if it even reaches any of those milestones within 10 years to begin with.)

 

[johnarb]

A dollar stock can easily be taken from $1 to $100+ but how often do you see a stock go from $100 to $1000+?

Doesn't take a genius to figure that it will be substantially more difficult/improbable for BTC to run higher without massive profit taking once it reaches 100k, 500k, 1m levels. (That's to say, if it even reaches any of those milestones within 10 years to begin with.)

It's very easy to fud yourself and not invest in Bitcoin and cryptos

You can always come up with reasons to scare yourself, i.e. maybe you might buy the top price and then everyone dumps on you

You proved a point very clearly that Bitcoin investors did not get lucky and won the lottery @M.W.

Bitcoin investors are not cowards

• Imagine buying Bitcoin at $100 and seeing it go to $1,200 and watch it crash to $150 in 3 years and not selling
• Imagine buying Bitcoin at $1,000 and seeing it go to $20,000 and it crashed to $3,000 and not selling
• Imagine buying Bitcoin now at $44,500

When Bitcoin goes above $100K, remember this post and how you were afraid to buy it at this price

When Bitcoin goes above $500K remember this post and how you did not have the conviction to buy it at this price

When Bitcoin goes to $1 Million, remember this post


Fortune favors the brave -Matt Damon

 

[RedDuke]

You're correct, there is unlimited amount of ca$$$hhh at the Fed and they will print!!

Fed is now limited by inflation. Tethers do not have such issue. They just printed a billion few days ago.

 

[GotherL]

It's very easy to fud yourself and not invest in Bitcoin and cryptos

You can always come up with reasons to scare yourself, i.e. maybe you might buy the top price and then everyone dumps on you

I am not scared of anything.

I am just saying you've got more chance of shoving spaghetti up a mountain lion's ass than BTC hitting 1m within 10 years.

 

[Overnight]

...


Fortune favors the brave -Matt Damon

I'm rooting for you. I just hope that if your prediction comes to pass, they do not inflate the thing by adding more and more decimals past 8 to increase satoshi count. Or even worse, work in mini satoshis, which could have a compounding effect of inflating the base unit.

 

[johnarb]

Fed is now limited by inflation. Tethers do not have such issue. They just printed a billion few days ago.

$1 Billion is nothing, that's literally comparable to Powell passing a small gas after eating some beans or something

Didn't they just pass a $1.6 Trillion stimulus recently? I seriously don't keep track and too lazy to google it

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What's interesting is Terra Luna buying $900M worth of Bitcoins right now as reserves for UST and people outside of cryptos have no idea this is going on. It's quite possibly causing this current upward trend recently

And imagine if there are more crypto projects that start doing this?

• Bitcoin miners are not selling their Bitcoins and buying more to put in their treasury reserves
• Corporations like Microstrategy, Tesla, Mercado Libre are putting Bitcoins in their treasury reserves
• And now, a crypto project is about to surpass them all by planning to purchase $10B worth of Bitcoins and put in their treasury reserves
• What's next? Oh, the $1B Bitcoin Volcano bond from El Salvador is oversubscribed and it's planning to buy $500M worth of Bitcoins

 

[johnarb]

I am not scared of anything.

I am just saying you've got more chance of shoving spaghetti up a mountain lion's ass than BTC hitting 1m within 10 years.

You've got to let your imagination go free