Bitcoin worth $1m

Will bitcoin reach $1m?

  • Yes

    Votes: 5 21.7%

  • No

    Votes: 18 78.3%
  • Total voters
    23
virtusa said:
A lot of people are speculating with BTC, but the real users are maybe 10% of all these people.
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What sort of thing would a real user be doing with it?

I just assumed that virtually everyone who owns BTC was in it to get rich quick. And to be fair, it's worked a treat since its inception. If you hodled it for a few years or so, you would have made 1000% gains or more.

It's not surprising that people see no reason for it not to just carry on doing this. As long as that belief exists, $500k or $1m is certainly not out of the question.
 
Ed48 said:
What sort of thing would a real user be doing with it?

I just assumed that virtually everyone who owns BTC was in it to get rich quick. And to be fair, it's worked a treat since its inception. If you hodled it for a few years or so, you would have made 1000% gains or more.

It's not surprising that people see no reason for it not to just carry on doing this. As long as that belief exists, $500k or $1m is certainly not out of the question.
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Hm....this is where sheep and sharks go different directions. One is going down the rabbit hole, the other keeps living in denial until it gradually, then suddenly dawns on everyone.

What would the world population do with a decentralized currency that is censorship resistant.
Make it more convenient to pay the Supersized at McD's, perhaps?
 
virtusa said:
A lot of people are speculating with BTC, but the real users are maybe 10% of all these people. If governments come with their own official digital currencies they can easily wipe out BTC. Just making their digital currencies more stable, not a rollercoaster, and it will be quickly clear what people prefer.
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People use Bitcoin to make money. How do you make money with a stable government currency? I don't think you understand the concept of Bitcoin
 
GangstaTrada said:
People use Bitcoin to make money. How do you make money with a stable government currency? I don't think you understand the concept of Bitcoin
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virtusa-is-a-liar has been gaslighting the CC forum for a while. He posts extremely moronic stuff to frustrate others who try to educate him. He does not want to be informed

virtusa-is-a-liar only wants to waste time and effort of others and to keep others from investing and possibly profiting in crypto digital assets. He's a loser

That's why he shits in his pants when asked to post screenshots of his trading. vitusa-is-a-liar is a pathetic piece of shit :D
 
SPX Options Trader said:
Cryptos will crash or stagnate. The same way people view the late 90's dot com crash a decade or two after.

Governments are, presently, creating their own official digital currencies, so those cryptos will not be as seemingly mainstream and exciting and relevant anymore.
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CBDC's aren't the same as crypto. The bull thesis for BTC is actually pretty straightforward, which is that over a period of 10-20 years it will find a portfolio niche, and see gradually rising adoption, as a new-age digital version of gold. This will occur with generational turnover among high net worth folks and asset managers. It seems reasonable that BTC could hit a market cap of $3T or so at the current gold price, roughly a 3 fold gain from here albeit over a decade or two.

ETH is more of a binary outcome IMO, either DeFi, NFTs, smart contracts etc. will take off and provide an indefinitely sustainable source of demand for the token, or else they won't.
 
virtusa said:
A lot of people are speculating with BTC, but the real users are maybe 10% of all these people. If governments come with their own official digital currencies they can easily wipe out BTC. Just making their digital currencies more stable, not a rollercoaster, and it will be quickly clear what people prefer.
More...

The bull case for BTC doesn't rely on its use as an everyday currency - in fact it doesn't anticipate such use at all. Nobody pays for daily purchases with gold coins or bars, but the stock of gold held for investment is worth trillions of dollars.
 
Ed48 said:
What sort of thing would a real user be doing with it?

I just assumed that virtually everyone who owns BTC was in it to get rich quick. And to be fair, it's worked a treat since its inception. If you hodled it for a few years or so, you would have made 1000% gains or more.
More...

US CBDC (Central Bank Digital Currencies) is just an electronic form of the USD but instead of having an account with say Wells Fargo, you will have an account with the US Central Bank

You get your stimmies faster, but perhaps it is not possible to transfer it to your Robinhood account or if work around it through intermeidiaries, i.e. sending to your cousin, you may not get future stimmy checks

You may be able to use your CBDC with your landlord as it's most likely he/she also has a CBDC wallet

You may not be able to use it at Whole Foods but Walmart probably will have a CBDC wallet. Idk, just making shit up, since CBDC has not been released yet

Certain people will get negative APY on their CBDC wallet to encourage spending or slowly lose balance, while others get a positive APY to encourage savings

Incumbent banks will not like CBDC wallets where they are not part of the game so they'll insert themselves in the process to get their cuts, one way or another, but then we're back to our current banking system/debit/ACH

Idk, I'm just trying to repeat what I read here and there :D

But what would you do with it? same as your USD. It's not a digital investment asset like bitcoin :cool:
 
In my opinion, it's almost impossible for a cryptocurrency to have such a price. Such option is possible only due to several reasons. The main reason is devalvation of all national currencies, and transfer from papre money to digital money. In this case, the worth of bitcoin would be very high, even higher than 1 million dollars. However, as we can see most countries and governments are seriously regulate bitcoin nowadays and they don't want bitcoin to replace national currencies, mainly because it will be expensive enough to transfer livelihood of people to digital currencies. I think it's like that.
 
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