Is there any reason why a single Bitcoin wont be worth $1,000,000 USD or $100,000,000 USD each in the next few decades?
I mean, if there's limited supply, and big boy international businesses start using BTC to buy/sell in millions/billions, wouldn't they need BTC to be worth a fuck load?
I feel like every single person in the future that owns some of the 21,000,000 bitcoins are going to be super fucking rich, even if you only own 1 or 2.
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only if you sell it
>Is there any reason why a single Bitcoin wont be worth $1,000,000 USD or $100,000,000 USD each in the next few decades?
yes.
bitcoin won't exist in 3 years time.
Why?
I know.
I have this weird feeling/prediction that the cost of 1 BTC in 2017 will pay for your retirement if sold in 2047.
I don't know why I have this feeling, but I just do.
I feel like it's going to be this super amazing thing that every single person wishes they got into.
$4,400,000 USD of Bitcoin in 2017 was worth $5 USD in 2009. What's stopping it from being worth $44,400,000, or $444,400,000 in then next few decades?
Bitcoin has an actual value cap that unless a bunch of other fiat currencies die the death it will not be exceeded.
That and the US's current governmental stance on it caps its usefulness as a currency.
Thankfully: Some chink politicians and businessmen are using it to hide sums of their wealth and that is starting to expand in popularity so after the big correction coming up we will likely see at least one more boom.
btc will reach 10k then die cryco is the future
EOS/ ETH if enhanced will be main 2 currencies in 20years
Because it has no innate value.
since you basically can't buy anything with it...
Because it's a meme
It's like vaporwave
Because they literally are worth less than a tulip bulb.
>Because it has no innate value.
lol....that's the same as any other currency.
Real currency is valued by the government as a means of regulating the economy.
Most currencies are backed by gold
America in particular is backed by military spending, called a militaristic standard
Canada is backed by nothing so it's monopoly money
Bitmeme is weird to me
I don't see how it has any innate value considering how unreliable the blockchain really is
>if there's limited supply
for something that has no intrinsic value
>Most currencies are backed by gold
Most currencies are backed by the USD, which isn't backed by gold; aka most currencies are backed by the "full faith" of the US Govt in the Federal Reserve.
>how unreliable the blockchain really is
what do you mean?
So basically if the US empire collapses and the US no longer has it's military might, all fiat currency becomes worthless? Right?
So what happens then? Everyone switches over to virtual currencies? :O
The banks.
... AXA already partially owns Blockstream, which funds Core, which is steering BTC into a centralized model which will in effect turn BTC into a centralized regulated electronic money.
Bitcoins blockchain is essentially mathematical proofs that are used to stop people from corrupting the blockchain aka spending funds from someone elses wallets
To me it just seems like a ticking time bomb for someone to decrypt and essentially make all 21 million buttcoins worthless
>not already being rich from crypto
Stupid normies.
If it breaks so does bank encryption.
i'm waiting for the bildeberg coin
Microsoft actually accepts it. I remember I bought something for my Xbox with BTC.
No, just the US dollar. When a country collapse, their currency is worthless and history has show this many times. Typically, a new government is created and a new currency is made. A government will prefer their own currency since this lets them control monetary policy.
Is there a smaller unit than one bitcoin? For instance, how much in bitcoin would a hamburger cost?
- Transaction costs have already made it unsuitable as money.
- The energy cost to keep bitcoin rolling is fucking retarded.
- Chances are that they will do hard fork, in a system with billions of market valuation.
does every bank account holder have access to the banks encrypted transaction database?
no
Banks. They're already making their own secure block chains and the moment they think for a moment btc is taking part of their market share, they will kill it overnight. It's going to be glorious seeing all the shills cry after their scam goes belly up overnight
Bank encryption already has a clear step by step as to how to break it
But NSA has that info on tight lock
It was in the snowden leaks
>Most currencies are backed by gold
Wrong. Every single currency in the world today is a fiat currency, they're not backed by anything. The last pillar of the Gold Standard ended in 1971 when Nixon "temporarily" suspended the Bretton-Woods system in which all currencies were pegged to the Dollar at certain exchange rates and the Dollar was fixed at $35/oz of Gold.
You aren't wrong user, everyone will switch over to the next relevant countries currency.
Probably Germany, but it could be any country theoretically.
Number of bitcoins doesn't mean shit, since you can exchange/transfer 0.0000000000001 bitcoin.
Bits. Bitcoin can go into decimals.
>Is there any reason why a single Bitcoin wont be worth $1,000,000 USD
Well not really. But there isn't any reason why it wouldn't be worth $1 either.
>and big boy international businesses start using BTC
And why would they do that? There are hundreds of other currencies and many of them are probably more appropriate for a specific use than BTC (it's the original but also the most clunky).
>I feel like every single person in the future that owns some of the 21,000,000 bitcoins are going to be super fucking rich, even if you only own 1 or 2
That is certainly a possibility. But they could also all lose their money.
Someone has to be willing to buy a single bitcoin for that amount and somelse has to be willing to sell for that amount.
Not that Bitcoin will be worth a ton of USD, but that USD will be worthless.
Like everyone else who "accepts" it, they convert it into cash immediately.
litecoin is the future guys. far more useful in a global market with millions of transactions a minute
bitcoin makes money.. for the people that sell it. those that buy it may as well piss in their wallets.
>ETH
>80GB blockchain will be main currency
MyFuckingSides.jpg
>A government will prefer their own currency since this lets them control monetary policy.
It's not even about preference... It's mandatory
You can't start anew and use an old crypto (BTC) when you don't have the power to print/share them with all your population.
The new government would have to go into debt and borrrow BTC or other currency to buy BTC.
In the end it's much more simple to just print currency or create a new country cryptocurrency.
BTC has no longevity, it's entire value add is that it was first to market. First to market advantage, when that is the only advantage, will not sustain a product.
Eventually whomever businessess accept BTC will accept any or all other cryptos. There's no reason to be exclusive to BTC or ETH or any other when you're in the business of trading in crypto.
what is stopping a cold beer from costing 650 bitcoin in two years?
yes.
you can have 0.000000000001 bitcoin or any denomination you want.
It takes like no effort to do some research, nocoiner.
Quantum computing will probably render the bitcoin irrelevant at least for a period of time.
Anything that can function as a currency has an innate value just based on the properties that let it function as a currency. I.E. its sufficiently rare, its durable, its infinitely divisible. A lot of things have one or two of those properties but few things have all three. Gold has all three. The bitcoin network is what sets it apart and makes it an attractive store of value. My understanding is that as long as people are mining bitcoin then the network is secure. If people suddenly stopped mining and left it open to attack then bitcoins would surely be worthless. The problem with that is its functionally an electricity sink and so is tied into the petro dollar just like everything else. Maybe people are getting rich individually off it I don't know as far as the system as a whole is concerned its just a way of online banking, that is unmoored and unprotected by big institutional governments, which makes it volatile should they decide to crack down on it, which they most certainly will if it ever starts to threaten their traditional reserve currencies.
$100mil times 21 million bitcoin is $241 quadrillion. That is roughly ten times the existing quantifiable wealth in the world.
>they're not backed by anything
Kinda completely wrong. They're backed by the economy of the country or countries who print the currency. If that economy goes full Venezeula the currency is shit.
Why would that happen? I'm not even sure you can mine coins on quantum computers.
hes saying a quantum computer can break the blockchain
That's not how monetary systems work, user. All currencies today can be printed to oblivion and become completely worthless, that means they're not backed by anything. Your currency is either backed by a physical resource or not, there's no middle ground.
A quantum computer can wreck any block chain and any sort of security that would keep your coins yours.
yeah, it gets replaced by memethereum or Tezos
OwShit.jpg
But then again quantum computers would be able to break any encryption (RIP banks, RIP countries, RIP military...). Guess some wiseasses will have to invent quantum proof encryption.
and the game continues
Quantam computers would be capable of hacking your wallet
They'd also lead to temporary hyperinflation as they solved all the mathematical problems leftover very quickly. You can double the length of time it takes between hashes, but if QC are breaking the hashes at insane speeds it won't matter.
There's talk that BTC has a plan in place for when QC come about, but I expect that plan is to just halt trading and then make the new algorithims harder to solve.
At that point normies will never be able to mine BTC ever again unless they get their hands on a QC.
1. Mathematically impossible
2. It fucking sucks dude. have you ever made transactions? they take a long time.
BTC is literally the beta for whatever comes next, and its not eth or ltc or anything out there right now.
>Guess some wiseasses will have to invent quantum proof encryption.
It already exists - called Quantum Cryptography.
The cost of a Cheeseburger is about 40000 Satoshi.
The transaction cost to transfer that amount would buy you a Daily Double.
If you overprint currency you just fucked your economy by inflating it. The currency is still pegged to the economy.
The US Dollar is backed by the fact that we'll bomb the shit out of you if you try to sell your oil for anything else. Stop saying its backed by nothing its a complete misunderstanding that doesn't hold up to reality. If it did, the dollar would be worthless wouldn't? But if I handed you 100 dollars you wouldn't just throw it away would you? So what does that tell you? There is SOMETHING to it. Its not just funny money.
The next big thing might be out already. There's like 1000 different shitcoins available.
TO THE MOON
Honestly the only sound investment here is to wait for another crash, buy one while they are sub-300 dollars, and just sit on it while you live your life.
If you don't have 300$ to invest in something that is honestly a 50/50 at this point, you need to make serious changes in your life.
people have been saying this for almost a decade now
1999 was 50 years ago etc
but seriously it's been a decade
you people are delusional
God dammit. Guess wiseasses are wiseasses for a reason.
buying and selling take forever on exchanges. but peer to peer is almost instant(unlike with credit cards and banks)
>BTC is literally the beta for whatever comes next, and its not eth or ltc or anything out there right now.
space credits dude, space credits
People are also neglecting to mention that you need a quantum computer to be cooled to almost literally absolute zero before it will even work.
The only companies that can afford these things are tech giants and walmart for some fucking reason. I have no idea what they are using them for but it terrifies me.
HAHAHAAHHAHAHAHAAHAH NO COINER HAHAAHAHAH
I thought you still have to wait for others to confirm it. You can send a higher fee for higher priority tho.
Right?
You're completely missing the point. The Federal Reserve has the ability to "print" (digitally nowadays) as much currency as they can under the current fiat monetary standard. There are no checks and balances which exist under something like a Gold standard. In fact, the FR has demonstrated quite aptly just how quickly they can expand their balance sheet - and they will do it again.
Cant wait for the first people to get a 1500 qubit quantum computer to decrypt it and steal everything or just mine everything in no time.
Bagholders on suicide watch
check out Lightning Network
Don't listen to /biz/. They're fucking retarded. Crypto currency is a short ride because governments of the world hate competition. Just be a normie with your money, start a business, invest it wisely.
That doesnt mean the USD isnt backed, it means that QE was instituted and there should be inflation coming in once the Fed releases the USD it printed into the market instead of hoarding it.
>gold standard
Gold standard isn't really that good. It can still be cheated as it was in the 70s. You need actual physical gold to be free of manipulation.
>Crypto currency is a short ride
Individual citizens will not own them unless they are millionaires. They are insanely expensive to even run, let alone buy.
You need a quantum computer to be cooled to almost literally absolute zero before it will even work. This costs a fuck ton to do.
But user. The lambos. They are waiting.
>8 years
>long
You have to be 18 years old to post here...
Fuck it, I'm saving up to buy a full bitcoin starting today. I've always thought this.
>computers are just a fad
fuck off, grandpa
Well the obvious solution is to run QC in space. Spacetravel is becoming pretty cheap isnt it? Just hang the QE out the window and then bring it back in when youre done bankrupting everyone.
You have to use it and transact with it for bitcoin to have any value. If everyone holds on to it, then no. If more people transact with it and at the same time people lose faith in fiat, then yeah it's possible
This, although I don't know that it would crash all the way to $300 except in the event of a crash that would completely BTFO bitcoin
Space is terrible at cooling anything. You need to have particles to transfer heat away from the computer. There aren't many particles in the vacuum of space.
Can you tell me what it's like to have to cope with the fact that you're missing out on the single biggest bull market of our time? Born too late to explore the world, born too early to explore space, but born just in time to get in early on cryptocurrency... and here you are making snarky, unintelligent posts about it on Sup Forums. Are you over the age of 50 by any chance?
>Well the obvious solution is to run QC in space
See that would make it easier, but here's the thing. Space isn't even cold enough. "outer" space is about 2.7 Kelvin, for a quantum computer to not get interference from heat it needs to be at a temperature of around .015 kelvin, almost absolute zero.
Shit is crazy right now, they need to find a way to isolate and discard heat interference.
...
I know this but I also know that they try to keep it within some limit. So yes they're trying to keep all their different balls in the air and its going to end up failing spectacularly but there are still real world considerations, things that aren't just fiat, that have actual consequences, such, the US Navy just for starters. To suggest that the US Dollar is not backed by anything is to misunderstand your enemy, in my opinion.
>Are you over the age of 50 by any chance?
No but i bet the guy who fucked your mom to produce you was. Did you know downs syndrome is 1 in 11 in women over 49? Autism is 1 in 8. From reading your posts you sound like a pretty "lucky" guy.
If cryptocurrencies are valuable because there are a finite number of 'coins', what stops the cryptocurrency market of being saturated with thousands of new cryptocurrencies made by the ((((banks))))? Isn't it just a matter of time before ((((they)))) take over the cryptocurrency marketplace? They have the financial backing to be able to crash the value of bitcoin don't they?
Im such a brainlet with this stuff, though it fascinates me. Whats the thing about how when you get to the coldest temperatures matter starts acting fucking retarded and moving through itself and being all weird?
THE
FREE
MARKET
WILL
BUILD
THE
ROADS!!!!
I'm going to buy 3 bitcoins and just sit on it and see what happens.
Yeah it's gona cost me $10k, but I don't ever spend money anyway so it would have just rotted away from inflation anyway.
>Whats the thing about how when you get to the coldest temperatures matter starts acting fucking retarded and moving through itself and being all weird?
That's basically what quantum computing uses, that is quantum tunneling.
One big huge scam that will collapse at one point and a small amount of people will have made a lot of money off a lot of suckers who bought in to it.
If you can't hold it in your hand, or if it doesn't work when the electricity is out, then it is a scam.
What are you going to do with your millions in bitcoin when the sun acts up, knocks out the grid for a long time, and sends us back to the stone age?
You're gonna be sucking dicks for to eat is what is going to happen.
The market cap would be in the trillions.
People can and have made other cryptocurrencies.
There's a finite amount of gold too. That's why retards always go on about $10,000+ per ounce of gold.
You've missed the opportunity at this point.