Cryptocurrency, specifically Bitcoin, have speculation on how it will someday surpass $100,000. How likely is this? Where does this newly generated wealth come from?
Cryptocurrency, specifically Bitcoin, have speculation on how it will someday surpass $100,000. How likely is this...
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I cant believe people still fall for the 100k meme.
It's not new wealth and all wealth is made up . Everything is fake user
Try 1 million
because demand will rise as people realize its value, allowing people to hike up the price to suit said rising demand
The idea is that it could one day become the standard global store of wealth. I bought 1 BTC back at the end of 2012 for $10 with that purpose in mind. That if it did one day take over, 1 BTC would make me rich. Then when it got to $120 value I spent it on silk road xDDD
$5 million per bitcoin by December.
Total market capitalization divided by number of coins.
Jim Cramer and CNBC said so with all their fake news.
Must be true.
OP here, its just the more I think about this whole Cryptocurrency thing the more I think its all built on speculations. There is no solid ground to stand on for these things.
Crypto is either worth a lot or more likely a facade some hedgefunds can use to basically pump and dump legally.
If it's a facade, how long do you think it will last for us to get rich? Until the US legislates it?
The ground it stands on is that it will one day replace fiat, it might happen in the next 5 years or in 30 but it will happen.
Its all build around supply and demand. If more users come in wanting btc it will drive the price up. If a halving comes around and less coins are mined while the demand stays the same, the price goes up. But if the users dont want the coin, it will go down. Speculation is it will be used by more and more people the longer its around (years to come).. But as we have seen its network can barely handle whats being thrown at it, in terms of total # of transactions at once. Increase block size, will increase the amount of space needed on ones PC (unless using some online wallet or a lite wallet). For every up(positive point) there is a down (negative point). If the blockchain can really be fixed/ironed out to handle widespread usage, the potential is there. But if delays keep happening, focus will shift to another coin (depending on timeframe)
That's why I'm keeping my eyes out for good up-and-coming cryptos that I think could become more standard as BTC shows its age (VIA and DCR are the ones I'm looking into right now, don't actually own any yet though)
1 Bitcoin could be worth $1 in ten years or $100,000. Difference between you and me is I'll still have all my bitcoins when it's $1
cryptos only value is in its ease of use and storage, anonymity, and its manipulated by chinese instead of (((them))). shills believe the future of money isn't hauling around paper, but just swiping your iphone across an automated cashier to pay for groceries delivered via driverless car.
only problem is you can create an infinite number of coins, each with various pros and cons. what happens when a coin thats technologically superior to BTC comes out? anyone who says they're a store of value is an obvious shill.
How many bitcoins do you think have been permanently lost? Like some dude having a hard drive and he lost it. Are they gone forever? Explain that shit to me please
xD xD xD
I had 3 on my hdd back in 2011 when I was in high school. I said, "this is fucking stupid. I have to mine 40 of these for some weed on the silk road" and ended up formatting my hdd. So, there is 3 gone forever. im sure there are others like me
>How many bitcoins do you think have been permanently lost?
Give or take the current value of ethereum because only people who lost btc, sold their btc, dismissed btc as a joke once before, or are summerfags and don't know any better own eth
Yes, they are gone forever. This makes all usable bitcoins that much more valuable.
The thing you don't get is the network effect, which is critically important to the blockchain technology. No other coin will ever be able to compete with the network bitcoin was able to create between 2011 and now.
Bitcoin getting to $100,000 is a conservative estimate. Shit coins are fun and all, but at the end of the day, you gotta convert back to BTC before it's too late.
Lol what value it's 1's and 0's, the only reason fiat (mainly the usd) has any clout is because even if we default what is any other country going to do to the nation with the largest navy/Air Force/army? Money is just a way of quantified power.
As soon as backing the usd with oil stops being ideal the us will switch to the newer better resource be it gold, lithium whatever. Military power = value
Btc will never reach 10k
Wordplay. Realize as in to make a reality, instead of as in to become aware of as real.
They will realize the value. Not that it was already there, but that they will make the value real by seeing (even if it is a mirage), and believing.
Like most monetary instruments, the value is only there because people believe it does.
You're gonna be btfo when you see me repost this in 2 years.
It sounds like a luxury of the modern world as opposed to a necessity of future trade, don't get me wrong I'm still investing but I'm also prepared for 100% losses on a pins drop
Screencapped. You're gonna be btfo when you see me repost this in 6 months
until people realize there are better alternatives. BTC is slow, inefficient, and of course theres the fork. ETH is already proof that another coin can eat its market share. you're right. I'd say its only value is that the most people use it. for now.
you DO realize that there's not just one person "behind" bitcoin determining the future price, and especially not a government
bitcoin is global; its price is being determined by everyone who uses it
so if the WORLD wants bitcoin to be $1,000,000,000,000,000,000,000,000,000,000,000....it fucking will be
have some perspective, faggot
Long term people don't want a currency ruled by an autistic slav with a cat face bag, sorry
being slow has nothing to do with the technology, blocksizes could be easily increase and make it as fast as any shitcoin out there, but then security/hashrate comes into play. They have some of the best devs and every coin is pretty much a bitcoin fork which means they have to open source it. BTC is not going anywhere
sure the world can want bitcoin to be that much but are there enough resources and stuff to support it at that price?
Market cap for these cryptocurrencies matters more than you think.
Why are you so butthurt about not getting in on ETH years ago?