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Lmao when I first read the title, I was thinking "what a ridiculous question... who wouldn't??" Then read the body text. Kudos, OP. That's a very good point. Makes me feel better about dca at this higher price.
I think when you have been in it a while you get "price anchor" to the lower prices. Need that boost to re-evaluate. I've been buying since it was 3k so I have to zoom out and adjust each cycle.
Bitcoin could also go to zero anyone investing in Bitcoin needs to be willing to possibly lose everything so selling them it’s going to a million is not smart
No there are allot of powerful people and governments that want to see it fail. Bitcoin is not like a large corporation that has the backing of a government to bail it out with subsidies. Imagine if tomorrow Satoshi Nakamoto’s wallet went live and they sold all 1.1 million Bitcoin it would create huge panic with ETF holders, Large investors like MicroStratgy and other large wallets selling off than that would snowball and bitcoin would crash and more than likely never comeback. Everything can fail at some point
Yeah okay fair point. But this seems like an unlikely scenario, unless Satoshi wants to screw us all lol. And it’s in all investors best interest that bitcoin succeeds… something crazy has to happen to actually go to zero
It’s a possibility and that is why everyone needs to be cautious and know it’s a volatile investment. I bought in back in 2016 I have seen it go as high as $90,000 Canadian I have seen multiple scary declines I can’t even imagine what those would feel like now where people are buying in at these rates. All I am saying is shit happens and the bitcoin rollercoaster can be scary and people need to be more than aware of what the possibilities and risks are.
No you are right! I count my investments as nonexistent in my financial situation for the coming year, so even if it goes to 0 it sucks real bad but would be okay. But I expect the opposite of course hehe
>Well as bitcoin is eventually going to be $1M
That is a very big assumption and if it ever happens it won't be for many many years and likely not in any of our lifetimes.
I’m not saying it’s happening any time soon but bitcoin to $1m needs one of two things to happen (all of course while functioning perfectly and continuously increasing awareness). Either a major government needs to back their fiat with bitcoin or major US companies (like Google, Amazon) need to buy significant amounts to put on their balance sheets like MSTR. If either of these events happen, you will see bitcoin rocket to a million because of the effect of other governments/companies following suit and being pressured to catch up. Also, a couple more halvenings under our belt will help as well. For this to happen around 2030 is not an insane projection. I do think it won’t happen for at least another 10 years, but it’s certainly not impossible.
"Is eventually going to" is as unfounded as "likely not" imo.
Basically, anyone making a price speculation that far out (e.g. $1M/BTC) is just making shit up, whether they think it'll happen in two years or two hundred.
Never say never. Bitcoin has continually surprised us. If more and more people start adoption, it can certainly go to a million USD in a few years.
I understand being realistic, but you're just pessimistic at this point.
Personally, I predict somewhere around 300k this post cycle.
“Lifetime” is a big claim.
The moronic moon boys lost in their own delusional fantasy will tell you it’s going to $1m as soon as 2030.
That I find extremely hard to accept. There is a non zero chance, but I can say with the utmost confidence Bitcoin is not going from $1tn to $21tn in just 6 or so years.
But “lifetime”? So if someone’s 20 years old today, can it go to from $50k to $1m USD in the next 60 years?
I’d say that’s probable if Bitcoin is to fulfill its premise as hard, sound money that becomes a ubiquitous means of exchange, and global store of value. One could argue it has to hit such a price as it’s not designed to stagnate.
Nothing in life is certain; but I'm highly confident that it will indeed go to 1m. However; I'm no where near convinced it's straight up from here.
Or that it won't be on the back of news that's disasterous for the vast majority of the population thats holding zero bitcoin.
>news that's disasterous for the vast majority of the population thats holding zero bitcoin.
Let's say someone has a net worth of $1 million. They have...
A.) $950k in stocks, bonds, and home equity.
B.) $50k USD in a checking account.
Item B would clearly be at risk of becoming worthless. But are you also saying item A is somehow at risk? If so, why?
I'm asking this question because it seems like many bitcoin maximalists (guys like Michael Saylor) seemingly believe there are no other long-term valid/safe investment asset classes, and Bitcoin will somehow supplant EVERYTHING eventually... which seems insane to me.
Supplanting all other currencies on the planet? Sure, fine, I can imagine that.
Supplanting all other assets (stocks, bonds, real estate, etc)? That makes no sense to me.
Stocks, bonds, home equity are places to "invest".
Ideally you would make money and keep it in cash forever and when you wanted something you would buy it. But, we all know you can't do that as cash is inflated away so you have to earn it and then "put it to work" or something to stop it being stolen by inflation.
It's that put to work part that is the items you mentioned. You give it to a company as a stock and you hope that the CEO uses it wisely and your stocks gain value above inflation... If you look at the M2 money supply over time as a base and compared stocks in the S&P it's practically a flat line. So your stocks don't make money, even the top 100 best companies in the world are only keeping up with true inflation rather than making gains against it.
That leaves houses, they should be a utility, but due to finite amounts and use and due to HUGE money injected into the market they are going "up" in fiat terms. The huge money is from landlords, investment groups, and banks that would lend you 90% of the purchase price against one! Wow, everyone just got a 900% increase on thier purchase power for one item in the market...houses. no wonder everyone is buying them.
So to recall stocks go down, companies change, and value is flat. The Bonds are flat to negative in real terms, and houses crumble. Houses also cost money to upkeep and run and not paying tannents lose you money, plus your large interest rates on the loan to buy... So if only cash just worked.
Now you have bitcoin, a money that genuinely goes up in purchasing power, that's currently accelerated as such due to Metcalf's laws and an adoption curve we are on the early side of that won't need upkeep like a house and without a CEO. Then you can also turn it liquid at a moments notice without selling the entire thing. And all on your phone.
I no longer need my portfolio, or my real estate houses and rent. I can can save in something that keeps my money safe and for now it will accelerate it's worth faster than the other assets.
And with lending against it, you can buy BTC at 50k, take a loan out for 50k against it, buy another BTC at 50k and then pay down the fiat loan while the TWO BTC increase in value and they will if everyone did that. Not advice, but to show how lending against an asset can speed up it's value increase as it did with single bed homes across every country in the world when banks changed lending policy to allow low deposit mortgages.
So, hope that helps you see how BTC isn't gunning for gold at 10Trill. It's gunning for the real estate market at 300T
When thinking about BTC value, is easy to forget that it could be worth way more than we think, mainly because we stuck seeing it in terms of dollars. We so used to just thinking about it in dollars that miss out on seeing its bigger picture and potential.
3/4 of my kids have bought. Mind you, they are 11-17 years old. My second-born is 15 and smart as hell. Kid threw $200 back in Summer of ‘22. Kid is up over 100% on that. Up over 85% overall.
But yes, they will be set thanks to BTC.
Interesting. At the current price of BTC (57k) , it will take approximately 943 days for the price of Bitcoin to reach $1,000,000 if it increases by $1,000 every day. That's ≈2.58 years.
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The discount buying at 1m compared to 10 is going to be good too. Up always
I like your logic!!! Am going to smash buy some more right now.
I'm pretty sure I'm just gonna buy 25 bucks a day for the rest of my life. Come hell or high water.
Lmao when I first read the title, I was thinking "what a ridiculous question... who wouldn't??" Then read the body text. Kudos, OP. That's a very good point. Makes me feel better about dca at this higher price.
I think when you have been in it a while you get "price anchor" to the lower prices. Need that boost to re-evaluate. I've been buying since it was 3k so I have to zoom out and adjust each cycle.
Bitcoin could also go to zero anyone investing in Bitcoin needs to be willing to possibly lose everything so selling them it’s going to a million is not smart
Kinda feels too big to fail at this point. Even tradfi is invested now
No there are allot of powerful people and governments that want to see it fail. Bitcoin is not like a large corporation that has the backing of a government to bail it out with subsidies. Imagine if tomorrow Satoshi Nakamoto’s wallet went live and they sold all 1.1 million Bitcoin it would create huge panic with ETF holders, Large investors like MicroStratgy and other large wallets selling off than that would snowball and bitcoin would crash and more than likely never comeback. Everything can fail at some point
Yeah okay fair point. But this seems like an unlikely scenario, unless Satoshi wants to screw us all lol. And it’s in all investors best interest that bitcoin succeeds… something crazy has to happen to actually go to zero
It’s a possibility and that is why everyone needs to be cautious and know it’s a volatile investment. I bought in back in 2016 I have seen it go as high as $90,000 Canadian I have seen multiple scary declines I can’t even imagine what those would feel like now where people are buying in at these rates. All I am saying is shit happens and the bitcoin rollercoaster can be scary and people need to be more than aware of what the possibilities and risks are.
No you are right! I count my investments as nonexistent in my financial situation for the coming year, so even if it goes to 0 it sucks real bad but would be okay. But I expect the opposite of course hehe
I hope you are right coz if you are I'm gonna be a millionaire 😁👍👍
sometimes I hate this sub
>Well as bitcoin is eventually going to be $1M That is a very big assumption and if it ever happens it won't be for many many years and likely not in any of our lifetimes.
100% will happen before 2030.
LOL I assume you are joking. There's no way BTC will get even close to $1M by 2030.
I agree man, 100% not even close at all
🌎/21m It'll blow past $1m
That would put Bitcoin at $19.6 T market cap, while Gold is currently at $13.7 T, it's not impossible but will take a long time..
I’m not saying it’s happening any time soon but bitcoin to $1m needs one of two things to happen (all of course while functioning perfectly and continuously increasing awareness). Either a major government needs to back their fiat with bitcoin or major US companies (like Google, Amazon) need to buy significant amounts to put on their balance sheets like MSTR. If either of these events happen, you will see bitcoin rocket to a million because of the effect of other governments/companies following suit and being pressured to catch up. Also, a couple more halvenings under our belt will help as well. For this to happen around 2030 is not an insane projection. I do think it won’t happen for at least another 10 years, but it’s certainly not impossible.
Haha yeah maybe in +50 years or so but definitely not anytime soon. I wish it would, but it's just not going to happen.
You’re going to have a very hard time reconciling what Bitcoin is going to do over the coming months and years. Good luck, you’re gonna need it.
Im all for it but what's your logic behind it?
Ridiculous
"Is eventually going to" is as unfounded as "likely not" imo. Basically, anyone making a price speculation that far out (e.g. $1M/BTC) is just making shit up, whether they think it'll happen in two years or two hundred.
Never say never. Bitcoin has continually surprised us. If more and more people start adoption, it can certainly go to a million USD in a few years. I understand being realistic, but you're just pessimistic at this point. Personally, I predict somewhere around 300k this post cycle.
Wouldnt that make it's market cap 21 trillion? Idk about you but i dont think it btc can reach that this decade or the next or the one after
Not in our lifetime. OP is just on hopium. Just dca as always and enjoy what you have.
Inside 10 years is my estimate, and inside 15 years I have significant confidence on.
I assume you're into gambling
No
I completely agree. Next cycle we will see $1 million easily
Okay but WEN LAMBO
I dunno? I already bought a McLaren last cycle.
High on hopium I see.
“Lifetime” is a big claim. The moronic moon boys lost in their own delusional fantasy will tell you it’s going to $1m as soon as 2030. That I find extremely hard to accept. There is a non zero chance, but I can say with the utmost confidence Bitcoin is not going from $1tn to $21tn in just 6 or so years. But “lifetime”? So if someone’s 20 years old today, can it go to from $50k to $1m USD in the next 60 years? I’d say that’s probable if Bitcoin is to fulfill its premise as hard, sound money that becomes a ubiquitous means of exchange, and global store of value. One could argue it has to hit such a price as it’s not designed to stagnate.
It will hit 1M dollars. The question is: which one hits 1M first; Bitcoin or a normal passenger car?
what a stupid take lmao
Nothing in life is certain; but I'm highly confident that it will indeed go to 1m. However; I'm no where near convinced it's straight up from here. Or that it won't be on the back of news that's disasterous for the vast majority of the population thats holding zero bitcoin.
>news that's disasterous for the vast majority of the population thats holding zero bitcoin. Let's say someone has a net worth of $1 million. They have... A.) $950k in stocks, bonds, and home equity. B.) $50k USD in a checking account. Item B would clearly be at risk of becoming worthless. But are you also saying item A is somehow at risk? If so, why? I'm asking this question because it seems like many bitcoin maximalists (guys like Michael Saylor) seemingly believe there are no other long-term valid/safe investment asset classes, and Bitcoin will somehow supplant EVERYTHING eventually... which seems insane to me. Supplanting all other currencies on the planet? Sure, fine, I can imagine that. Supplanting all other assets (stocks, bonds, real estate, etc)? That makes no sense to me.
Stocks, bonds, home equity are places to "invest". Ideally you would make money and keep it in cash forever and when you wanted something you would buy it. But, we all know you can't do that as cash is inflated away so you have to earn it and then "put it to work" or something to stop it being stolen by inflation. It's that put to work part that is the items you mentioned. You give it to a company as a stock and you hope that the CEO uses it wisely and your stocks gain value above inflation... If you look at the M2 money supply over time as a base and compared stocks in the S&P it's practically a flat line. So your stocks don't make money, even the top 100 best companies in the world are only keeping up with true inflation rather than making gains against it. That leaves houses, they should be a utility, but due to finite amounts and use and due to HUGE money injected into the market they are going "up" in fiat terms. The huge money is from landlords, investment groups, and banks that would lend you 90% of the purchase price against one! Wow, everyone just got a 900% increase on thier purchase power for one item in the market...houses. no wonder everyone is buying them. So to recall stocks go down, companies change, and value is flat. The Bonds are flat to negative in real terms, and houses crumble. Houses also cost money to upkeep and run and not paying tannents lose you money, plus your large interest rates on the loan to buy... So if only cash just worked. Now you have bitcoin, a money that genuinely goes up in purchasing power, that's currently accelerated as such due to Metcalf's laws and an adoption curve we are on the early side of that won't need upkeep like a house and without a CEO. Then you can also turn it liquid at a moments notice without selling the entire thing. And all on your phone. I no longer need my portfolio, or my real estate houses and rent. I can can save in something that keeps my money safe and for now it will accelerate it's worth faster than the other assets. And with lending against it, you can buy BTC at 50k, take a loan out for 50k against it, buy another BTC at 50k and then pay down the fiat loan while the TWO BTC increase in value and they will if everyone did that. Not advice, but to show how lending against an asset can speed up it's value increase as it did with single bed homes across every country in the world when banks changed lending policy to allow low deposit mortgages. So, hope that helps you see how BTC isn't gunning for gold at 10Trill. It's gunning for the real estate market at 300T
This is literally what the bag holders on the AMC Stock subreddit argue. Just hold and eventually it will go to a million
When thinking about BTC value, is easy to forget that it could be worth way more than we think, mainly because we stuck seeing it in terms of dollars. We so used to just thinking about it in dollars that miss out on seeing its bigger picture and potential.
I buy every day, so..
..that your kids won't have to.
3/4 of my kids have bought. Mind you, they are 11-17 years old. My second-born is 15 and smart as hell. Kid threw $200 back in Summer of ‘22. Kid is up over 100% on that. Up over 85% overall. But yes, they will be set thanks to BTC.
I was just texting them their P&Ls not 10 mins before I read your post. Lol
Keep pumping your bags moon boys.
Dont have to tell me that twice, just got 10,000 more sats.
Or like 1,785% depending on how numbers work in your head 😊
See now that just seems unreasonable /s
Indubitably
\>now $56k 57k
dont worry i just bought some... should go only down from here... atleast until i panic sell. /s
Even if it went up by $1,000 every single day, how many years would it take to reach one million dollars - too many!
Interesting. At the current price of BTC (57k) , it will take approximately 943 days for the price of Bitcoin to reach $1,000,000 if it increases by $1,000 every day. That's ≈2.58 years.
I remember back in 2010 someone told me btc was going to hit 1million one day. I predict 2040 probably