Why a bitcoin price prediction of $1 million isnt crazy
If you are not familiar, Tim Draper is a billionaire tech investor who has been bullish on bitcoin since early at the very least. He made headlines back in when he purchased roughly 30, bitcoins from an auction done by the US Marshals service relating the Silk Road shut down.
It wasn't entirely clear why he picked that number, but speaking at a Blockchain event in California on April 12th he told investors to believe it. Those may sound like crazy predictions, but keep in mind that Draper made a prediction like this before, and guess what, it came true! So, before you throw out this wild sounding prediction, keep in mind that the last time he made a prediction like this for an extreme price rise, he nailed it. Click the Play button below and start listening to the audio version of this article.
I think bitcoin will hit k even before considering the rising popularity of bitcoin will deplete value out of fiat and non-inflationary nature of bitcoin more people will trust bitcoin and will use it for storing and money exchange. The only issue currently is scaling and high fee which should get resolved with time. You are missing why a bitcoin price prediction of $1 million isnt crazy point crypto is an intermediate system its not the end all be all its just there to co exist with fiat.
Everyday btc this or that. Are you saving for this or that? Cause when it is here you need to scream or cry. It would go much higher. Number 1 reason is because government is failing so their fiat money is losing value. My father invested on k began from 18 yeard old. Now he is 60, the same amount of money he can withdraw now. But what is the value of all the money he invested? The time he invested a dollar is worth real dollar but if your withdrawing it today your dollar is now worth today or even worst The inflation is a killer.
In principle Bitcoin's engine can support any price. The one big issue is electricity consumption. Mining is driven by profit which is mining income less electricity cost and some overhead. If the price of Bitcoin increases there is more income and hence there will be more miners. Sadly it does not even matter if miners get more efficient as we will just have more of them, driving the difficulty and hashrate up.
One halving taken into account here. Is it politically feasible to allocate that much electricity to Bitcoin Mining? Is the level of security justified to protect the market cap or is it too high driven only by profit seeking miners? Finally, Bitcoin could change the consensus algorithm but would it still be Bitcoin then? Sounds good to me. Thanks for the post! Then 1 million by The sky is the limit once the average investor begins to allocate a fraction of their wealth to crypto.
First will be mutual fund, etf, pension funds, etc. Everyone getting real bullish again. We all secretly mcafee doesnt have to eath anything espically the HODLers.
Atleast shitcoins and scams are slowly getting shaken out. Last year saw a 20x increase. A 20x increase from current levels will take us half way to k per btc!! Not as mad as it sounds. I closed my BTC positions right tonight and I will wait for a correction to buy back.
HODLing with no logic will make no sense. BUT, there is something very true: Cryptos are altering fiat moneys and governors fail to avoid that. People are fed up with lobbyist regulations and this blockchain technology has provided them the ability to skip some worthless ones.
I'm a fan why a bitcoin price prediction of $1 million isnt crazy any decentralized project starts. IMO Bitcoin won't hit those heights unless there is a worse recesssion than we had in and the whole world system falls apart.
Just beacuse Tim was right on previous occasion do not discount the future wrong. But then again its Tim Draperwithout substance this man never bets.
I think the bitcoin reward halving for miners will play a part in this as well, and its expected to happen sometime in May Might not be a super popular opinion, but Tim Draper was an advisor behind Tron back when it was under the radar in September It means that Bitcoin is worth 30 times more than today - or about 4 trillion market cap. But it's a lot for a failed crypto currency. We will see how Bitcoin keeps up. I'm sure there will be cryptos worth 2 or even 4 trillion in terms of market cap.
I would not bet my dick on it. It doesn't make much sense to try to move around BTC due to high network fees and unreliability of the network. Makes me shiver to think of some coin is worth only little over 2 satoshis It also makes me happy when I see total worth of my coins is currently more than 10 EUR due to prices been lower than ever, as I started with just 0. Your post is very good!
I agree with that growth on Bitcoin price and I'll add one argument to support it: Many economic indicators are warning about an economic recesion. If that happens, stock markets will drop, as well as trust on governments. Wise money will search for other markets and Bitcoin might be one of the winners such as Gold in other previous crisis.
I personally think that this is possible and I would like it to happen, but my concerns are as to the acceptance of governments as we know they are constantly doing uphill and why are they losing control over us. Hola jrcornel Vamonos a K para finales del Saludos.
Actually that prediction isn't outrageous. And with big investors like soros coming in, it's just a matter of time before other big investors jump in. Bitcoin has also shown the skepticals that it's here to stay with the numerous FUD news that have come out in and it's still strong.
I remember thinking it was going to die in Here we are in and it's only getting bigger. Bitcoin has very strong community behind it We can see it when people try to fork it and fail to replace it even though they fixed major flaws the legacy Bitcoin had. I think it is very reasonable despite slow confirmation time and high fees, if we compare bitcoin to gold, bitcoin has even better properties and its 40 times or so cheaper, so K is very realist price target.
Great post friend great work and contribution for all if you can support me with a vote in my blog greeting. Definitely that will happen. Also check why a bitcoin price prediction of $1 million isnt crazy this video https: Big players are in the market, bitcoin and cryptos will be their new toy. We can all hate it, but it will trigger new highs for sure. I would recommend https: BTC is bound for new heights as well as all the major cryptos the question is when and how much of course.
I feel it wont take 4 years because of the growing popularity it will be here in 2 years or less. For those of us holding ALT coins lets hope the good fortune spreads across the whole market!!!
If no problems in the failing financial system happens, then bitcoin's price might rise that slowly. I am more able to believe in k by the end of this year and 1, by the end of next. It might not be as crazy as it sounds That is the latest price prediction from Tim Draper. Looking into his crystal ball, he proclaimed: He makes those claims based on previous trends and patterns why a bitcoin price prediction of $1 million isnt crazy in the price action why a bitcoin price prediction of $1 million isnt crazy bitcoin.
Saying that although it sounds crazy, there might be something there Why a bitcoin price prediction of $1 million isnt crazy informed my friends. Authors get paid when people like you upvote their post. I do agree also. All other things being equal. Sounds about right to me! Who will buy it win! That's another bounty of rising. This could imply a massive devaluation in USD Haha yes, that is very true.
He will be without a certain body part
I do not really think McAfee's predictions are viable with the current methodology of bitcoin. Yes, it is slow. If you know it is slow that is something you can work around and you can treat it like getting access to your safety deposit box. So if it were simply the slowness at issue then I believe his prediction would be accurate.
I was trying to withdraw it to a bitpay visa. I stopped using that card at that time. I also stopped sending bitcoin anywhere. What bitcoin I have at this point is simply on exchanges and I use it to purchase and convert to other currencies. To why a bitcoin price prediction of $1 million isnt crazy bitcoin is extremely unattractive as a currency. It is for all intents and purposes robbery and unusable as a currency. If it were to hit that then the miner fees would need to be drastically reduced.
There is a little too much greed involved when the fees are so insane. I do realize those fees are used to prioritize tasks. It is a market. If the fees become so unattractive then the project fails.
It is why I no longer use bitcoin for any purchases. I no longer withdraw bitcoin, I only exchange it. Prior to that day I was using bitcoin for most of my purchases. It was what I'd convert to fiat when needed. In a way the insane fees did me a service. I found much better ways to achieve my needs that save me a ton of money compared to what I was losing by using bitcoin as a currency. So if these predictions are to happen bitcoin needs some severe changes to it's fee structure.
Otherwise, I don't see any sane market using it as a currency. Also I am on some exchanges where I own no bitcoin. In those places I use ethereum as my exchange medium. If I could use steem as an exchange that would be a no brainer as ethereum is faster than bitcoin, but it is still pretty damn slow.
I've done some experiments with speeds of Bitcoin Cash, Ethereum, and Litecoin as well. Out of those litecoin was the fastest. Though all of those are way slower than steem. I do think bitcoin will still have some high moments. I just don't think it will reach the predictions of McAfee. The fees are becoming a far bigger issue than the speed.
I am using litecoin to move my value. Litecoin is acceted if you want to chenge to fiat and why a bitcoin price prediction of $1 million isnt crazy low fees. I wonder if this will change for bitcoin and fees can go down? I tested all the currencies that coinbase accepts which is where I am converting my fiat and I found litecoin to be the fastest at the moment and have the lowest fees.
I am waiting for the day that the steemblockchain will be used for all these things, that would be even better! This isnt normal anymore. I honestly don't think btc will keep rallying like it has. As investors become more educated they'll surely realise the potential of alts and invest more heavily in those. You've got some great points here that should concern us all but on the flip side if you had in BTC a small amount and it turned why a bitcoin price prediction of $1 million isnt crazy a million would a higher fee really matter?
I suppose it would but then if it did convert it into other alts or investments if you will to have other ventures. I think BTC still has yet to really spread its wings to the clueless herd that I keep hearing is coming so this alone should why a bitcoin price prediction of $1 million isnt crazy it's value enormously right? Other than that it still the primary gateway coin to use within the CrYpTo realm. I also think many think of it as the best store of wealth rather than the best useful coin?
I don't know your points do raise concern with me. I suppose time will tell for sure? Good to see you my friend. I take it you're doing well? Good to see you too. Found out I have high blood pressure, but I got it under control. So yeah I am well. I was using it as a store of value myself and lately Ethereum seemed to be better for that but that is only within the last month or so.
I also do some exchanging on binance and they give the option there to do everything in ethereum to other currencies so bitcoin is not needed as the middle man. IF that trend continues I believe bitcoin could lose it's throne. This is also why I invested in a diverse number of cryptos I own all of the top 10 but Ripple.
I won't do ripple even if it goes up. Ripple is a step in the wrong direction. I just joined binance not long ago and have yet to do anything with it. I didn't realize Ethereum was used in this manner there. You may be right. I'll be lookin' into that as BTC still seems to be the only one everywhere else that reigns supreme. I do think it'll go up however but that's just my opinion. The name is too well known for the ones who haven't learned anything about CrYpTo'S yet not to invest in it when they do.
Also for some reason I just feel like the 21 million number will have something positive to do with its value in the future? I'm glad you're allgood my friend. I'm great just out playin' in the not so normal Southern snowy weather with the kids today as schools were closed here.
We're good here just livin' life and enjoying the crYpTo fire sale: What are your thoughts on kucoin's exchange? Any experience with it as of yet?
Under my blogs I have a referral code if your looking for a new one. If not no biggie. I figure it doesn't hurt to have many on hand due to the bogging down or the different prices.
Any thoughts if you do have experience with it let me know. I never use BTC for anything except to exchange some coin for another on bittrex. I never send it from one wallet to another. I do hold 0. Hell, it may not even be 1 market cap by end of I agree that all sums me up too.
I was mostly using bittrex and have lately been sending coins I need to convert to fiat to coinbase, though I never send bitcoin. I recently also got a binance. There they have a bitcoin based market like bittrex, but they also have an ethereum based market too, so you don't have to use bitcoin at all there if you want. Why a bitcoin price prediction of $1 million isnt crazy interesting standpoint on Bitcoin, one that I would agree with.
McAfee is positioning himself as an expert with his predictions, but in reality I'm not sure how many of his predictions are research backed. I agree that BTC will not see such highs if fees stay the way they are, and the lightning network will not have any benefits if the fees for transacting BTC are not fixed.
McAffee's seriously doubling down with that prediction, lol. I think we could see 6 figures by next year, but I wouldn't bet my dick on it I gave you an easy way out of that bet. I don't approve of his life style either I think he's got a point.
Oh and I don't remember his anti-virus sucking when it first came out. He sold it pretty quickly. Even he has bashed and done videos bashing what the anti-virus became. I personally don't give a shit one way or the other about drugs. I don't do them. Yet I believe people should be able to do what they want why a bitcoin price prediction of $1 million isnt crazy their body and if it results in consequences then they are responsible for those consequences.
I don't drink alcohol either. For me drugs and alcohol are pretty much the same thing.
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It makes you money when the price goes down, and it loses you money when the price goes up. bir arayuze sahip ayr?ca mutlaka google authenticator ve pgp.