We occasionally see in the media $1 Million predictions for Bitcoin. They are often taken with a pinch of salt and frequently rebuffed with "Yeah rights!" and laughed at. Until recently I have been in the: 'Not in my lifetime camp' but matters are changing and rapidly so! Two reasons why I believe Bitcoin will hit the million mark and sooner than you may think:
The first is based on Technical Analysis (see chart) and to be honest the growth looks perfectly feasible. No ramps or pumps just a normal asset class growing and not even at a pace that would be considered out of the normal! Just look. By 2029 Bitcoin will have crossed the million mark. I would go even further and say it's guaranteed unless something really terrifying kills Bitcoin like artificial intelligence cracking cryptography. This is a serious threat. We have already been forewarned by hundreds of leading corporates, scientists and academics about the potential threat of Artificial Intelligence but specifically with regards to Cryptography (To see the premise jump to 18.49, to understand the premise watch the whole video):
https://www.youtube.com/watch?v=Z6E41eXStsU
The second case involves looking around at the human landscape and seeing what is evolving. Everything is becoming digital - Everything. The way we learn, communicate, transact, records, media... Everything, and of-course money.
To start on a basic point let's look at Bitcoin's supply:
Total number of Bitcoin ever to be mined: 21,000,000
1 Bitcoin = 100,000,000 Satoshis
Remaining Bitcoin to be mined: < 1,500,000
Daily mined supply: 900
Average Daily Coinbase Volume: 10,000
(Reference: buybitcoinworldwide....-bitcoins-are-there/)
As Bitcoin is becoming more and more accepted/trusted by Countries, Governing bodies, Financial Houses, Corporates and Retail Consumers demand will rise. This acceptance not only covers the legitimacy and the use of Bitcoin as a Global Currency but also its value as a store of wealth, it has truly become Digital Gold. Currently we have US Spot ETF applications by major institutions in the pipeline, a couple of wars, a looming housing and economic collapse and so on, bottom line? The Demand is there but The Supply is becoming very short!
By 2029 mankind will have been to Mars. (Reference: www.space.com/spacex...astronauts-mars-2024) We will become an inter-planetary species. Space launches are now so common you don't even hear about them in the main media. Ok so I've jumped to a rather larger point here(!) but the technology to achieve this and a myriad of other innovations coming on-line (Artifical Intelligence, Robotics, Frequent Reusable Space Flight, Medical Advances etc.) are utilising Blockchain Technology and of-course those brave pioneering souls who make that one way trip to Mars (or elsewhere) will need to be paid. I can't see Elon Musk hauling Gold or Dollars to Mars to pay the colony! I suppose they could just take a printer and ...😜
Satoshi's Numbers:
Satoshi was an academic and developed Bitcoin as a consensus network that enabled a new payment system and a completely new form of immutable digital money (virtual currency) . It was the first decentralized peer-to-peer payment network that is powered by its users that has no central authority or middlemen. Ok this we know and that Satoshi published his white paper back in Oct 2008. Having had the conceptual phase and completed the academic/mathematical side, Satoshi would need numbers to plug in to see how it all looked. What I find amazing here and there is absolutely no form of proof to suggest why this is other than my imagination but at this point, if you assume that 1 Satoshi was equal to 1 Cent then Bitcoin would equal $1 Million!
The first is based on Technical Analysis (see chart) and to be honest the growth looks perfectly feasible. No ramps or pumps just a normal asset class growing and not even at a pace that would be considered out of the normal! Just look. By 2029 Bitcoin will have crossed the million mark. I would go even further and say it's guaranteed unless something really terrifying kills Bitcoin like artificial intelligence cracking cryptography. This is a serious threat. We have already been forewarned by hundreds of leading corporates, scientists and academics about the potential threat of Artificial Intelligence but specifically with regards to Cryptography (To see the premise jump to 18.49, to understand the premise watch the whole video):
https://www.youtube.com/watch?v=Z6E41eXStsU
The second case involves looking around at the human landscape and seeing what is evolving. Everything is becoming digital - Everything. The way we learn, communicate, transact, records, media... Everything, and of-course money.
To start on a basic point let's look at Bitcoin's supply:
Total number of Bitcoin ever to be mined: 21,000,000
1 Bitcoin = 100,000,000 Satoshis
Remaining Bitcoin to be mined: < 1,500,000
Daily mined supply: 900
Average Daily Coinbase Volume: 10,000
(Reference: buybitcoinworldwide....-bitcoins-are-there/)
As Bitcoin is becoming more and more accepted/trusted by Countries, Governing bodies, Financial Houses, Corporates and Retail Consumers demand will rise. This acceptance not only covers the legitimacy and the use of Bitcoin as a Global Currency but also its value as a store of wealth, it has truly become Digital Gold. Currently we have US Spot ETF applications by major institutions in the pipeline, a couple of wars, a looming housing and economic collapse and so on, bottom line? The Demand is there but The Supply is becoming very short!
By 2029 mankind will have been to Mars. (Reference: www.space.com/spacex...astronauts-mars-2024) We will become an inter-planetary species. Space launches are now so common you don't even hear about them in the main media. Ok so I've jumped to a rather larger point here(!) but the technology to achieve this and a myriad of other innovations coming on-line (Artifical Intelligence, Robotics, Frequent Reusable Space Flight, Medical Advances etc.) are utilising Blockchain Technology and of-course those brave pioneering souls who make that one way trip to Mars (or elsewhere) will need to be paid. I can't see Elon Musk hauling Gold or Dollars to Mars to pay the colony! I suppose they could just take a printer and ...😜
Satoshi's Numbers:
Satoshi was an academic and developed Bitcoin as a consensus network that enabled a new payment system and a completely new form of immutable digital money (virtual currency) . It was the first decentralized peer-to-peer payment network that is powered by its users that has no central authority or middlemen. Ok this we know and that Satoshi published his white paper back in Oct 2008. Having had the conceptual phase and completed the academic/mathematical side, Satoshi would need numbers to plug in to see how it all looked. What I find amazing here and there is absolutely no form of proof to suggest why this is other than my imagination but at this point, if you assume that 1 Satoshi was equal to 1 Cent then Bitcoin would equal $1 Million!