How to Get to $1 Million Per Bitcoin
I have been around Bitcoin and cryptocurrency for a good while now, but only until recently has this idea of Bitcoin hitting $1 Million Dollars made sense to me. Now it isn't because all these analyst and gurus are saying it, but because it seems that the whole cryptocurrency ecosystem is beginning to accept this idea.
Several years back, mainstream media would not even mention Bitcoin or cryptocurrency. Fast forward to 2019, and now you have mainstream investor news sites explaining how to buy Bitcoin, and interviewing Billionaire Cryptocurrency investors like Michael Novogratz.
Now the next phase seems to be getting Bitcoin and Satoshis into everyday conversation. Facebook has now put cryptocurrency on notice the World over, giving even the most ardent of Crypto naysayers pause to consider. In fact, the World over is now searching Bitcoin even more now on Google per Google Trends. Not quite as many searches as during 2017's massive Bull Run, but should Bitcoin get closer to its all time high again, that could change substantially since now Facebook has piqued the World's curiosity for all things crypto, especially Bitcoin.
Bitcoin is going mainstream globally, and more and more people are starting to talk about Bitcoin and how it works. Many are now coming to learn that Bitcoin is divisible into 100 Million units or smaller pieces of Bitcoin known or called Satoshis, in honor of the Bitcoin founding father, Satoshi Nakamoto. In fact, I now hear and see people talking about trading other crypto-coins based on the price per Satoshi. I have seen articles on Steem price mentioning how Steem was at an all time low in Satoshis, not Dollars. When I asked a friend about an investment in Pundi X, he replied by stating how many Satoshis he paid for it and how many Satoshis he was profiting, when I was expecting an answer in Dollars.
That is when the idea hit me, that maybe Satoshi even envisioned the day when a Bitcoin would be worth $1 Million US Dollars. In fact, he probably designed it that way because 100 Satoshis being equal to 100 U.S. cents, or $1 US dollar would then make 1 whole Bitcoin worth $1 Million US Dollars. If Bitcoin once again hits $20,000, then next year's prediction of $100,000 per Bitcoin will really start to look realistic with $1 Million becoming more and more a reality.
What does this mean for other crypto-currencies?
What does it mean for Steem?
In my opinion, Bitcoin will become the Gold Standard, and will be used to transact such as in purchases and trades. Yet, I believe that like Gold, it will become more of a Wealth Reserve while the rest of the cryptos are what the World uses on the daily. Although not all cryptos will survive, the ones that have strong community, participation and development will be the ones that make it. Steem is one of these, that's for sure. I mean, look at Dogecoin. Not to bash on Dogecoin but simply comparing it to Steem and its strong community will insure Steem's success, just like the Dogecoin community has insured theirs.
As they say in the Dogecoin Community.... To the Moon!
You're right, the issue of cryptocurrencies has become more popular, before there was not much talk about that, especially here in Venezuela, that topic has become popular since last year because Venezuelans are us looking for extra income for the situation for which we went through, but in previous years only some people knew about it, of course, with the launch of Facebook now, the subject will be even better known and... Bitcoin seems a bit difficult to obtain, unless an investment is made.
you should use palnet in your labels ...
I believe many people especially those in Venezuela can better their lives through crypto. And yes I am working on getting on Palnet, thank you for reminding me.
Take care.
I think that’s the level we should be aiming for and why things like the lightening network and new second layer protocols are going to be so important! Once we are able to effectively scale to a point where the chain can handle hundreds of thousands a of transactions every minute we will see people trading more regularly and that means holding more currency! Once that happens price keeps pumping and if we can reach the millions dollar mark the volitity will be such small swings that it can be seen as a stable trading currency!
I think the satoshi at $0.01 is where we will end up eventually! And that would create a knock on effect for so many alts!
Once ETH also cracks its scaling issues and we can have ScalAble DOA who knows where this will take us as a people
Combining it with AI and IOT and speedy microtransactiosn is so incredibly disruptive that once it takes hold nothing will stop it until a new disruption in tech comes along
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Thanks for your input @chekohler The future bodes oh so well for crypto and those involved.
Whats behind this rise? Libra? And also Steem is not going directly with Bitcoin. What does Steem need to rise much more?
The best cure of all, TIME @oracle-tasks . I think right now all the speculation is no Bitcoin, especially since the mainstream media is now hyping on Bitcoin. I think Bitcoin price will continue to rise, and it will pull the alts with it like the last time.
Although history doesn't always repeat, it does tend to rhyme... so I feel that this time the delay in the alts rising is normal and will come later as it did in 2017/2018.
Banks knows that crypto is going to be the next big thing. So they are putting there money in cryptos I love bitcoin...
I am your post upvote resteemit don
Thanks @kretorkk
welcome to my blog
Makes perfect sense to me and I am positioning for just that eventuality. The US is going to have to adopt blockchain tech and crypto mainstream or be left in the dust.
STEEM is pretty cheap in satoshis, just bought a little bag this morning!
hehehe, nice move!
Makes perfect sense to me and I am positioning for just that eventuality. The US is going to have to adopt blockchain tech and crypto mainstream or be left in the dust.
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Crypto to the moon and beyond this time : )
Buenas querido amigo como esta,mi saludo y respeto,le deseo todo lo mejor que la vida pueda dar,gracias por ser conmigo como es,se lo agradezco enormemente,feliz noche
And interesting theory and one I hope is right mY main holding is Steem so I say Steem to the moon :)