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RE: How long before you are a bitcoin millionaire? This nifty table tells you exactly what date. (Updated today when bitcoin was at $7000)
This is by far the highest prediction that i've seen. It's achievable if the entire market can maintain it's exponential growth. However, what i'm not sure is, if this pace is healthy for the economy or for the cryptomarket writ large.
Here is what I think the problem is: Inflow of money into cryptocurrencies gets more difficult.
If the total market is 10T then to keep pace the time to reach 20T has to be the same rate as when it went from 5T to 10T. Right?
Regardless, I think everyone should HODL at least 1 BTC if they can in their portfolio at all times.
Your idea is correct. If the previou rate of return - as achieved in 2017 so far - is made in perpetuity, it takes as long to go from $10t to $20t, as it does from $5t to $10t. The $10 million price in 2020 won’t be achied unless the $ is falling fast or becomes worhthless Zimbabwe style.
There is no shortage of people who think that is likely, but there are more who think it will just carry on.
With less than 1 in 800 adults owning any bitcoin, there is plenty of room to maintain the price growth. When 90% of the population own bitcoin it won’t be able to grow at the same pace. I think we are good for a year or so, then the pace of growth will slow. Along the way we will have our 30%, 50% or 70% crashes which will shake out doubters.
Yep, that's right @kryptonaut