If Bitcoin Reaches $1 Million USD...?

in bitcoin •  18 days ago

Many have gotten rather excited with the prospect - introduced by various long-term price projections - of Bitcoin reaching a value of $1,000,000 USD.

However, accompanying several of these projections - whether directly or consequent of the core economic dynamics validating the possibility - is also the presupposition/prediction that the US dollar will experience a crash.

Thus, while a numerical valuation of one million dollars sounds great at this point - from our current frame of reference with the USD valuation where it’s at now - the reality of such an outcome might not be as potentially worthy of salivating over, in consideration that $1,000,000 then might not be nearly as high of a figure as it is now, given the reduced purchasing power of the USD...



For example:

Let’s say there is a crash of the US economy, and the USD loses 90% of its value...

Today, we might be dreaming of buying our Lambo and dream home when BTC hits a million. But, when/if that time comes, one BTC will only actually be the equivalent of $10,000 in today’s money.

So, what really are we getting so excited about...?

And sure enough, there’s also the possibility that the USD could crash even harder, losing, for example, 99% of its value. In such a case, one Bitcoin worth $1,000,000 would only actually be worth the equivalent of $1000 in today’s money. And considering that BTC is priced at $6400 now, that’d be an even worse outcome - regardless of the allure of the “one million dollars” prospect.



Moral of the story?

I dunno.

Maybe it’s that we shouldn’t be too quick to think that investing in crypto - even if it is destined to ascend in financial-economic dominance and value - is going to be our easy road to riches.

That even if we do end up profiting, it might be nowhere near as much as our egos hope.

And that in spite of that very-feasible possibility, it remains ever-important to keep focused in service - not expecting our riches to come by sitting on our asses while market forces do the work, but continuing expanding our own capacities for creating value- persisting in investing our time and energy into growing the foundations of true wealth: the purpose, passion, talent, knowledge, contacts, and character with which we may leverage our & others’ efforts to immunize ourselves against economic fluctuations through the capability to create opportunity no matter the weather.

(Though should our crypto investments moon such that we may all retire and buy Lambos soon, that’s perfectly welcome and cool, too. 😎)

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Lol Bruv the closing statement nailed it for me. Have so many doubts in my mind but I just feel there is no harm in telling myself it will work and I will have some actual money someday. More like it has to anyway... I believe in the technology and quite frankly, am way too invested and running desperate financially right now.

Hey @roksivante I heard if you upvote yourself before the 15 minute mark now, it gets returned to the reward pool during payouts. Just a little heads up

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What...?

Thanks for the heads up!

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I think I'll stick with those last two paragraphs of your reflection, @rok-sivante. Before dreaming that money will fall from the sky, I'd better get to work. I don't have Bitcoim! But if the bitcoim increases its price, I'll regret not having bought at the time! :(

I think it's more real to know what money I can make working, than waiting for a stock market movement that may never come. If a lot of people thought ahead about getting rich, I think nobody would work or do anything, and there would be a lot of disappointed people.

You are making a mistake in your thinking, you are still calculating back to the dollar when the $$ crashes. And you should not do this. the big crypto’s like bitcoin will be a safe haven, after a crash, and when bitcoin is still king by then. The demand will be so high that the sat prices will skyrocket ... because theres only a couple of million supply, for billions of people, and trillions of money.

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I have dollars, not bitcoin, so I would lose a lot if the dollar goes down and the bitcoin goes up. I prefer to think about more immediate things. If I think a lot about the future, I'll stop seeing the present.

Dear @rok-sivante sir!
It would be just like a daydream when Bitcoin reaches 1 million American Dollar. In such a situation, you will become a billionaire(don't take seriously sir) with you and many people will also become a billionaire. The US will have to bear huge economic losses, face the economic slowdown.
If we look at the other perspective, it will take decade to reach this position and if the price of bitcoin increases, then the value of the US dollar will increase equally. For example, the price of inflation is likely to be in the next 10 years, its four Increase six times more inflation. If the price of bitcoin increases, then the price of the US dollar will not be stable, that too will increase accordingly. This is my own opinion sir.
Regards

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In such a situation, you will become a billionaire

I wish I had 1000 BTC sitting in my wallet(s)...

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Laborious is rewarded sir. 💰💰

Sir,You have written very well, it is just a matter of understanding but you have done it very accurately and accurately.

Since when is 10% of a million only 10.000? Lazy article!

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Good catch. Lazy comment.

the penny satoshi ;-p

Such possibilities about bittoine actually amazed.Actually amazed.
I wish I had a bitcoin, But I am trying to mobilize it

hehe, nice perspective.