Quote from: Denker on November 09, 2016, 08:19:55 AM

Quote from: bamboylee on November 09, 2016, 08:02:52 AM

This can happen but not because of bitcoin having a high value but because america has fallen and dollar is very cheap. I do not believe bitcoin will reach $50K in our lifetime. Maybe in the far future, it can happen but we will all be long dead before that happen. I am already happy if ever bitcoin reaches 2K.

No you're wrong.
Bitcoin can reach 5 figures pretty easily without any inflation/hyperinflation of the global fiat currencies.
Just have a look at how much money is out there, distributed in several markets and industries.And most of them doesn't show real potential for growth anymore or are manipulated to hold their range and values.
Just let half a percent or one percent of all those markets flood into Bitcoin and crypto currencies and you will have a price in the 5 figures very fast.Take a bit of the metals markets, bonds, derivatives, real estate, property, foreign remittances etc.
Search a bit in the web and you will realize that 50k might sound crazy to you, but definitely is not unrealistic.And it could be reached in less than 3 decades.I don't know how old you are but I could still be alive then.

If the price of bitcoin shoots up to 5 figures, wouldn't people that had bitcoin earlier- people like satoshi nakamoto- be rich af? He has ~1mil bitcoins and if bitcoin goes up to 50k, then he would have $50,000,000,000...

What incentive is there for buyers to push bitcoin up that high? And how much would bread cost when that happens? Roll Eyes