I've read a lot of articles about people claiming bitcoin will be worth millions in the future, for example John mcAfee recently said bitcoin will be 500K in 3 years.
Now, imagine if this was true, and it was in fact 500K/BTC. The total market cap would then be 10.500.000.000.000, or about 10 trillion dollars. This is an unbelievable and unachievable amount of money. Even if we ignore the market caps, imagine how many people would become rich? Millions would become millionairs, hundreds would become billionaires, all in a matter of 3 years. This would cripple the global economy as we know it.
My best guess is that, in 10 years, bitcoin might be around it's absolute peak of 30K, giving it a total market cap of about 630.000.000.000$, or 630 billion. The total market cap of cryptos would then be around 2 trillion if the some of the better alts gain more traction. I believe this is fairly realistic. This means BTC would have to rise with around 7 - 8$ a day.
Edited
The economy would not be crippled. How would you change the btc into fiat?
What bank will let you deposit more than $10,000 without freezing your account?
Don't be silly brother, the reason why the governments around the world aren't to worried about bitcoin, is because for now, it is internet play money.
Sure bitcoin is the future, but without further guidance and regulation, how many of us will be left in the cold when it's time to cashout? You can move small amounts into different accounts, and credit unions, but thats structuring , which is illegal. I guess it depends on which country your from.
But lets be real, how would you legally cash out on $1,000,000 worth of coins? Because I certainly would like to know!
You don't get it. If Bitcoin ever becomes so big, that it's worth $100k/coin, you will not need to cash out. Bitcoin will become the de-facto currency. Your local grocery store is gonna be taking payments in Bitcoin. Your salary will be credited in Bitcoin. Fiat will be relegated to play money.