Quote from: thecodebear on Today at 02:05:37 AM

Quote from: posi on October 27, 2023, 10:31:30 AM

Quote from: komisariatku on October 26, 2023, 08:58:50 PM

Quote from: fokinlipat on October 23, 2023, 02:45:23 PM

How will it affect your life if bitcoin price comes to $1 million per bitcoin ?

Maybe now 1 btc = $1 million sounds like nonsense but in 2010 there might also be people talking nonsense that 1btc = $35k. It turns out that this has now become a reality

Imagine if that happened, maybe many people would become rich because bitcoin became very expensive. I hope I still have bitcoin when that price is reached. Bitcoin will become the most expensive asset and it is likely that bitcoin will already be accepted as a payment currency throughout the world. Maybe in 100 or 200 years, $1 million for 1btc will no longer be nonsense

If bitcoin can reach 1 million USD each then I'm pretty sure it will never be able to become a currency or payment method. Are you rich enough to use bitcoin for payments and pay a huge fee if 1btc = 1 million dollars? Furthermore, bitcoin is gradually becoming an asset and its path to becoming a currency is gradually closing. Some people won't like this but I think it's already happening, with the approval of ETFs, it's clear the world only sees bitcoin as an asset.
But I agree with you that bitcoin can touch 1 million USD in the future, it will take a lot of time but it can be achieved.

This is totally wrong. Big price of bitcoin does nothing to stop people from using it as a currency. If anything such a large price means Bitcoin probably IS being used as a currency, because it will be used as a currency once lots of people actually own it, so it won't start being used as a currency until it gets up to such prices. Also price doesn't affect the fee, if it did tx fees would be much more than the like dollar or less than a dollar that they are right now.

And not sure why you think bitcoin's path to being a currency is closing. That's a strange thing to say. ETFs have nothing to do with people using or not using Bitcoin to buy things. Even if one day a million bitcoin are held in ETFs, there's still another 20 million out there. That isn't something to worry about. Bitcoin will always be a currency. That's fundamentally what it is. Over time it will become more useful as a currency. The only reason it isn't used as a currency much yet is because adoption is nearly high enough yet. It's use as a currency will only grow with time.

Honestly, I also think that bitcoin's path to becoming a currency is gradually closing and it is unlikely to become a reality whether we want it or not. Looking at what's going on, it's clear that everyone sees it as an investment asset rather than a means of payment. Even as bitcoin becomes more popular and widely recognized, people will know and accept it as an investment rather than a currency. Not to mention, the biggest barrier is the government, they will never let a decentralized currency become popular. We should accept what is happening.