What is the currency of 1 bitcoin

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BITCOIN INFOGRAPHIC

So what is Bitcoin and how do they work? Who is a Bitcoin miner or what is Bitcoin mining? How is the Bitcoin investment market? This post tries to touch upon these questions in brief. For those who do not know about Bitcoinit is an electronic currency — not related or dependent on the currency of any country.

Further Information Bitcoin — US-Dollar

If you cut the information inside computers into smaller pieces, you will find 1s and 0s. These are called bits. You already know about coins. Bitcoins are just the plural of Bitcoin. They are coins stored in computers. They are not physical and only exist in the digital world!

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At what price and at what market capitalisation Bitcoin will be a true currency substitute? There are a number of forecasts that see the Bitcoin at 1 million and. I tried to analyze this value from a purely macro-economic perspective. And by now I come to the same result of USD 1 million. Rather the value of the Bitcoin will be even higher, because many Bitcoins are already lost.

In the end, there might be 16 or 17 million bitcoins that can be used. In the following line, I will briefly present my insights to you and invite you to discuss When does a currency become a currency? We see three main currencies currently. Dollar wants to remain the leading currency.

Euro wants to become an alternative. Of course there are other important currencies. But I will leave them for. The first question is. Which smallest unit does a currency need? In the case of the dollar and the what is the currency of 1 bitcoinit is Cent. At RMB it is a Fen. Especially for currencies with similar values, the «psychological exchange» is quite easier. Since we can imagine the value better.

Question. How high would the value of a Bitcoin or a Satoshi have to be, so that we can deal with it well? By th way. It is important that we focus on the usability of Bitcoin and not on the Bitcoin price. Only from a high market capitalization on is there a real usability. And this market capitalisation should be at least at 1 million, otherwise Bitcoin would maybe remain a speculative object and would not become a real currency.

From today’s point of view this is just 21 times the market capitalization of Apple or Amazon. For comparison, the market capitalization of the largest companies worldwide is currently around 15 trillion, perhaps even. The current global debt level is around trillion.

US national debt around By the end of at the latest, many countries will have to put the financing of large parts of their national debt on a new basis. Conclusion: Macro-economically, Bitcoin can become a real alternative currency. Requirement the price rises. What «technical» law speaks for it? There are some who doubt the following approach, but I think it makes sense to discuss Moore’s Law.

Moore’s Law says that the technical performance of computers is growing exponentially. More specifically, the number of transistors in new processors doubles every 12 to 18 months.

Moore’s Law can be applied to all digital technologies. The Bitcoin price can also be modelled with Moore’s Law or exponential growth.

However, the Bitcoin price is growing even faster than the performance of computers. For Bitcointhe price has even doubled every five to eight months to its peak at 20, USD. The starting point for the forecast was chosen when the Bitcoin cost more than 10 dollars for the first time.

Based on the forecast, a Bitcoin will reach one million dollars by at the latest. I think that 1 million is also the limit around that the price will oscillate at the end. What are the costs for producing a Bitcoin? Current estimates assume that the production of a Bitcoin will cost arounddollars in Another aspect that speaks for a rising price.

The probability that Bitcoin will go against zero is very risky. Because only that would be the actual alternative. Look at my red lines in the Chart. How high is the probability that Bitcoin will follow a course along the red dotted lines? The entire crypto market must collapse. For this case the market is already too large. I am writing this because many people compare the crypto market with the tulip market hundreds of years ago. The cryptomarket is no longer a closed. It is a global phenomenon with market power.

Will the whole banking system change? The landscape of banking, lending and payments will change radically. The most experts now agree on. Paper money will be an obsolete model for the coming decades.

What remains are real values such as real estate, gold and silver and other commodities and, on the other hand, digital currencies, which are instruments of value «transport». More than 7. The world’s population is growing by overpeople a day. Every year, the population of the earth increases by more than 80 million. According to the German Foundation for World Population, this corresponds roughly to the population of Germany.

This fact alone, that billions of people will soon be able to trade with Bitcoin worldwide, changes the perspective on banking and the Bitcoinmillion-dollars-Forecast-Idea. Your opinion? Also have a look at these charts: Dec 10, May Jul Aug Oct Before the two halvings at the end of anda bottom formation was observed twelve months before the date.

This also seems to be the case. Nov Dec Trading experience for over thirty years. There is only one way! Pivot support! Trendline support!

Close up. BTC been following since So you still feel we will hit 25k by EOY? Ginossimhard to say. I appreciate your analysis. Have some scientific background and you point on serious important factors. I think this is gonna happen, in whole cryptocurrencies market, not necessarily BTC. It may not be the market’s leader in long future. Another important fact is that scientifically this is not stable to see very fluctuating currencies.

So if you wanna see BTC or other cryptos as a common exchange you need lower volatility. Also the technological progress in 10 years may affect cryptos price by shifting this projection. I follow the BTC in short and medium terms. This is my chart on it, trying to track it and find the time when we may see the next upward.

Went through this post. And you are wrong on every prediction. Good Luck Trading bro. TradingandNewsat the end of the show, we’ll see what the bitcoin’s price will be — maybe in 5 years. Mailinyes thats what is the currency of 1 bitcoin. Mailin btcinvests.

HOW TO BUY BITCOIN 2019 — Easy Ways to Invest In Cryptocurrency For Beginners!

1. What is Bitcoin?

Retrieved 24 February Archived from the original on 15 October New York: St. Lovink, Geert ed. What is unique about bitcoin production is that unlike other produced goods, bitcoin’s algorithm only allows for one block of bitcoins to be found, on average, once every ten minutes. Archived from the original on 2 May crurency Daily Tech. Gox suspends deposits».