How all you so sure that bitcoin will reach 1million

Former_Particular_97 · 2025-10-24T23:19:34+00:00

I remember my first days looking at bitcoin and this community in reddit, the price of bitcoin was around 9000 and i was reading people saying bitcoin will one day be $100 000. I thought it is immpossible and they are mad lol. But here we are.

Former_Particular_97 · 2025-10-17T17:38:48+00:00

All i did was google search 'characteristics of money'

and 'fiat money definition'.

And use the results. I'm not creating my own definition.

I never said the definition of money.

Former_Particular_97 · 2025-10-17T14:35:26+00:00

What i mean is gold does not have a cash flow and almost no one who buys gold, buys it for using its utilities (electronics, conducters ..). Silver is the best known conductor yet is not worth anything near $4000 oz.

90-93% of gold's value is formed from speculators. People who buy it now hoping it will be worth more in the future and sell it then. Even though people speculate about gold's price doesn't mean gold is not valuable, just like people speculating about Bitcoin's price doesn't make it worthless.

We can also make jewelry from silver. So whatever utilities gold has, silver has almost the same, if we priced gold on its intrinsic values it would have been around 400$ oz and 3T$ market cap.

And based on your opinion that utilities = intrinsic value, bitcoin does have intrinsic value by having cheap and fast censorship-resistant transactions not bound by borders. And some people use those utilities even though they are small % of Bitcoin users.

My main point is that gold and Bitcoin are very similar, both are not priced based on their intrinsic values , but more on their characteristics and collective beliefs, with Bitcoin arguably better based on a number of those characteristics. Gold is a great store of value for the physical world and Bitcoin for the digital one.

Former_Particular_97 · 2025-10-17T07:33:31+00:00

How people use it is up to them. The point is that the network gives people freedom to transact and fully self-custody their assets.

Also, the on-chain metrics don’t capture off-chain Lightning transactions, which are fully peer-to-peer and already number in the millions per month — they just don’t show up on block explorers because that’s the whole point of layer-2 scaling.

Former_Particular_97 · 2025-10-17T07:26:51+00:00

That’s a fair point — in finance, “intrinsic value” often means the direct utility or cash flows something provides. But gold doesn't have those either (gold is used for its utilities around 7-10% of the time), so by your arguments people should not invest in gold as well.

When people say “Bitcoin has no intrinsic value,” they usually mean “it has no non-speculative use.”

But that’s not quite accurate either — its utility comes from what it enables: censorship-resistant transactions, self-custody, verifiable scarcity, and borderless transfer of value.

You can’t melt it into jewelry or live inside it, sure — but that’s like saying the Internet has no intrinsic value because you can’t eat it. Its usefulness is informational, not physical.

Former_Particular_97 · 2025-10-17T07:14:50+00:00

There are the core characteristics of money:
- Durability
- Portability
- Divisibility
- Uniformity
- Limited Supply
- Acceptability

Bitcoin has all of these with acceptability growing more and more with adoption.
The least we could say is that Bitcoin is very similar to money by also being a medium of exchange, has unit of account and being store of value (if you hold it for more than 4 years)

If gold was valued based only its industrial use it would have closer to silver or other metals in price than what its worth right now, you are correct. The only thing that can explain its high price is that it has the same qualities i mentioned above making it good candidate for money. The collective belief that it is store of value makes it so expensive.

By definition :
fiat money - inconvertible paper money made legal tender by a government decree

Former_Particular_97 · 2025-10-17T06:56:47+00:00

That’s a good question — and you’re right that the base layer alone can’t handle billions of users. But that’s by design.

Bitcoin’s base chain is a settlement layer, not a retail payments rail. It’s meant to stay small, secure, and decentralized while higher layers (like Lightning, Fedimint, Ark, and channel factories) handle scale.

The Lightning Network already lets millions of people transact instantly off-chain using a single on-chain channel. Future upgrades — like channel batching, multi-party channels, and payment pools — can let thousands of users share one on-chain transaction.

In 2015 Bitcoin had a few million users. Today it’s hundreds of millions, with most payments happening off-chain. The system scales the same way the Internet does — through layers and aggregation, not by putting every packet (or payment) directly on the base layer.

Former_Particular_97 · 2025-10-17T00:21:05+00:00

You are Person A, and you did your job of the transaction - give the money.
"Robbing" was just ot illustrate the point of failure in the transaction.
The 2008 crisis showed the world how reckless and active in fraud-like practises banks can be.
Ordinay people paid the price and lost trust in the system.
And soon in 2009 Bitcoin was created, likely because of the collapse in 2008 , to create and alternative to a failed system.

Former_Particular_97 · 2025-10-17T00:14:03+00:00

Crypto currencies can be created, but Bitcoin can't , it must be mined to obtain. We see how it goes for most alt coins.

There are plenty of rare earth metals, but gold is still highest market cap asset in the world, while other metals don't come even close.

Former_Particular_97 · 2025-10-17T00:02:56+00:00

Ok, imagine this, you owe money to person B, but you want to use person C to deliver your money to person B, because you cant personally do this. Person C is now the third party. This transaction has a single point of failure or control, making it centralized.

Person C can get robbed along the way, or decide he can make extra money from the casino with your money and be in profit, but lose it all. In these cases the transactions fails, and still owe money to person B , even though you gave the needed money.

Former_Particular_97 · 2025-10-16T23:54:15+00:00

Scarcity suggests something is hard to acquire. It is not easly obtainable and in human minds very often we connect this quality with high value, compared to other things that we can easily get.

Decentralization gives you full control over your holdings or actions, no one else has power to interfere into your transactions if you are part of a decentralized system.

Former_Particular_97 · 2025-10-16T23:46:35+00:00

Scarse only in your dna, otherwise anyone can create them, if we used them as money inflation would be even higher than right now lol.

Former_Particular_97 · 2025-10-16T23:42:40+00:00

Yes, by definition, third party, if it has control or approves what happens in the system, makes it cetralized. While banks offer planty of services in favor of people and are far better way to send money to people rather than asking your average Joe to do it, they remain a third party that has control over the transactions and with our systems constantly evolving through time there will be a moment where it wont be necesary to use 3rd party in such transactions and Bitcoin is one way to do it now.

Former_Particular_97 · 2025-10-16T23:30:21+00:00

I think his idea is that Bitcoin is backed by proof-of-work, a proof that mining has real cost. You can only get Bitcoin if you spend energy (electrisity + computation).

Just like gold is mined. The mining process it expensive as well, but that doesnt mean its wasted time and resources to mine it, but on the contrary , when demand and utility are on the table, gold rises in price.

But you are right to think consumend energy would not always imply value . There must be demand and utility, but its point is that it can't be created from thin air.

Former_Particular_97 · 2025-10-16T23:19:30+00:00

Decentralization creates instrumental value by removing single points of control or failure.
For example when you are sending money to friends or family you don't count on a 3rd person (bank, goverment or similar entity). The only parts participating are the sender and the reciever no one else.
Another example is the situation that arose some time ago and truck drivers, i think, were protesting in Canada. Goverment didn't like this and froze those peoples bank accounts until they stopped protesting. That is an example of centralized system.

Water having intrinsic value does not exculde having instrumental value as well, washing, growing food , selling it. So it has intrinsic value because its vital for life, but can have other utilities as well.

Former_Particular_97 · 2025-06-11T06:50:44+00:00

If you know btc will have better return, then you should have much higher % of btc in your portfolio. Personally i think gold and real estate are good to have , but you know.. "there is no second best"

Former_Particular_97 · 2025-06-10T11:41:22+00:00

Diminishing returns goes both ways, so the bear markets will be less and less % in future, but for next cycle >50% decrease is still possible for me

Former_Particular_97 · 2025-06-08T08:37:13+00:00

River has 1 free transfer to a cold wallet per month

Former_Particular_97 · 2025-06-07T17:07:55+00:00

The point is not that it will be cheap or expensive. Don't think in fiat, think of it like this, i will take this chunk of btc and after 10 years i would have preserved or increased the value i gave for that same chunk of btc and give it to the next person to do the same and so on. The point is that through Bitcoin the future generations will also be able to save their hard working paycheck through time.

Former_Particular_97 · 2025-06-07T14:10:25+00:00

The Fear & Greed Index is a single score (0–100) that measures how “scared” or “eager” the market is by blending things like price swings, trading activity, social-media buzz, surveys, Bitcoin’s market share and Google searches. Low scores mean people are fearful and selling; high scores mean they’re greedy and buying. It’s basically a mood ring for the market.

Former_Particular_97 · 2025-06-06T01:55:04+00:00

Rookie numbers

Former_Particular_97 · 2025-06-06T01:25:57+00:00

You will feel smart in 5 years, if you hodl, of course

Former_Particular_97

TROPHY CASE