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Topic: [2017-09-25] Forbes: Bitcoin: The Case For A $10,000 Coin (Read 3654 times)

legendary
Activity: 2310
Merit: 1422
@CarltonBanks
It's either this
Quote
Sadly, the majority of people just don't have enough courage (or monetary comprehension) to take Bitcoin seriously.
or the fact that Bitcoin is not user-friendly at the moment. I mean it's easy too download a wallet app and start from there. However, what I see is really scaring people away is the fact that THEY OWN the keys and they are afraid not to be able to recover them without a third party. (password recovery etc.)
The above is the saddest part  Roll Eyes
legendary
Activity: 1904
Merit: 1073
Although this is very important, as the price will increase a lot when this happens, what I really want to see is more and more merchants allowing people to buy goods with bitcoin. When both things happen there's no way bitcoin can be stopped, and it's price will not just go to $10.000, it will go far beyond that.

I think eventually Bitcoin will need economic crisis or collapse to really take a hold.

But we already have the test cases for that anyway. This very Press sub has seen Argentina, North Korea, Ukraine, Iceland, Venezuela, Zimbabwe, Greece etc regularly rolling through the 1st page over the years, with some news story about how dire economic conditions are forcing people to use and become familiar with Bitcoin. Sadly, the majority of people just don't have enough courage (or monetary comprehension) to take Bitcoin seriously. It's sad that it has to be this way, but desperation born out of desperate circumstances is a far more powerful motivator (and it's doubly sad, money is too basic a need and simultaneously too sophisticated a concept for people to take chances with, I find this particularly ironic).

I expect we could see Spain, Italy and Ireland begin to feature more prominently after some time (those states and their respective peoples have economic issues also), as well as perhaps Brazil. There will no doubt be some surprise entrants too, it wouldn't be Bitcoin without surprises.

People need some crisis to push them to do something. A lot of people are simply too busy to go out of their way to learn

something new. This is the typical excuses I get, when I talk to people about BTC : "Life is too buy to learn something new"

or "I am to old to learn something new" .... When people's wealth come under attack from Banks or governments, they

quickly run to learn something about Bitcoin to protect it.  Roll Eyes
legendary
Activity: 3108
Merit: 1531
yes
Bitcoin is the Better Story when it boils down to the concept of money. That and its resilient nature will keep people attracted to it and with ample growth still ahead in the field of cryptocurrencies, I consider $10,000 only a first stepping stone.

HODL and accumulate.
legendary
Activity: 3430
Merit: 3071
Although this is very important, as the price will increase a lot when this happens, what I really want to see is more and more merchants allowing people to buy goods with bitcoin. When both things happen there's no way bitcoin can be stopped, and it's price will not just go to $10.000, it will go far beyond that.

I think eventually Bitcoin will need economic crisis or collapse to really take a hold.

But we already have the test cases for that anyway. This very Press sub has seen Argentina, North Korea, Ukraine, Iceland, Venezuela, Zimbabwe, Greece etc regularly rolling through the 1st page over the years, with some news story about how dire economic conditions are forcing people to use and become familiar with Bitcoin. Sadly, the majority of people just don't have enough courage (or monetary comprehension) to take Bitcoin seriously. It's sad that it has to be this way, but desperation born out of desperate circumstances is a far more powerful motivator (and it's doubly sad, money is too basic a need and simultaneously too sophisticated a concept for people to take chances with, I find this particularly ironic).

I expect we could see Spain, Italy and Ireland begin to feature more prominently after some time (those states and their respective peoples have economic issues also), as well as perhaps Brazil. There will no doubt be some surprise entrants too, it wouldn't be Bitcoin without surprises.
legendary
Activity: 1582
Merit: 1059
Very interesting article indeed. I keep always hearing about the Wall Street money planning to move in to bitcoin in 2018, and it doesn't look like it's just rumors, everything points that way right now. Although this is very important, as the price will increase a lot when this happens, what I really want to see is more and more merchants allowing people to buy goods with bitcoin. When both things happen there's no way bitcoin can be stopped, and it's price will not just go to $10.000, it will go far beyond that.
legendary
Activity: 2436
Merit: 1561

Bitcoin: The Case For A $10,000 Coin

https://www.forbes.com/sites/forbesagencycouncil/2017/09/25/bitcoin-the-case-for-a-10000-coin/#7e28fd9b3918

Quote
You’ve probably read it on a multitude of news outlets, but the decentralized virtual currency Bitcoin is on a seemingly unstoppable tear, rising over 54% in value the first two weeks of August alone. As of late August, its value was at $4,625 per coin. Taking an even wider step back, Bitcoin has outperformed virtually all major asset classes, rising over 520% in a one-year period.

But is this staggering trend sustainable, or are we merely in a bubble? There are a number of drivers behind a doubling of the value of the currency – and I think there's a case for a $10,000 coin in our near future.
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