$5000+ bitcoin? - page 2. | Bitcointalksearch.org

painlord2k

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Quote from: Bytas on May 17, 2014, 06:55:31 AM

Quote from: firstlast on May 19, 2013, 01:15:09 PM

5 thousand dollars isn't cool. You know what's cool? 5 million dollars.

Huh

5 million a coin is impossible, even if every single person on earth would instantly start using BTC.

GDP of the entire world: 71 Trillion.
Number of coins: 21 million -> value per coin: 3,4 million, enjoy

It is not an impossible quote.
Just think about Forex Market.
Falkvinge computed 1 M $/btc is the Forex market used bitcoin for 10% of the trade's volume (with 25% of BTC used and the other kept in reserve/hold).
If you make it 100%, it is around 10 M$/btc.

Trace Meyer just got 2.8 M $/btc if all usd in offshore accounts (fiscal heaven) are converted in BTC.

If you add the two together, you get 25% of BTC used for Forex exchange, 25% kept in tax heaves (something like it), 50% for everything else (in reserve in the pockets of companies and people and used for common transactions at the grocery stores and likes).
And this is just for 10 M $/BTC

bryant.coleman

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Quote from: Bytas on May 17, 2014, 06:55:31 AM

5 million a coin is impossible, even if every single person on earth would instantly start using BTC.

Agreed. If the exchange rate of one BTC crosses $5,000,000, then the USD will be having no more value than the toilet paper (it will become similar to the Zimbabwe Dollar). Grin

Bytas

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Quote from: firstlast on May 19, 2013, 01:15:09 PM

5 thousand dollars isn't cool. You know what's cool? 5 million dollars.

Huh

5 million a coin is impossible, even if every single person on earth would instantly start using BTC.

GDP of the entire world: 71 Trillion.
Number of coins: 21 million -> value per coin: 3,4 million, enjoy

painlord2k

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When the breakthru happen, the last two times, 30 days were enough to double the price.
So 900 in 30 days from now, if we break decisively over resistance at 455$

piramida

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Borsche

Quote from: Zangelbert Bingledack on May 22, 2013, 02:27:55 AM

Quote from: romerun on May 21, 2013, 08:05:59 PM

$5000 is a long shot. Judging from the price log scale, bitcoin will be 1000$ by the end of year. When do you think bitcoin will reach $1000 ?

September.

ZB, so close.

MNDan

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Rinse...repeat!

zimmah

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Quote from: mgio on June 13, 2013, 04:56:26 PM

$5000 will happen if bitcoin catches on. But it is likely years away. NO WAY will we see $5k by the end of this year. We won't even see $1k by the end of this year.

In fact, I'd be honestly surprised if we were at $200 at the end of this year. I think a reasonable high for the rest of this year is $160-$170 perhaps.

BitChick

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I am still optimistic and even more excited than I was in October!

Bitcoin is a fun "ride." Half the fun is just aticipating the next rally I believe. It is like waiting for Christmas morning.

realdos

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Looking back to this post, those days were full of joy and hope, mixed with doubt and fear.

BitchicksHusband

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Quote from: tinus42 on October 30, 2013, 06:16:21 PM

Quote from: BitChick on October 30, 2013, 05:20:42 PM

I am still optimistic! Maybe even more so now! Grin

It's only likely going to be a lot slower than these first 4 years. You should prepare to be in it for the long haul. Expect not to buy an apartment with your investment in BTC in 2017. See it as a long term savings.

I think the people arguing about technology S-curves are correct. Pretty soon it's going to go vertical. As soon as bitcoin funds show up for your 401k/IRA in the US, it's gonna skyrocket.

painlord2k

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Quote from: tinus42 on October 30, 2013, 06:16:21 PM

Quote from: BitChick on October 30, 2013, 05:20:42 PM

I am still optimistic! Maybe even more so now! Grin

It's only likely going to be a lot slower than these first 4 years. You should prepare to be in it for the long haul. Expect not to buy an apartment with your investment in BTC in 2017. See it as a long term savings.

What a lot of people undervalue is the inflation differential between bitcoin and the USD, € and the other currencies.
For example, this is the M0 money base of the USD

It is expanding like crazy like five times in 6 years (2008-2014) and probably will expand even faster.

Why keep your savings in devaluating USD when you can keep your savings in revaluating bitcoin, gold, silver, whatever?

As the price grow and the use of bitcoin increase, more and more people will find obvious to move from fiat and fiat denominated assets to commodities and bitcoin.
Who don't will lose and be lost. I suppose you know the partabe about the house built on sand and the house built on rock.
A lot of people will follow the example of the people investing in Bitcoin. They will do it after the first have positioned themselves and the second have lost a lot of purchasing power.
And when the second have lot a lot of purchasing power, the first will be there with a lot more purchasing power than before.
And the second will buy bitcoin from the first and will sell houses, shares, daughters, land (be careful with all of these because could be lousy deals).
And the first will become wealth and wealthier and the seconds will work for the first as it must be.

Cool

BitChick

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Quote from: 600watt on October 30, 2013, 06:26:26 PM

Quote from: tinus42 on October 30, 2013, 06:16:21 PM

Quote from: BitChick on October 30, 2013, 05:20:42 PM

I am still optimistic! Maybe even more so now! Grin

It's only likely going to be a lot slower than these first 4 years. You should prepare to be in it for the long haul. Expect not to buy an apartment with your investment in BTC in 2017. See it as a long term savings.

when deep pockets start pouring in money, when institutional investors start jumping in, when it hits mainstream and everyone wants to throw some money in - the expansion will not be slower. long haul is correct, but do expect to buy several apartments with your investment Grin

.
it has been estimated there are 340 k bitcoin holders currently but there are 12 mio millionaires in the world. so there´s p l e n t y of room.

We should dress like bulls for Halloween tomorrow. Grin

It is exciting times for sure. I think it will be like the Gold Rush pretty soon. Articles like the one just posted about someone forgetting their BTC and in a few years buying an apartment will only help fuel the fire.

Hubby and I are only putting in what we can afford to lose ALL of though. No mortgaging the house or anything. It is still a risky investment but I think it is less so than a year or two ago for sure. That seems fair enough to me. The risk takers get greater rewards.

600watt

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Quote from: tinus42 on October 30, 2013, 06:16:21 PM

Quote from: BitChick on October 30, 2013, 05:20:42 PM

I am still optimistic! Maybe even more so now! Grin

It's only likely going to be a lot slower than these first 4 years. You should prepare to be in it for the long haul. Expect not to buy an apartment with your investment in BTC in 2017. See it as a long term savings.

when deep pockets start pouring in money, when institutional investors start jumping in, when it hits mainstream and everyone wants to throw some money in - the expansion will not be slower. long haul is correct, but do expect to buy several apartments with your investment Grin

.
it has been estimated there are 340 k bitcoin holders currently but there are 12 mio millionaires in the world. so there´s p l e n t y of room.

tinus42

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Quote from: BitChick on October 30, 2013, 05:20:42 PM

I am still optimistic! Maybe even more so now! Grin

It's only likely going to be a lot slower than these first 4 years. You should prepare to be in it for the long haul. Expect not to buy an apartment with your investment in BTC in 2017. See it as a long term savings.

BitChick

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I am still optimistic! Maybe even more so now! Grin

realdos

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You could see how optimistic people were at that time...

BitChick

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Quote from: halfawake on June 27, 2013, 02:55:15 AM

Quote from: jubalix on June 26, 2013, 07:42:45 PM

its amazing that it takes 'geek' to be able to understand this and is a testament to how dumb-ed down the general population is, either that or we are underestmating them

It not that hard to keep BTC secured. Just priv key and address + some form or encryption eg truecrypt and your done.
if you you want cold gap's then signed transactions.

I have found electrum to be excellent so far...worry abit about the 128 bit seed/deterministic though, rather than the 256, or even 512 should be used imho

A lot of people just aren't that tech savvy. My parents would probably have a hard time understanding the concept of Bitcoin. It's not that they're dumb, they just aren't the least bit tech savvy. I doubt a lot of people even understand how the current banking system works, let alone this brand new one that is Bitcoin. It's pretty complex. I actually think Bitcoin is much less complex than the existing financial system, personally.

Hopefully there will come a day when people will be able to use bitcoin without even realizing the complexities behind how it works! Who knows, maybe some company will come along and have people investing in bitcoin for the purpose of transferring money without them even realizing it? They could provide all of the storage of the coins and transfers and the people using them would just be putting in fiat to get the service provided? Not really sure but it could potentially happen. I know it took years for my parents to even use Paypal and buy things on ebay. Finally they do now though. If someone provides an easy way for people to get money in and out of Bitcoin and makes a simple payment system, there is no stopping it. It could be more secure then other payment systems and there are many other benefits as already discussed repeatedly here on the forum. Hopefully the infrastructure comes soon. We need "Bitcoin for Dummies" to be put into action! Wink

halfawake

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Quote from: jubalix on June 26, 2013, 07:42:45 PM

its amazing that it takes 'geek' to be able to understand this and is a testament to how dumb-ed down the general population is, either that or we are underestmating them

It not that hard to keep BTC secured. Just priv key and address + some form or encryption eg truecrypt and your done.
if you you want cold gap's then signed transactions.

I have found electrum to be excellent so far...worry abit about the 128 bit seed/deterministic though, rather than the 256, or even 512 should be used imho

A lot of people just aren't that tech savvy. My parents would probably have a hard time understanding the concept of Bitcoin. It's not that they're dumb, they just aren't the least bit tech savvy. I doubt a lot of people even understand how the current banking system works, let alone this brand new one that is Bitcoin. It's pretty complex. I actually think Bitcoin is much less complex than the existing financial system, personally.

hl5460

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news.8btc.com

It could be nill...... Anyway, according to pirate bay's owner calculation, the range for BTC should be around 10,000USD-100,000USD>

BitBank

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transaction fees aren't a problem if more people start using off-blockchain transaction networks like coinbase and (soon to be) bitbanc Wink

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