A Single Bitcoin will Worth $100K - Do You Believe it? - page 7.

ranlo

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Quote from: zimmah on May 18, 2014, 05:30:41 AM

Still far easier than trying to get an altcoin accepted by the mainstream. And once that new altcoin becomes outdated repeat the whole process again with yet another altcoin. And with mainstream I also mean venture capital, big industries (both online and offline), a lot of small industries, your local supermarket, etc.

Simply not gunna happen.

There's a reason coin map only shows the location of physical shops that accept bitcoin and lite coin. Because these are the two original coins and even lite coin does not come close to bitcoin.

After a few years there will most likely not be many Altcoins to begin with

If someone can find a way to really tie in the coins together, I think that could help though. For example, allow people to buy services or items using *any* currency and have it automatically calculate the cost (I guess based on exchanges or something). I haven't fully thought through the idea yet but I am sure there are things people can come up with to help bring the coins, as a whole, closer together.

I do agree that it's going to be a long journey though!

Robert Paulson

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It will probably happen.
the only problem is that when it happens its likely that 100,000$ will only buy you a loaf of bread.

K128kevin2

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I think that if bitcoin became the most used currency in the world it is possible that one bitcoin's value would be somewhere around there. I think that if this were to happen, however, it wouldn't be for at least like 10 ish years.

Alley

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Market cap would be over a trillion. Not inconceivable several years down the road.

Torque

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Quote from: xux99 on May 17, 2014, 03:26:12 PM

BitCoin will never probably go that high as it will face competition from newer better altcoins. The total market capitalization of all cryptocoins is expected to increase exponentially but BitCoin's share will gradually decrease.

And you base this assumption on what proof? What evidence exactly? Oh wait..

(Oh and btw, Bitcoin is completely programmable, constantly being evolved, and can incorporate new features, including those of any alt coin, at any time in the future. Making said alt coin obsolete. And.. "Shhh! Be quiet! Don't tell him that, we don't want that secret to get out!"... oh ok)

T.Stuart

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One Token to Move Anything Anywhere

Quote from: sgbett on May 18, 2014, 12:16:56 PM

When it becomes obvious to everyone that they should really buy some, then they will. At which point it will become obvious to everyone that they should really buy some...

sgbett

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Quote from: piramida on May 18, 2014, 09:12:35 AM

Quote from: PolarPoint on May 16, 2014, 06:38:40 PM

Before it reaches $100k, most people would have sold it all. That will just leave a minority group holding lots of bitcoin. Less people use bitcoin to transact, it becomes useless.

Yes right, come up with a stupid premise and build silly deductions on top of that great! Like: "Before it reaches $100k, every person on earth will have some coins. That will have the coins equally spread out, and allow everybody transact over internet and nobody will be too rich or too poor."

When it becomes obvious to everyone that they should really buy some, then they will. At which point it will become obvious to everyone that they should really buy some...

UnDerDoG81

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It can happen, the other question is, will $100k will have the same value as now!? Earlier or later th US Dollar will be collapsing.

piramida

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Borsche

Quote from: PolarPoint on May 16, 2014, 06:38:40 PM

Before it reaches $100k, most people would have sold it all. That will just leave a minority group holding lots of bitcoin. Less people use bitcoin to transact, it becomes useless.

Yes right, come up with a stupid premise and build silly deductions on top of that great! Like: "Before it reaches $100k, every person on earth will have some coins. That will have the coins equally spread out, and allow everybody transact over internet and nobody will be too rich or too poor."

sgbett

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Quote from: JessyMatt on May 16, 2014, 06:14:47 PM

Quote from: blackhathasher on May 15, 2014, 09:17:46 PM

Quote from: JessyMatt on May 15, 2014, 02:32:34 PM

Are you saying bitcoin is equivalent to gold? Bitcoin is virtual so how would people feel safe in investing if the traditional market crashes or a financial crisis occurs?

Bitcoin is not virtual.

You cannot create it out of thin air. You cannot replace it if the private keys are lost. The blockchain contains all the 21 million coins that can ever exist. no more. no less.

the number of coins available can only GO down (not counting the addition of coins until the year 2140) due to lost private keys.

each bitcoin or fraction of a bitcoin is a real object, digital yes, but REAL. REAL UNIQUE MATH.

The USD/FRN is virtual. It is not backed by anything physical or unique. It can be whipped into existence just because someone deposits cash into a bank account (look up fractional reserve lending). it can be printed in any quantity at any time by the federal reserve. In fact the only difference between USD/FRN's and Monopoly money is that the fed puts serial numbers on their paper.

It's not physical either so what is it?

Algorithmic / Abstract

It occupies the same realm as numbers. Of themselves they are an abstract quality, but applied to discrete objects they describe a reality.

Say you have 10 $1 bills. You can say you have 10 dollars, but the existence of a dollar is not intrinsically tied to that bill. You could equally have 1 $10 bill. So the dollar is abstract, physical representations of the dollar are real, but they are no more a dollar than a casascius coin is a bitcoin. The physical dollar bills, are tokens that represent the abstract entity of a "US Dollar". In bitcoin, the state of the blockchain represents the abstract entity of a "Bitcoin". Wallets are the 'dollar bills' of varying denominations.

So in terms of existence the dollar and the bitcoin are really not that much different. The ways in which transfer of ownership may happen share many parallels, although with fiat there is a monopoly over the electronic transmission (banking system). The biggest difference is the mechanism of creation - who is in charge of the money supply.

For better or worse, that seems to be the biggest disturbance to the status quo of the world's economy. Interesting times. I'm amazed people feel so sure that things will go one way or another. Never go full fiat/BTC Wink

El Cabron

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What a worthless news website. They are claiming in thailand bitcoin is illegal. lol

zimmah

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Quote from: pinksheep on May 17, 2014, 06:49:00 PM

Quote from: zimmah on May 15, 2014, 03:31:57 PM

100k is bearish for the long run, it might even get above a million.

What time frame do you mean by 'the long run'? Some of us are no longer in our 20s or 30s & hope that it'll get there sooner rather than later Wink

2018-2020

Bitcoin is pretty young, and I expect facebook-like growth.

Quote from: ranlo on May 17, 2014, 11:37:04 PM

Quote from: zimmah on May 17, 2014, 06:10:47 PM

Altcoins are just a pump and dump pyramid scheme and they don't serve much other purpose.

I completely disagree with this statement. I think if any altcoins can completely decouple from Bitcoin, they could go above and beyond it. The issue we have right now with Bitcoin is that it's so widespread with pools and miners that making hard forks (for major changes) is getting more and more difficult.

Still far easier than trying to get an altcoin accepted by the mainstream. And once that new altcoin becomes outdated repeat the whole process again with yet another altcoin. And with mainstream I also mean venture capital, big industries (both online and offline), a lot of small industries, your local supermarket, etc.

Simply not gunna happen.

There's a reason coin map only shows the location of physical shops that accept bitcoin and lite coin. Because these are the two original coins and even lite coin does not come close to bitcoin.

After a few years there will most likely not be many Altcoins to begin with

JimNastics

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Quote from: xux99 on May 17, 2014, 03:26:12 PM

BitCoin will never probably go that high as it will face competition from newer better altcoins. The total market capitalization of all cryptocoins is expected to increase exponentially but BitCoin's share will gradually decrease.

This deluded belief is going to cost a lot of people a lot of money. I say "a lot of" people, it's really just those in the current crypto communities who have been sucked in to the altcoin delirium (hey look, that's a cool name for another altcoin!). Bitcoin will be the only coin that ever gains mass adoption across the world, it's far too far ahead now. The only altcoins left standing will be those with some niche usage, such as absolute anon. The few genuinely useful altcoins (whenever they actually arrive) might make devs and a small group of early adopters wealthy, but Bitcoin is the safe place to be for the long run.

ranlo

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Quote from: zimmah on May 17, 2014, 06:10:47 PM

Altcoins are just a pump and dump pyramid scheme and they don't serve much other purpose.

I completely disagree with this statement. I think if any altcoins can completely decouple from Bitcoin, they could go above and beyond it. The issue we have right now with Bitcoin is that it's so widespread with pools and miners that making hard forks (for major changes) is getting more and more difficult.

btcxyzzz

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Monero - secure, private and untraceable currency.

After 2nd bubble which will happen around late 2015, i think it's very possible. Bitcoin is financial revolution, actually the first real money out there.

pinksheep

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Quote from: zimmah on May 15, 2014, 03:31:57 PM

100k is bearish for the long run, it might even get above a million.

What time frame do you mean by 'the long run'? Some of us are no longer in our 20s or 30s & hope that it'll get there sooner rather than later Wink

zimmah

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Quote from: gentlemand on May 17, 2014, 05:05:17 PM

Quote from: xux99 on May 17, 2014, 03:26:12 PM

BitCoin will never probably go that high as it will face competition from newer better altcoins. The total market capitalization off all cryptocoins is expected to increase exponentially but BitCoin's share will gradually decrease.

At some point people have to collectively decide what they're going to get behind. You can't operate a very useful economy if it's hopelessly diluted by countless clones.

altcoins are way behind

Were are the altcoin ATMs, where can you spend your altcoins?

Nowhere, and you can't

end of story.

Altcoins are just a pump and dump pyramid scheme and they don't serve much other purpose.

If any altcoin actually improves on some aspect of bitcoin, it will be far easier to just change that aspect of the bitcoin protocol rather than having to rebuild all the infrastructure over and over.

Bitcoin is finally getting some traction in the physical world and big online companies are starting to notice it and sometimes even thinking about implementing it, but they'll never even stop to think about using scamcoin 3000.

gentlemand

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Welt Am Draht

Quote from: RandomPedestrianN9 on May 17, 2014, 05:06:34 PM

Quote from: gentlemand on May 17, 2014, 05:05:17 PM

Quote from: xux99 on May 17, 2014, 03:26:12 PM

BitCoin will never probably go that high as it will face competition from newer better altcoins. The total market capitalization off all cryptocoins is expected to increase exponentially but BitCoin's share will gradually decrease.

At some point people have to collectively decide what they're going to get behind. You can't operate a very useful economy if it's hopelessly diluted by countless clones.

Why not? Competition is healthy.

It is healthy but not practical if you're trying to build an operating economy. If it sticks to speculation then that's another matter.

Buying a house with crypto would be a pain up the arse if you had to pay 50% BTC, 30% NXT, 10% Doge and a few other coins because none of their markets were liquid enough for big transactions.

ranlo

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Quote from: RandomPedestrianN9 on May 17, 2014, 05:06:34 PM

Quote from: gentlemand on May 17, 2014, 05:05:17 PM

Quote from: xux99 on May 17, 2014, 03:26:12 PM

BitCoin will never probably go that high as it will face competition from newer better altcoins. The total market capitalization off all cryptocoins is expected to increase exponentially but BitCoin's share will gradually decrease.

At some point people have to collectively decide what they're going to get behind. You can't operate a very useful economy if it's hopelessly diluted by countless clones.

Why not? Competition is healthy.

Not to mention the majority of coins are still priced based on BTC. As long as this trend keeps going, BTC will always be the main one, and all the clones will always be dependent upon it.

RandomPedestrianN9

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Quote from: gentlemand on May 17, 2014, 05:05:17 PM

Quote from: xux99 on May 17, 2014, 03:26:12 PM

BitCoin will never probably go that high as it will face competition from newer better altcoins. The total market capitalization off all cryptocoins is expected to increase exponentially but BitCoin's share will gradually decrease.

At some point people have to collectively decide what they're going to get behind. You can't operate a very useful economy if it's hopelessly diluted by countless clones.

Why not? Competition is healthy.

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