Topic: A Single Bitcoin will Worth $100K - Do You Believe it? - page 8. (Read 13626 times)

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.

It depends how the system is implemented, but in many cases the need of two signatures will increase the risk of coins being lost. Since there are two keys, there is twice the risk that one will be lost.

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.

I agree...because of the lack of trust presently, most people will sell with a quick gain leaving a few investors with the vast!

Yeah, the thing to think about here is that we are moving (I think) towards referring to coins as "bits." When it really comes down to it, nobody would need to have $100k t0 make Bitcoin worth $100k+. Just like none of us have $1b, yet there are trillions of dollars in USD alone. Each person has PART of what is available. The same goes with Bitcoin.

I have a question:  how many Americans have 21 million dollars?

My guess is quite a few.  I think 100K will be easily attainable for bitcoin given time.

True that coins will be lost and have already. But so far just half of the target amount has been mined. With 2-sig wallets the loss risk will be reduced. Even if a lot coins are lost it will not be a problem because the protocol may be changed to allow smaller units than Satoshis. Or there will be a consense after longer time to remine lost coins that ha not been touched over many year (20+).

There have been so many predictions on the end scenarios of Bitcoin that I do not believe in a single one anymore. Compare it to IPV4. Same problems and still after 40 years it is alive and used around the world.

Actually, bitcoin will never be 21 millions. Coins have been already lost and many much will be lost. People forget the private keys and good bye to the coins.
On the price target, it's pure speculation. Everything is possible.

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.

Don't we all bitcoin owners wish!

It's not physical either so what is it?

Depending on how wide the coins are being spread ,the chances of their value getting higher are really considerable ,it may get over $1000 or even $10 000 in a couple of years but, no one will know because it depends on other things like the re-borne of another Mark Karpeles :p

Yes, i believe Bitcoin will be worth a $100k. Bitcoin is more than just a ''next-gen'' transactionsystem, ppl tend to forget how valuable that is.

The world is a big place with many different markets, just a fast example; more than 95% are buying there holiday tickets online, when airliners/bookingagents are starting accepting Bitcoin  the price will skyrocket, in the near future airliners will ambrace Bitcoin to.(i hope)

Ore when Wallstreet gets the green light to jump in other countrys will follow.

We havent seen anything from Bitcoin adoption, the real firework are yet to come, just wait a few years till the infrastucture is ready for it. 30.000 ppl working on it, thats a whole f***** army!  

as long as at least one copy of the blockchain existed in the world bitcoin would still exist. no bank (federal reserve or otherwise) on this planet has as many backups of their data as the blockchain does.

and no. bitcoins are not temporarily simulated. the math that exists as "physical" ones and zeros that make up a bitcoin on a hard drive exist digitally and can just as easily be printed on paper, etched into concrete, carved into wood, etc...

the point that most people miss is that every single satoshi is unique and irreplaceable and in no way whatsoever by any definition are they "virtual". digital yes (unless you printed them out on paper).

Bitcoin is a DIGITAL currency.

Fiat currency, while printed on paper as well as existing as digital data are "virtual" as they ARE extended by computer software, temporarily simulated, replaceable, infinitely expandable, infinitely replicatible. literally no different than World of Warcraft gold. If Blizzard wanted to release more gold into their economy then all they need to do is enter some new parameters and presto. no different than the federal reserve.

NO ONE, not even Satoshi herself can create more bitcoins.  

Technically, wouldn't it fall under this definition? "temporarily simulated or extended by computer software: a virtual disk in RAM; virtual memory on a hard disk." In all reality, if we lose computers we lose Bitcoin. Therefore it's temporary, in the sense that it can disappear in the blink of an eye.

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.

Anything is possible. It could go up to $100 million as well. The thing to think about is that it's deflationary. This means that the value is designed to continue increasing. As more coins are lost, the value of the remaining will theoretically increase. As mining slows down to a crawl, we will have a more stable supply (right now supply increases at a rate of 25 BTC per 10m, or 150 per hour).

With todays technology to support it, bitcoin could possibly be that valuable or somewhat more, it just depends on the speed of adoption. But with better infrastucture to deliver the bitcoin network, it could be so much more. There are already good signs that new technology used for internet infrastructure is becoming more resilient and cheaper to produce and deploy. If that trend continues, and bitcoin/cryptocurrency development continues too, here's what the future reality may be:

• Internet is unimaginably fast, low latency with 100% ubiquitous access (on the ocean, in aircraft, in the wilderness etc)
• Computing devices are powerful, tiny, and are built into clothes and/or our biological tissues, and are powered effortlessly from the environment around us
• Both the computing and networking technology are even cheaper per unit of performance than they are today
• Bitcoin/cryptocurrency evolves to allow faster payment confirmation, smart property, cryptographic contracts, identity etc

If that all sounds 100 years away, think how close we already are to that reality. Satellite constellations to provide internet will be online in the next year or two. Fibre based internet is more common in residential buildings, and the bandwidth and latency performance of the first generation is streets ahead of DSL. Mobile data has had a similar improvement with LTE/4G, and there are more improvements to that technology in the pipeline. Wearable computing devices became a marketplace reality literally this year (google glass, samsung galaxy gear etc). And these devices are continuing that unabating trend of fitting more computing throughput into ever decreasing amounts of space, which has been consistent for over 40 years.

So, given that scenario, and providing we can make informed choices about the devices we choose in this sci-fi future, one bitcoin will definitely be more valuable than 100,000 dollars at 2014 purchasing power. Conservative estimate, 15 years away.

There will be some bifurcation points. One path will lead to disappearing of BTC, other to 100K per 1BTC. These experts only mark possibilities.